Basic life insurance for expats
A basic life insurance protects people who depend on you financially if a covered death or disability occurs. For an expat, who often lives far from family, understanding what it covers and excludes is part of good planning.
What it normally covers
Life insurance pays an insured amount to beneficiaries if the covered event occurs, which is usually death. Some products add cover for disability, critical illness or accidental death. What exactly is covered is in the contract, not in the brochure.
What to look at before buying
- Insured amount and currency.
- Named beneficiaries and how they are updated.
- Exclusions (risky sports, pre-existing conditions, specific activities).
- Waiting period.
- Whether cover applies outside Colombia and for how long.
- Whether the premium is fixed or can change.
Particularities for foreigners
Some insurers ask for a cédula de extranjería or residence; others accept a passport with a valid visa. Declare your health and activity honestly: an incomplete declaration can affect a claim. Think about which country the beneficiaries would be in and what documents they would need.
How to compare
Request quotes from at least two insurers and compare coverage, not just price. Read the general conditions. If you have children or a partner, consider whether the policy should name several beneficiaries and in what proportions.
What it is not
Life insurance is not health insurance and does not replace the plan your visa requires. They are different products with different purposes.
Frequently asked questions
Do I need life insurance to get a visa?
It is not a general requirement. For visas, the usual requirement is a medical plan under Resolution 5477.
Can I change beneficiaries?
Normally yes, following the insurer's procedure.
Does it cover deaths from adventure sports?
It depends on the contract's exclusions; check them before buying.
If you need a medical plan or travel insurance for your visa or stay, CoVisas Colombia can guide you on plans that meet Resolution 5477. Always compare the coverages in writing.
Related guides
General information based on current rules and practice; it may change. Confirm your case with the official source or an authorized professional. Not legal, tax or medical advice.