Interesting Call Today!

I often get calls from companies that would like to offer their products through our agency. Most are companies offering types of insurance that I prefer not to get into. My goal has been to keep it simple. So, with the exception of an occasional disability policy for an existing client, I’m just a life guy.

The call today came in response to a post some time ago talking about a company that could offer US life insurance to foreign nationals. At that time I was writing about a company that would only write high net worth clients and would only write permanent products and they had to set up a trust for the policy in one of several offshore locations……it finally got complicated enough that I let go of it as a viable avenue into the foreign national market.

Several US companies have stuck their toe in the water saying that under certain circumstances (generally starting with high net worth), they might write a foreign national if the application was signed and exam completed and the policy was accepted in the US. Maybe……

The problem has been that we just haven’t been able to find the right company that will take a firm stand on what they will and won’t do so we can throw it out to customers, until today. While I am still doing some investigating, it appears that there is a US company that will write 20 year term and universal life on residents of most Central and South American countries (exceptions right now are Mexico, Peru and Costa Rica).

The clients are required to come to Florida to apply but frankly I’ve never found that to be a hang up with the foreign nationals I’ve talked to about obtaining US life insurance. Their concerns, like mine, were always with companies that just wouldn’t take a solid stance on what they would offer, to who, and how the process works.

Bottom line. More on this very soon. If it turns out to be as solid as it first appears, I’ll be beating the drum loudly.