Life Insurance for Foreign Nationals
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FAMILY INCOME PROTECTION, ASSET PRESERVATION, TRANSFER OF WEALTH, ESTATE/TAX PLANNING
Foreign Nationals, who spend considerable time in the United States, hold assets or maintain significant ties to the United States may have a need for U.S. life insurance. Asset preservation, transfer of wealth, estate/tax planning and family income protection are just some of the common financial objectives that apply to individuals and families, regardless of residence.
Many foreign nationals purchase millions in U.S. life every year and the number continues to grow annually. The United States is still considered as one of, if not the most stable country to hold and accumulate assets. This is why it is not uncommon for high net worth individuals or across the globe to have bank relations, businesses, and residences in the United States. Obtaining U.S. life insurance is just another way foreign nationals diversify and secure their wealth.
WHY U.S. Life Insurance?
Top Rated Life Insurance Carriers
U.S. insurance companies are some of the largest and most financially solvent corporations in the world. U.S. carriers offer a broad range of financial products and services that may not be available in another country. U.S. life insurance products are generally more competitive since pricing/rates are based on U.S. mortality assumptions.
Confidentiality Outside Home Country
One major reason foreign nationals purchase U.S. life insurance is for privacy. Many foreign nationals living in high risk or unstable countries do not like disclosing personal and confidential financial information to local agents due to the possible risk of extortion. Dealing with a U.S. life insurance agent and company greatly reduces this risk since all sensitive information is disclosed outside the home country.
Political and Economic Stability
The United States is an attractive option for foreign nationals because of its political and economic stability. Partly the reason, many wealthy foreign nationals from Latin America look to the U.S. for long term preservation of assets. U.S. life insurance policy dominated in U.S. dollars can help conserve assets for future generations.
Financial and Legal System
U.S. financial system through its institutions and laws offers an abundance of wealth building, investment, and retirement options. The ability for foreign nationals to directly own a U.S. life insurance policy gives them the flexibility to use policy values to fit a specific objective.