Most non U.S citizens do not know that they can purchase whole life insurance. In the next article you will find everything about whole life insurance for non U.S. citizens. Actually, most life insurance agents do not know what companies offer whole life insurance for non US Citizens. That is why you need to make sure you work with an expert.
First of all, let’s go over why whole life insurance may fit your situation. The main differences between whole life insurance and other types of insurance are the guarantees:
- Death benefit is guaranteed
- Cash Value has a base guaranteed rate
- Level premium guarantee (payment). Your payments will never go up in price.
- Easy access to cash value even when you are older.
- The cost of insurance does not go up. So your cash and death benefit always go up.
In the long run all these features will make whole life insurance the best option for life insurance. It is a very safe and predictable type of life insurance that will be in-force the day you die. In the end, there are many other reasons and strategies to utilize whole life insurance.
Companies With Whole Life For Non US Citizens
There are companies out there that will allow whole life insurance for non US citizens, and the quality of the insurance policies can be fantastic. Some companies will have more death benefit for cheaper price, some may have better cash accumulations. When purchasing whole life insurance as a non U.S. citizen or non U.S. resident, you will have to know what is more important to you. Here is a list to help you. Rate the following according to how important they are to you:
- Death Benefit
- Company Strength
- Cash Value growth
- Company track history
- Current interest rates or dividends
- If you want to access the cash, you will want to know how the policy performs on distributions
- How quickly the cash value grows
Depending on how your rank these factors, some companies will rank higher than others. All these factors will vary by company, but there are only a hand full of great insurance companies for non U.S citizens. The good news for you is that these companies are among the best even for U.S. citizens.
Here are two great companies that may offer whole life insurance to non U.S. citizens:
Both highly rated, and they have fantastic whole life insurance products. You probably have heard from one of these in the past.
What restrictions exist on life insurance for non U.S. citizens?
We do have to let you know that some restrictions will apply for non citizens. Here is a list of things that will affect your rating:
Country of Citizenship
Depending on what country you are a citizen from, it may be more difficult to get life insurance. The most political unstable countries are the hardest to insure.
Health ratings
If you have significant health risks, it may be more difficult than if you where a US citizen to get life insurance.
Immigration status
The longer you stay the easier in the US the easier it is to get life insurance if you are not a citizen. Although as a foreign national there are a few different rules that will apply, and it can be done without a problem.
The good news is that because there are so many variables the best way to find out if you get life insurance is to apply. Make sure you apply with an insurance company that has approved someone with a situation that is similar to yours, and that’s where we come in. Contact us to request a quote and one of our experts will help you.
Whole life insurance for foreign nationals
Also, if you do not live in the U.S. (and you are considered a foreign national) you can still get whole life insurance. You will need to provide your agent with more paperwork to prove why you need the insurance. However, a common way to utilize whole life is to protect a property or for estate planning for non U.S. citizens, or a business or investment that you have made in the US. You have to be very careful with estate planning if you are a foreign national, because you might end up paying close to 40% of your assets to the government if you die. We will let you know everything you need to provide to get the best rating.
A few examples of life insurance for non U.S citizens
- We found an A+ rated life insurance company that pays a dividend of more than 7% that will insurance most non U.S. citizens. The dividend helps the death benefit and cash value grow very quickly.
- Also for higher risk cases, we found A+ rated companies that will insurance citizens from most countries.
- We have been able to provide whole life insurance for non US citizens even without a social security on some cases.
- Limited pay insurance for non Citizens or foreign nationals where you will only have to pay the premium for 10 years or 20 years, and keep the policy for ever.
Our main area of expertise is with non U.S citizens and foreign nationals. We will help you to make sure you get the best chance for the best rating possible, with the best the life insurance companies out there.
Contact us with your questions and if you would like a quote. Click the following link if you would like to get a whole life insurance quote online. Fantastic tool to get instant quotes, however you need to make sure these quotes apply for you.
