Life Insurance for Non-US Citizens, Visa Holders & Foreign Nationals

Top 7 Questions about Life Insurance for Non-US Citizens

We get many questions regarding life insurance for non-U.S. citizens. Here is a list of the most common questions:

1. I was born outside of the U.S. can I get life insurance?

Yes, you can. First of all, depending what is your country of citizenship it may be easier or harder to get life insurance.

The easiest cases we run into are non-U.S. citizens with an ITIN or Social that live in the United States. So for these cases, we have secured a policy with a fantastic company that has Medical and Non Medial options.

However, if you live outside of the U.S. then life insurance companies give every country a different “risk rating”. This risk rating determines if it is possible to get life insurance, and also how expensive the coverage will be.

At the bottom of the page, we have a list of countries and their risk rating. 

 2. Is my death benefit going to be tax-free as a non-resident?

Most of the time the benefit will be tax-free. However, it depends on your specific situation and the tax rules of your country of origin. Please make sure you speak to an international tax attorney or accountant, to understand your specific situation. 

3. I live outside of the U.S., I am a foreign national, how can I get coverage?

The great news is that you CAN get life insurance in the United States. First of all, you will have to apply, and complete all the processes within the U.S.

This means that you MUST take a medical exam (blood and urine) in the United States, and sign all the applications in the U.S. We have a list of 5 mistakes that you need to avoid as a foreign national: life insurance for foreign nationals.

4. What happens if I go back to my country after purchasing life insurance in the U.S.?

You will be able to keep the coverage. Also, if you pass away your family will still receive the death benefit.

Insurance Tip: Make sure that your beneficiaries know of the life insurance you have in the United States. Because the life insurance company will not be notified if you die outside of the country. So your beneficiaries will need to call the life insurance company, or even better, make sure that they have the direct contact for your life insurance agent. 

5. Can I get all types of life insurance like Term and Permanent?

You can get both. In general, there will be fewer restrictions on getting permanent insurance (Universal and Whole Life) than term insurance.

The type of coverage that you can get will depend on your specific situation. 

6. My spouse is not a U.S. citizen; can I get life insurance on him/her?

Yes. She/he will need to meet all requirements as a non-U.S. citizen. Additionally, there are many tax advantages of getting life insurance on your foreign national spouse.

7. I am a student in the U.S., can I get life insurance?

If certain criteria are met, you can get life insurance. Most likely you will not be able to get a large life insurance policy in the U.S. unless you have substantial assets or income in the United States.

In addition, your country of origin will determine your eligibility/rating for life insurance.

Now that we have some of the questions and answers out of the way, we need to look at different visas.

What type of visas can get Life Insurance?

Here are a few visa types, and migratory statuses that would allow you to get Life Insurance:

• Visas: E-1, E-2, H-1B, H-1C, H2, H3, H-4, K-1, K- 3, L-1, L-2, O-1, O-3, TN, V-1, J1, J2, U1, U2, U4 cand More
• Resident Aliens
  
• Work Visas
  
• Green-Card Holders
• No Social Security Number (under some circumstances)

The rules are will also depend on your country of citizenship, but as a general rule the longer you stay in the U.S. the easier it is to buy Life Insurance.

What is the process for getting Life Insurance as a Non-US Citizen?

The process for purchasing life insurance for non-US Citizens is not as complicated as most people think. You will need to provide more information than a citizen, but the process is very similar:

1. Find out how much Insurance you need, and how much you can get approved for. If you don’t know we can help you determine that.
2. Find the company that will give you the best rating for your situation. You need to speak to an agent that has experience with Non-U.S. Citizens.
3. Apply for the Life Insurance. You will need to sign all paperwork in the U.S.
4. If you have had medical problems, make sure you can supply all your medical records. The insurance company will ask for them. Medical records should be translated into English.
5. Take a medical in the United States. Simple blood & urine test that is scheduled by your insurance agent, and it doesn’t cost you anything.
6. Wait for 6-8 weeks to get approval.
7. Sign the delivery paperwork in the U.S.
8. Pay for the first premium.

