Can I get life insurance as a Colombian Citizen living in the U.S.?
YES, you can. Most insurance companies will insure a Colombian citizen that lives in the U.S. without much hassle. You will need to provide proof of your immigration status (green card, visa type, etc.), and go through a normal process of applying for life insurance. The good news is we have listed what companies will give Colombian citizens the best rating possible while buying life insurance.
Life insurance for Colombian Citizen living outside of the U.S.
It is possible to get life insurance for Colombian citizen outside of the United States. First you will need a financial need for the life insurance, for example an investment account or a property could be a reason. It’s important that you protect the investments from Estate Taxes, which could be up to 40% of the value when you pass-away. You will also need to have a bank account, and do all the process in the U.S.
The process requires more steps and paperwork but with a good agent it should be done in 6-8 weeks. To understand all the process for purchasing life insurance, please see our article: Life Insurance as a Non Resident or non Citizen.
Will my death benefit pay even if I leave the country?
Yes, if you pass away, and you are not in the U.S. your beneficiaries will still receive the death benefit. You will have to make sure they are aware of whom to contact in case of your death. The best is that you give them the direct contact to you insurance agent. At the time of death, your family will need to provide the insurance company with a death certificate as proof.
Can I get life insurance on a family member that is from Colombia?
If the person lives in the U.S. and there is a need for the life insurance, it shouldn’t be a problem.
Here are a 3 tips on the things you should know about life insurance:
You will need to provide all documents regarding your immigration status (visa, green card, etc.)
You will need to provide all medical documents if you have had any surgeries or medical problems in the last 10 years (These will need to be translated, although some insurance companies will accept them in Spanish).
Make sure you work with an expert for non-citizens. The rules are different and you could get a bad rating, which would affect the price of the policy.
Contact us if you would like a quote: Contact Us!
