Depending on their status, Visa and green card holders in the United States (US)are eligible for life insurance.
Unfortunately, Expat US Americans residing abroad may be unable to obtain insurance through a US insurance firm.
Have you experienced insurance rejection because of your residence?
You are not alone, nevertheless. The US Census estimates that at least 15% of people were born abroad.
When the numbers rose, I felt the necessity to provide a unique handbook for life insurance for foreign nationals as a result.
We are the go-to source for consumers who were born outside of the US and are looking for life insurance or who are now residing overseas.
How can a green card holder get life insurance?
The holders of green cards are recognized permanent residents of the United States and have access to the same life insurance choices as citizens.
If you have a green card, you must mention your status as a permanent resident during the application process. Other than that, most insurance companies will treat your registration in the same way they do for US citizens.
3 Ways visa holders get life insurance
Based on your visa status and other considerations, you may be able to obtain approval for a life insurance policy in the United States.
Those having employment authorization documents (EADs), often known as work permits, fall under this group.
You will be required to provide additional information and documentation regarding your visa status, the purpose of your presence in the United States, how long you’ve been in the country, and how long you intend to stay during the application process.
- Type Of Your Visa: Not all work visas are treated the same when it comes to life insurance eligibility. Student visas are also handled differently than work visas.
- Interest in Staying in the USA: Exhibiting your strong desire to remain in the U.S. Having relatives in the nation, or having property or a company there, may help you assess if you are eligible for life insurance coverage.
- Significance Presence in the USA: demonstrating a significant presence in the U.S. Depending on the insurance company, you may be qualified for life insurance coverage after a period of stay in the nation ranging from one to five years.
What Insurance Companies Need from Non-US Citizens
The following are some of the most prevalent examples that can satisfy the considerable contact or financial links requirement:
Be in the United States for a reason other than to obtain life insurance.
Own a piece of real estate in the United States.
Have a consistent business that necessitates trips to the nation.
Being married to a citizen of the United States
Work for a corporation based in the United States in the county
International students can study in the United States.
Documents Needed for Life Insurance Application
These are the necessary documents for candidates seeking international life insurance.
- A copy of your visa
- A foreign resident questionnaireYou’ll complete as part of the application to answer basic questions about health, employment status, and travel history.
- IdentificationDepending on the company, this could be an SSN, ITIN, or a W-8BEN – a Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting.
- State-specific forms to confirm residencyThis is not required by every insurer and depends on the company’s requirements and your state of residency where you apply.
- Medical Examinations that are performed in the U.S
- A bank account from the US-based Bank.
What issues can prohibit me from obtaining life insurance?
Here are the reasons that can make a non-resident be prohibited from getting a life insurance plan even if they meet most of the requirements.
- Country of origin limitations
- Residency minimums (i.e., living in the U.S. for at least one or five years)
- Rating limits
- Identification requirements (such as a visa, SSN, EAD, or ITIN)
- Travel restrictions
Companies that underwrite life insurance for foreign citizens will inquire about their current visa and residence status. Many will evaluate eligibility on the kind of visa, duration of residence in the United States, and a variety of other considerations.
We’ve divided the possibilities into categories to make them easier to understand.
Permanent residents and US citizens:
- Living in the US
- Living/working outside of the US
Non-permanent residents (have a visa)
- Living in the US
- Living/working outside of the US
Undocumented (or with an expired visa)
Would my insurance cover me anywhere in the world?
Businesses will analyze the data and may decline an application if they feel there is an extra danger.
They are concerned about the risk of terrorism, the probability of health threats such as epidemics or starvation, and the quality of medical treatment offered.
Make sure you tell the firm about your vacation intentions so that there is no dispute if you die while travelling.
- duration of travel
- the reason (work or pleasure)
- countries you are planning to visit.
I am Dr Cate Genesis, a Staff writer at The Insurance Blob. I earned an Economics Degree from the University of California, Berkeley.
I have been a consumer technology magazine editor covering consumer technology, a lifestyle writer for the New York Daily News, and a Time magazine foreign correspondent
I have won an award of the most creative and resourceful writer for various insurance magazines.