Then you have Life Insurance in the U.S.!!

See, the process is simple. However, you just need to make sure that you are picking the right life insurance company for you.

What countries can get Life Insurance?

If you live in the U.S. the process of getting Life Insurance is much easier than if you live outside of the U.S.. We have compiled a list of country classifications. So the following list is for people that want life insurance and live outside of the United States.

The letter rating (A, B, C, or D) is used by life insurance companies to assign a risk classification to your country. This rating plays a role in the price and what type of insurance you can get.

“A” Countries:

Andorra, Australia, Austria, Barbados, Belgium, Belarus/Byelorussia, Bermuda, British Virgin Islands, Canada, Cayman Islands, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Israel (excluding West Bank), Gaza & Golan Heights, Italy, Japan, Korean, Liechtenstein, Luxembourg, Macau, Malaysia, Malta, Monaco, Mauritus, Netherlands, New Zealand, Norway, Oman, Qatar, San Marino, Singapore, Slovak Republic (Slovakia), Slovenia, Spain, Sweden, Switzerland, Taiwan, United Arab Emirates, United Kingdom.

First of all, in an “A” country all your options for life insurance will be open. Therefore, you can get Term, Whole Life, and Universal Life insurance with the best ratings possible. Essentially every one of the best life insurance companies will approve you.

“B” Countries:

Albania, Anguilla, Antigua & Barbuda, Argentina, Bahamas, Bosnia & Herzegovina, Brazil, Brunei Darussalam, Bulgaria, Canary Islands, Chile,  China (Urban), Colombia, Costa Rica, Croatia, Dominica, Estonia, French Polynesia, Guadeloupe, Kuwait, Latvia, Lithuania, Macedonia, Martinique, Mauritius, Mexico, Montenegro, Panama, Romania, Seychelles, Soloman Islands, Sri Lanka, Turks and Caicos, Uruguay.

In general, if you are from a “B” country you will not get the best rating possible. However, most people can’t get the best rating possible due to health reasons, so don’t worry you can still get Term, Whole Life and Universal.

It is very important that you work with a broker that knows all the rules for “B” countries to make sure you get the appropriate rating, and you submit all the requirements correctly with the right life insurance company.

“C” Countries:

Armenia, Belize, Cambodia, China (Rural), Cook Islands, Cuba, Ecuador, El Salvador, Grenada, India (Urban), Jamaica, Kazakhstan, Maldives, Micronesia, New Caledonia, Northern Mariana Islands, Palau, Papua New Guinea, Paraguay, Russia, Samoa, Sao Torne & Principe, Saudi Arabia, Serbia, South Africa, St. Kitts and Nevis, St. Lucia, St. Vincent & The Grenadines, Tonga, Trinidad & Tobago, Turkey, Venezuela, Vietnam.

While getting life insurance in a “C” country is not impossible, you will need experts to help you find the right company that will approve you. Also, you will have restrictions on what companies will take your business, and you most likely will not be able to get Term insurance, only permanent coverage (Universal and Whole Life).

“D” Countries:

Bhutan, Bolivia, Botswana, Burma/Myanmar, Cape Verde Islands, Cote d’Ivoire (Ivory Coast), Fiji, French Guyana, Gabon, Guatemala, Haiti, Honduras, Liberia,  India (Rural), Indonesia, Moldova, Mongolia, Namibia, Nicaragua, Philippines, Suriname, Thailand.

Finally, in order to get life insurance from a “D” country, you will need to have very strong financial ties to the United States. In addition, you will be required to have a U.S. tax id number. Even if you meet all requirements, it will be hard to get life insurance in the U.S.

If we didn’t list your country, then there are scenarios:

1. You live in the U.S. then you can still get insurance.
2. If you live outside, it is very likely you will not be able to get life insurance in the U.S.