International Business Life Insurance
The global economy isn’t an anomaly anymore. Businesses that cross datelines and international borders are becoming commonplace. The same safety nets that US companies find necessary are true of international companies, but business life insurance has been slow to go global.
We’ve always had some companies that would entertain foreign nationals buying life insurance from US companies but the financial stipulations were more often than not too cumbersome. The person had to either own a business, own substantial property or have as much as $500,000 in cash investments in the US. These kinds of requirements made it practically impossible for someone from the US to insure a foreign national business key person or investor, or the opposite, a US investor not being able to insure a foreign national business owner.
Lloyds of London has been the most progressive at bridging the continents for businesses. Without consideration of assets, as long as there is a US address (company, investor, business partner home, etc) involved, they can write up to $100 million on any contractual foreign national business interests. Obviously, what ever amount is insured needs to be financially justified, but with the size and scope of most international business ventures justification isn’t a problem.
I would like to see US companies make more aggressive moves in this market,
but we at least have a place to get the job done now. Call us.
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