How do I write a US life insurance policy on a foreign national?

| May 16, 2018

Foreign nationals whether RA’s or NRA’s do have the ability to purchase a US life insurance policy from select US life insurance carriers. Carriers vary in the amount of coverage they will offer, product availability and underwriting class based upon the client’s country of residence. Every carrier has its own unique requirements in offering life insurance to a foreign national, but in most instances -

  • The client must have a legitimate connection (nexus) to the US, such as property or other assets in the US.
  • The application, medical exam and delivery of the policy must be done in the US
  • Premiums must be paid from a US bank or financial institution
  • The client must have a US address to receive statements and premium notices
  • All solicitation of a US product must only take place in the US

Global Insurance Solutions Group is an independent life insurance boutique that provides concierge wealth protection solutions to private banks, wealth managers, family offices and attorneys who advise ultra-affluent clientele. We are an industry recognized thought leader with deep subject matter expertise in cross border planning for ultra-high net worth foreign national individuals and businesses worldwide.

If you would like to learn more about cross border planning, have a specific question, would like to discuss a client situation or the services we provide to advisors please contact me directly.

Travis Burke, CFP®

National Director of Business Development

+01 (404) 276-3089