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
 
 
 
 
Montenegro
 
 
 
 
 
Montserrat
 
 
 
 
 
Netherlands Antilles
 
 
 
 
 
New Caledonia
 
 
 
 
 
Northern Marianas Islands
 
 
 
 
 
Oman
 
 
 
 
 
Palau
 
 
 
 
 
Poland
 
 
 
 
 
Qatar
 
 
 
 
 
Romania
 
 
 
 
 
Saint Kitts
 
 
 
 
 
Nevis
 
 
 
 
 
Saint Lucia
 
 
 
 
 
Saint Vincent
 
 
 
 
 
San Marino
 
 
 
 
 
Serbia
 
 
 
 
 
Saint Maarten
 
 
 
 
 
Slovakia
 
 
 
 
 
Slovenia
 
 
 
 
 
Turks and Caicos
 
 
 
 
 
Uruguay
 
 
 
 

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.