A little disclaimer here. Per my duty to my country and the Homeland Security folks, I am not looking for life insurance business from people that want to launder money. Having dutifully taken my required anti-money laundering course through LIMRA, I stand ready to reject that business.
There has been an interest for a long time amongst wealthy non US citizens to purchase life insurance through US companies simply because it is a better value. More life insurance bang for your buck. The problem has been that US companies have thrown so many roadblocks in the way that it has been nearly impossible to do business unless there is some clear tie to the US. Clear ties would be business ties, property ownership and things like that.
If the “clear ties” threshhold was met then the person had to be willing to travel to the US for the application signing, the exam and when the policy was approved, acceptance of the new policy. Everything had to be done here. And medical records had to be in English. And so on.
I have found a company that has stepped out from the pack and is actually looking for business from wealthy foreign nationals. There are some restrictions, but the ties to the US have been cut from the list. The need to make multiple trips to the US is no longer needed.
This is not a company for average folks. Their average size policy is $7.2 million and there is no term insurance available, only permanent. It is a huge home run for the right people.
Bottom line. This is the world wide web (as evidenced by the guy in the UK that keeps stealing my blogs), so……if you are a banker with a client that you have been trying to find life insurance for, or if you are just plain wealthy and in need of a better deal on life insurance than you can find in most countries, there just may be an answer out there.