Posted by For Chinese who have a green card and settled in the United States, applying for a U.S. insurance policy is usually not a problem.But apart from this group, there are a large number ofHold different visas or different statusesThe group of foreigners may work, study, or live in the United States, or they may come to the United States to travel exclusively or engage in business activities from time to time.
Can these foreigners do it by purchasing American life insurance policies?Dollar retirement income.Children's Dollar Education Fund.USD asset allocation, What about inheritance planning?
insurGuru©️Insurance Academy’s column, will help pay attention to "Foreigners buying U.S. insurance"The readers of this question understand the key points of foreigner identity insurance from different angles.
Step XNUMX: What is my legal visa and status type?
Step XNUMX: What is my legal visa and status type?Before preparing to purchase U.S. insurance, we first need to determine what kind of "foreigners" we belong to when we sign an insurance policy contract in the United States.Below isAmerican Life Insurance Guide A compiled list of 26 types of legal visa and status status:
- E1/E2/E3: Work Visa for Businessmen and Investors of Allied Countries
- B1/B2: Tourist/Business Visa
- EB5: investor
- H1B: Special worker
- H1C: nurse
- H4: H1B spouse and children
- F1/F2: Student/student's spouse and children
- J1/J2: Exchange scholar/and spouse or children
- M1/M2: Vocational skills students/ and spouse or children
- K1/K3: Fiancé or fiancee of a U.S. citizen
- K2: Children of K1
- K4: Adopted children of K1
- L1: Multinational company dispatch manager
- L2: Spouse or child of L1 visa
- Q1: Temporary Distinguished Worker
- Q3: Spouse or child of O1 visa
- P1/P3: Internationally recognized athletes or internationally recognized entertainers
- P2: The artists or entertainment who went to the U.S. to communicate are obvious
- P3: Unique culture of artists or entertainer groups
- P4: Spouse and children of P1, P2, or P3
- NT: Non-immigrant visas for Canadian and Mexican citizens of the North American Allies to enter the U.S. for business activities or work
- TD: TN visa spouse and children
- V1/V2: Permanent resident spouse or children
- Temporary green card status (less than 10 years)
- Asylum waiting period status (holding EAD card)
- Hold a legal and valid EAD/EAC identity
If we have any of the legal visas or statuses in the above list and are in the United States, we have the basic requirements to apply for American insurance.
but!but!But-the important thing is said three times-it is one thing to be able to submit an application, but whether the insurance company is willing to accept the application and whether the application can be approved depends on the next second requirement, and the following part is The most important condition.
In the second step, how strong is my connection with the United States?
open"Foreigner market"ofAmerican Insurance Company, Is only a very small part of the more than 800 financial and insurance companies in the United States.These companies have their own independent standards for reviewing insurance.
When the policyholder passesLife insurance brokerOr after the financial adviser submits the application, different insurance companies will conduct assessments in accordance with their respective foreign insurance review standards.
In this review and evaluation process,The core item is how strong the relationship between the policyholder and the United States is.
Different U.S. insurance companies will determine which type of foreigner the insured belongs to according to their respective company conditions:
- Category I, foreigners who have a strong connection with the United States
- Category II, foreigners who have less ties to the United States
- Category III, foreigners who have little connection with the United States
Some U.S. insurance companies only accept applications from Category I foreigners, while others accept applications from Category I and II foreigners. A very small number of insurance companies also accept applications from Category III foreigners.
>>>Recommended reading:The latest list of U.S. insurance companies that foreigners can apply for
And different insurance companies have different conditions and requirements for the "degree of association with the United States."It is determined unilaterally by the insurance company, and there is no uniform standard.
The common U.S. association degrees are:
- Do you own real estate in the United States?
- Is there a large deposit in Bank of America?
- Do you have a financial investment account in the United States with large amounts of funds?
- Do you have a company operating in the United States?
- Is there a legal job and stable income in the United States?
Generally speaking, the more the appeal conditions are met, the more flexible options there will be correspondingly, and the probability that the insurance application will be approved will increase accordingly.If the insured person has very few U.S. connections and is classified as Category III foreigners, then for the insured person, he can only find a Category III foreignerInsurance company, To insure.
Article summary
Can foreigners buy American insurance?I believe this article has given a clear answer.In the actual application process, professionalLife insurance brokerOr financial advisors will communicate with the insured in advance before applying to determine the insured’s U.S. relevance, so as to use experience to screen out the insurance companies with a higher probability of successful application, and submit the policy application to help customers greatly avoid Records rejected by the insurance company.
