Global High Net Worth Individual (GHNWI) wealth surpassed US $83 Trillion.

PRODUCT and UNDERWRITING STRATEGIES for HIGH NET WORTH FOREIGN NATIONALS

WHAT TO KNOW

There are 21.7 million high net worth individuals across the globe with greater than $1 million of assets (excluding personal residence, collectibles, consumables, and consumer durables) United States life insurance products are considered a safe haven for citizens of countries who are exposed to currency risk, political unrest, and insolvent financial institutions.

Foreign National Program applies for business written when the owner and/or insured are not residents of the United States. These rules apply for US citizens who travel abroad for more than 12 weeks per year. (Solicitation and ongoing communication must occur in the United States).

GENERAL ELIGIBILITY

(special circumstances will be considered):

  • Established Nexus (LIFE Brokerage 1-page Fact Finder available
    upon request)
  • App/exam/labs/ekg completed in US
  • $1,000,000 net worth and $25,000 in a US bank account for 30 days
    prior to application

SPECIAL PRIVILEGES

  • Limited power of attorney forms available for select carriers
  • Reimbursement of APS translation fees

The LIFE Brokerage underwriting team will assist you in determining resident or non-resident status and identify a carrier program that best matches the client risk profile with the insurance company need. Contact us for our 1 page Fact Finder to help you simplify the process.

CONCEPTS / PRODUCTS

Term: Income replacements & business purpose
Max funded WL/IUL/VUL for accumulation & retirement income
Living benefits to be used in both US and abroad
Death Benefit coverage for Estate Tax (non-resident get $60,000 exemption)
$175,000 maximum lifetime gifting
Premium finance permitted