I remember when a one world economy was the stuff that movies and books were made of. Conspiracy theories were rampant about a global economy kind of being the beginning of the end.
So, the reality is that we are there. That is us. There are certainly plenty of home grown US companies still here and doing just fine without the rest of the world and made in America is still a badge of honor for Americans. But there are also more and more international businesses and partnerships being formed every day. There are just things that can be done by people joining forces with people in other countries that can’t be duplicated without that alliance. One thing they all have in common is the need for business succession planning.
With these new, and a lot of old international businesses comes the challenges of meeting business life insurance needs when a company may have principals in 2 or who know, maybe 10 countries. Structuring a buy/sell agreement or key person insurance isn’t complicated, but funding them life insurance when you have a partner in Argentina and one in the US can prove challenging. What if you have a US based business or for that matter a business based in Spain that has a key employee in Russia whose job is middle east sales? The life insurance for that business need isn’t going to come from the US or Spain.
What happens when you want to cover employees in several countries with disability or major medical insurance? Again, that kind of a situation isn’t even going to be considered by a US insurance company.
That’s where companies like Lloyds of London or the UK branch of the Houston Casualty Company come in. These companies have been underwriting world wide coverage for over 100 years that would scare most traditional underwriters to death.
Bottom line. No matter what kind of business life, disability or AD&D insurance need you have, if you have run into roadblocks either due to geographics or the amount of insurance needed, give me a call or email me directly and let’s see if we can put the answer together for you.