Foreign Nationals

Foreign Nationals may obtain U.S. based life insurance with a demonstrated tie or connection to the U.S.

Carrier recommendations:   American GeneralLincoln National

Foreign Nationals and Non Residents:

living outside the U.S.
not a U.S. citizen
non-resident aliens
not a Permanent U.S. resident  (Green Card Holder)
visa temporarily in the U.S. with no intent to remain
has a domicile somewhere other than the U.S.
no U.S. residency requirements
spouse may be eligible even without connection to U.S. within certain limits with concurrent application of spouse with connection
resides in the U.S. on a part time basis only

Note:
Foreign Nationals Residing in the U.S. (Resident Aliens) with a valid visa, different criteria apply than addressed on this web page. Please contact me.
Permanent U.S. resident (valid Green Card) is a normal carrier application process. Travel outside U.S. if longer than a few weeks may require a Foreign Travel Questionnaire
Adjustment of Status considered case-by-case
U.S. citizens residing abroad: solicitation, application, paramedical exam, policy delivery must be done in the U.S.; guidelines country code apply
Dual Citizens, if one is U.S., treated as U.S. citizen
Citizens of a U.S. territory are considered the same as U.S. citizens with certain carriers

Foreign Resident Connection or Ties to the U.S. Eligibility Criteria Questions:

Visa type, expiration date
Residency plans after expiration of visa
How long have you been in the U.S.
Do you intend to reside in the U.S. permanently
regular travel to the U.S. for business or pleasure
Do you have a social security number
Occupation
Duties
Employment Authorization Document (EAD)
Net worth
Annual Income
employer a U.S. domestic corporation
employment length in the U.S
ongoing business activities in the U.S.
what country and province are you from
home ownership in the U.S.
investments in the U.S.
U.S. tax liability
U.S. brokerage account
USCIS I-485 receipt (proving the individual is in the final stage of the Green Card process)


Foreign Travel Questions

Where will you be traveling in the next two years the length of stay in each location and how many times per year you will visit each place, and the purpose of the trips
Country/city   duration of trip   times per year  purpose of trip
If your travel is business related, please describe your duties
Do you expect to visit non urban areas
Do you own a  home/property outside the U.S.?  If yes, property address, name/address of business

Approved Country List: Country Code, Country Rating:

Life insurance carriers assign country codes to asses risk. Cross check carrier lists for most favorable underwriting. Country code lists are subject to change at any time.  Some carriers differentiate between cities and regions within a country.

Requirements and Eligibility Guidelines:

net worth?  minimum net worth with certain carriers
maximum coverage amounts vary with carriers and may depend on country code
certain carriers have minimum coverage amount
permanent life insurance products available: Whole Life, Guaranteed Universal Life, Indexed Universal Life, Universal Life
Term coverage available with certain carriers, some under certain conditions.
occupations in categories such as technical, professional, business owner, business executive are eligible
certain occupations ineligible such as military, police or security personnel, missionaries, government officials, judges, journalists, diplomats, private aviators
Social Security number or Tax ID number, or IRS Form W-8 required
solicitation in the U.S.
illustrations and marketing material not emailed outside the U.S.
proof of identity: copy of passport or visa
application completed in the U.S.; certain carriers require proof of entry to coincide with the application
paramedical exam, all medical examinations completed in U.S.; certain carriers may allow done at a U.S. Embassy or Consulate
certain carriers allow paramedical, medical examination done by approved exam service in their country or by a U.S. certified physician in their country
certain carriers require applicant to be physically present in the U.S. for a minimum number of days in the preceding year
full translation of medical records provided by a disinterested third party; certain carriers by a third party translation agency
certain carriers require minimum percentage of assets to justify coverage amount applied for and to be held for a minimum length of time
policy delivered in the U.S. in accordance for rules of state of issue
Premiums paid U.S. currency from a bank located in the U.S.
all premium payments in full compliance with Anti-Money Laundering (AML) guidelines
copy of W-8BEN, IRS form, Certification of Foreign Status of Beneficial Owner for United States Tax Withholding
if policy an Irrevocable Life Insurance Trust (ILIT), must be U.S. domiciled
if policy a trust, must be a U.S. based trust
all policy service post issue correspondence mailed to an address of record in the U.S.
post-issue correspondence certain carriers allow a P.O. Box as a U.S. billing address, if owned and maintained by policy owner

Purposes and Advantages:

cash value and death benefit in U.S. dollars
larger amount of coverage may be available with a U.S. based life carrier
to cover U.S. tax liabilities
financial planning for beneficiaries in U.S.

For most favorable carrier guidelines and lowest premiums, please contact me for a free and confidential consultation and quote

Sean Drummey for foreign nationalsNationally Licensed Agent:  Sean Drummey
phone:  (910) 328-0447
email:    spdrummey@gmail.com


Notes:

I-485 Application to Register Permanent Resident or Adjustment Status
USCIS I-485 receipt proves individual is in the final stage of the Green Card process

Employment Authorization, Category C09P, Serves as I-512 Advance Parole  (FAQ Advance Parole)

EAD Card vs Green Card: Similarities and Differences

Form I-797: Types and Functions categories by U.S. Citizenship Immigration Services  (USCIS)

What is Form I-797 Notice of Action


last update: 6/12/2023  underwriting guidelines subject to change