Foreign National Life Insurance: Eligibility for High Net Worth Individuals

Calendar Icon Updated January 15, 2019

Obtaining life insurance as a foreign national can be a daunting task, especially when you are not currently living in the United States and, more importantly, are not a U.S. resident. Those that successfully qualify for a foreign national life insurance policy enjoy the strength of a U.S. based company along with the tax advantages cash value life insurance can offer. Proving eligibility is not always easy for high net worth individuals, so it’s important to understand all of the requirements prior to completing an application with an insurance agent.

Find A Life Insurance Agent Experienced in High Net Worth Foreign National Business

One of the first steps in getting life insurance as a foreign national is working with an agent who knows how to navigate the foreign national guidelines of the various life insurance companies. Finding a qualified foreign national life insurance agent can be difficult, so it’s important to ask the following questions before hiring an agent to represent your life insurance case.

  • What life insurance companies are strong in the foreign national space?
  • Can you tell me some of the hurdles we will face while trying to underwrite foreign national life insurance?
  • What are the medical exam requirements should I decide to complete a foreign national life insurance application?
  • What type of experience do you have working with the various visas of non-resident aliens and foreign nationals?

Asking these 4 simple questions should give you an understanding of the experience of the agent you are considering to represent you. If they do not quickly know how to answer these questions you should consider expanding your search until you are comfortable you have the proper representation to get your policy underwritten correctly and approved in a timely manner. Once you have an agent, you should then start considering the underwriting guidelines of the various insurance companies.

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Foreign National Life Insurance Underwriting Considerations

Getting approved for foreign national life insurance varies from company to company. Some companies may require a minimum net worth and some companies may impose extra charges due to risk level of the country of origin. It is extremely important to understand all the impacts before you complete an application. Below are some of the underwriting guidelines for foreign national life insurance eligibility for high net worth individuals.

  • Eligible ages 18-75
  • Proposed insured must have U.S. Connection. This includes real estate, family relationship, financial assets, or business relations. Carriers reserve the right to determine if applicant qualifies for U.S. connection.
  • Application must be taken in the U.S.
  • Minimum face amounts of $1 million
  • Country of origin must be approved, varies by carrier. Samples listed below
  • Medical exams must be completed in the U.S. or at a U.S. Consulate, varies by company.
  • Politicians, Public Figures, Government Leaders, Journalists and politically exposed persons are often disqualified from coverage
  • Term and permanent life insurance plans are available to high net worth foreign nationals based on the difference life insurance companies 
  • Up to $35,000,000 face amount

Approved Countries for Foreign National Life Insurance for High Net Worth Individuals

An individual’s underwriting is ultimately impacted by the rating of their country of residence. Areas are typically classified from A+ to E. Various companies update the country rating and changes can be made at any time. It is always important to understand how your resident country will impact your life insurance rates. Below is a sample list of the countries which may be eligible for foreign national life insurance for high net worth individuals.

A+ A B C D E
Australia Albania Algeria Bangladesh Angola Afghanistan
Bermuda American Samoa Armenia Belize Antarctica Central African Republic
British Virgin Islands Andorra Azerbaijan Bolivia Benin Chad
Canada Anguilla Bahamas Botswana Burkina Faso Iraq
Denmark Antigua and Barbuda Bhutan Cambodia Burma / Myanmar North Korea
Finland Argentina Brazil Comoros Burundi Libya
France Aruba Cape Verde East Timor Congo Mali
Germany Barbados China Egypt Cuba Niger
Hong Kong Belarus Colombia El Salvador Djibouti Nigeria
Iceland Bosnia Dominican Republic Guatemala Equatorial Guinea Somalia
Ireland Brunel Ecuador Guyana Eritrea South Sudan
Italy Bulgaria Federated States of Micronesia Honduras Ethiopia Sudan
Liechtenstein Canary Islands Fiji India Gabon Syria
Monaco Cayman Islands French Guiana Kiribati Gambia Yemen
New Zealand Chile Georgia Kyrgyzstan Gaza  
Norway Cook Islands India Laos Ghana  
Portugal Costa Rica Indonesia Namibia Guinea  
Singapore Croatia Jamaica Nauru Guinea Bissau  
Sweden Curacao Kazakhstan Nepal Haiti  
Taiwan Cyprus Lebanon Nicaragua Iran  
United Kingdom Czech Republic Maldives Pakistan Ivory Coast  
U.S. Virgin Islands Dominica Mexico Papua New Guinea Kenya  
Vatican City Estonia Moldova Philippines Lesotho  
  Falkland Islands Mongolia Sao Tome Liberia  
  French Polynesia Morocco Principe Madagascar  
  Greece Niue South Africa Malawi  
  Greenland Paraguay Tajikistan Mauritania  
  Grenada Peru Turkmenistan Mozambique  
  Guadeloupe Russian Federation Tuvalu Rwanda  
  Hungary Samoa Vanuatu Senegal  
  Israel Saudi Arabia West Bank Sierra Leone  
  Jordan Seychelles   Swaziland  
  South Korea Solomon Islands   Tanzania  
  Kosovo Srilanka   Togo  
  Latvia Suriname   Uganda  
  Lithuania Thailand   Western Sahara  
  Luxembourg Tonga   Zambia  
  Macau Trinidad   Zimbabwe  
  Macedonia Tobago      
  Malaysia Tunisia      
  Malta Turkey      
  Marshall Islands Ukraine      
  Martinique Uzbekistan      
  Mauritius Vietnam      
  Netherlands Antilles        
  New Caledonia        
  Northern Marianas Islands        
  Saint Kitts        
  Saint Lucia        
  Saint Vincent        
  San Marino        
  Saint Maarten        
  Turks and Caicos        

Based on your country of origin you can expect to get the following underwriting offer. A+ Super Preferred, A and B Preferred, C Standard plus specific flat extra, D and E will be based on individual consideration. Country ratings vary by company and should always be confirmed before applying for foreign national life insurance.

 As you can see, there are many components associated with high net worth foreign national life insurance. Take your time to shop correctly as it will ensure you obtain the best rates and offers from the life insurance companies. Click here to learn more about life insurance, or any other related issues.

Eligibility Team

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