Posted by (InsurGuru©️Insurance College) Many foreigners visiting the U.S. do not have immigration status in the U.S., nor do they live in the U.S., but occasionally come to the U.S. for vacations, travel, business trips, or receiving medical services, etc.For example, in recent years, more and more Chinese residents have come to the United States to travel and shop. Some are still buying houses and investing in the United States, giving birth to American babies, or taking care of their children to school, etc.As a foreigner, can I buy American life insurance?
The answer is: yes.
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Dozens of insurance companies in the U.S. acceptForeigners buying life insurance.Generally speakingForeigners buying life insuranceThere will be no restrictions, but the insurance company will determine whether the insured can be underwritten based on the applicant’s connection with the United States (such as whether there is a real estate, company, deposit, etc.), and will also divide the risk and evaluate specific audits based on the nationality of the insured. To guarantee the level, we can click on the recommended reading above to learn more about it.
In addition to going to the United States,Some globalized US dollar insurance brands accept residents living all over the world and insure in US dollars across borders,And provide worldwide claims services.you can contactLife Insurance Financial AdvisorFind out about the latest "World Resident" insurance plans.
What is the process for foreigners to purchase U.S. insurance?
The first step is entry.The insured must enter the United States legally, such as holding a visa, green card, other valid documents, etc.
The second step is planning.Communicate basic information with licensed professional brokers/financial consultants, evaluate the feasibility of insurance and tailor insurance plans.
The third step is experience.Receive a physical examination at a medical service institution designated by the insurance company.Including, blood test, urine test, blood pressure measurement, height and weight measurement, electrocardiogram.The policyholder does not need to pay this fee.At the same time, policyholders need to prepare cases for the past 5 years.
The fourth step is to open an account.The payment of premiums only accepts transfers from bank accounts in the United States, so you need to use your passport to open a bank account in the United States.
The fifth step is to return home.After completing steps 1 to 3, customers can choose to return to their country or continue to travel in the United States.
The sixth step is to sign for.It may take 1-3 months for foreigners’ insurance policy to be underwritten, and a dedicated person will be responsible for the receipt and delivery of the policy.
Precautions for foreigners to purchase American life insurance
The purchase of American life insurance by foreigners is subject to strict industry regulations. All foreigners' policy applications must comply with the insurance company's insurance regulations.
OnAmerican Life Insurance GuidepreviousNews reportIn China, Zurich Life Insurance Company cited "dishonesty in policy application" as an excuse,Refusal to settle a claim for a Chinese entrepreneur, And ended up in court against thin.
The usual considerations for foreigners buying American life insurance include*:
1.All documents are in English and apply
2. All solicitations must be conducted within the United States
3. Honest disclosure based on facts
U.S. dollar insurance application process without going to the United States
In addition, for groups of Chinese (foreigners) who do not wish to go to the United States, for example, they are residents of the United Kingdom, Australia, Africa, South America and other countries, some largeGlobal insurance brandIt also provides US dollar insurance products for these foreigners to buy.
You can contact a professional U.S. dollar life insurance financial advisor to learn about U.S. dollar insurance products applicable to different countries and regions.
*Each insurance company has different compliance regulations. This article only describes common general principles.
