At bdhSterling, we’ve long supported clients moving between the UK and Australia.
Over the years it’s become clear that personal insurance is one area where having the right local expertise can make a real difference, particularly as the NHS safety net many are used to in the UK doesn’t apply in the same way in Australia.
So, we’re pleased to introduce bdhLife, our new specialist personal insurance offering for expats living in Australia.
Developed in partnership with Oakmont Financial Group, a leading Australian risk specialist, bdhLife brings together our international experience with deep, local insurance expertise – helping you feel confident you’re properly protected in a market that works very differently from the UK.
In this special guest article, Oakmont outline some key areas where getting expert advice early can make a meaningful difference, helping you protect your income, your family, and your longer-term financial position.
It’s important to understand how the Australian market differs from the UK
The financial services landscape in Australia is very different to that in the UK, and this has a direct impact on the insurance decisions you may need to make.
One of the most significant differences is healthcare.
Australia operates a mixed public and private medical system. Depending on the visa you enter the country on, you will likely need, or at least strongly want, private health insurance to help cover out-of-pocket medical expenses. This increases the importance of broader personal insurance planning compared to the UK, where many people rely heavily on the NHS.
There are also key differences in how advice and lending are structured. In the UK, mortgage advisers often also arrange personal insurance as part of the lending process. In Australia, mortgages and lending are not considered financial advice. Mortgage brokers handle lending enquiries, and there is no requirement to take out life insurance when arranging a mortgage.
This means that responsibility for arranging appropriate personal insurance rests entirely with you and is separate from your lending decisions.
If you move to Australia in an employed capacity, your employer must provide access to a superannuation fund. This may include some level of default life insurance and, in some cases, group income protection. However, default cover is often basic and may not reflect your income, family situation, or broader financial obligations.
Even for Australians who have grown up in the system, the market can be difficult to navigate. For UK expats, the complexity is often heightened.
Seeking specialist advice early can help ensure you are not overinsured, underinsured, or relying on cover that does not properly meet your needs.
Will your existing insurance still be valid?
If you already hold insurance in the UK, it is common to assume that your cover continues seamlessly after moving to Australia.
In practice, this is often not the case.
Common issues include:
- Policies that exclude claims while you are living overseas
- Definitions of disability that do not align across jurisdictions
- Income protection based on outdated earnings
- Currency mismatches between premiums and benefits
- Practical difficulties managing or claiming on policies held offshore.
Without a proper review, there is a real risk that you are paying for policies that may not respond when you need them most.
By working with an adviser experienced in cross-border planning, you can assess whether existing cover remains appropriate or whether it should be restructured or replaced as part of your move.
Insurance in Australia can often be more relevant to your needs than existing UK cover
Both the UK and Australia have mature insurance markets, but some differences can materially affect outcomes, particularly for professionals and higher-income earners.
In many cases, Australian insurance policies offer greater flexibility and stronger protection. Common advantages include:
- More comprehensive income protection options, including longer benefit periods
- Greater availability of “own occupation” definitions for certain professions
- Flexible structuring of policies inside and outside your superannuation
- Competitive underwriting supported by strong adviser/insurer relationships
- Clearer alignment between cover and current Australian earnings.
For UK expats building their income and future in Australia, local policies are often more relevant and responsive than legacy UK cover.
This is where working with experienced insurance specialists can add real value. Advisers with deep expertise in personal risk and established relationships with insurers are often better positioned to structure cover effectively, negotiate terms, and support clients at claim time.
Structuring your insurance alongside your retirement planning
Another key difference between the UK and Australia is how insurance interacts with your retirement savings.
In Australia, certain types of insurance can be held within superannuation. These can offer:
- Cash flow benefits, with premiums funded from super
- Potential tax efficiencies.
In contrast, UK insurance is typically held outside pension structures, with different tax treatment and flexibility considerations.
If you’re an expat moving between the two systems, you must understand:
- Where your insurance is held
- How premiums are funded
- How cover fits within your overall financial plan.
Getting this right helps ensure your protection strategy supports both your short-term needs and your long-term wealth objectives.
Ensuring your cover is aligned with your needs
Relocating to Australia often coincides with significant financial changes, including:
- Changes in income levels and currency
- New debt, such as purchasing property
- Evolving family circumstances
- Different employment or business structures.
Each of these factors directly affects how much insurance you need and how it should be structured.
Key areas for you to review include:
- Ensuring cover reflects your current income
- Reviewing waiting periods and benefit periods
- Updating policy definitions
- Structuring ownership appropriately.
Without regular review, there is a risk of being underinsured or paying for cover that no longer suits your situation.
Managing your risk across different income structures
Income can be structured very differently across the UK and Australia, including:
- Salaried or “pay as you go” (PAYG) employment
- Contracting or self-employment
- Business ownership.
Each structure carries different risks, particularly around income stability, sick leave, and employer-provided benefits.
Insurance should reflect how you earn your income, not just how much you earn. This becomes especially important when moving countries, where employment protections and benefits can vary significantly.
How bdhLife can help you with your insurance needs
Choosing how to structure your insurance is not always straightforward, especially when your financial life spans two countries.
Many UK expats want clarity and confidence that their protection reflects where they live today, while remaining flexible should their plans change.
This is why we are launching bdhLife.
Powered by the award‑winning Oakmont Financial Group, bdhLife is one of the few Australian practices dedicated solely to specialist personal risk advice, focused on helping expats avoid costly gaps, outdated cover, or policies that may not respond when needed.
As a life insurance specialist, bdhLife can help simplify this process by:
- Reviewing your existing UK or overseas insurance policies
- Identifying gaps, overlaps, or unnecessary cover
- Implementing appropriate policies in Australia
- Leveraging insurer and underwriting relationships where appropriate
- Aligning insurance with tax, superannuation, and retirement structures.
Our role is not simply to put cover in place, but to proactively review it and ensure it continues to reflect your circumstances and performs when needed most.
Get in touch
Moving from the UK to Australia offers significant opportunities but also introduces a unique set of financial risks.
Insurance is one of the most important and most overlooked aspects of that transition.
Ensuring your insurance is appropriate for your current location and adaptable if your plans change can make a meaningful difference to your financial security and peace of mind.
For more information, please visit bdhlife.com.au. If you would like to discuss your own insurance arrangements or any aspects of your financial planning, please get in touch with us.
Please note
The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
This article is for information only, it does not take into account your personal objectives, financial situation, or needs. Please do not solely rely on anything you have read in this article and ensure that you conduct your own research to ensure any actions you may take are suitable for your circumstances.
All contents are based on our understanding of HMRC and ATO legislation, which is subject to change.