Life Insurance for the Non-Citizen Hispanic population

[Tahoe Ray]

ILIT would help avoid the estate tax all together, but doubtful anyone buying small face non-citizen policies wants to have the added legal costs to create & annually gift the premiums to the ILIT so the ILIT trustee can pay it.

This is a great market if you can find some folks needing it.

Russians in Brooklyn buy apartments for their kids. They own the property (1m+ on average) so if they die, the kids need to figure out how to come up with 400k not to sell the apartment (because they don't want mom/dad's assets coming under US taxation either).

I have a nice chain of the people in this situation.

 

[WinoBlues]

This is a great market if you can find some folks needing it.

Russians in Brooklyn buy apartments for their kids. They own the property (1m+ on average) so if they die, the kids need to figure out how to come up with 400k not to sell the apartment (because they don't want mom/dad's assets coming under US taxation either).

I have a nice chain of the people in this situation.

Have you been to Miami recently? Sure seems to be a presence. Especially along Ocean Drive.

 

[walthamny]

I get clients here from Middle East usually. Networking is done through realtors and lawyers. My wife does the tax filing/bookkeeping, I do most of the marketing. I am also Certified Acceptance agent with the IRS so they can apply for an ITIN number from me. This is useful in an ethnic market as realtors say I have a guy who can get you an US tax ID easily and refer them. You can go to any town that has a college. It usually has few realtors who specialize in selling rental investments to foreigners. If they also invest money in the USA, usually I have competition from Wall Street Brokers. But sometimes they will also invest with me. In that case, getting an ITIN number first gives me a leg up.

 

[shonceman]

I totally understand that. Good advice!

I will say, the folks that we tend to deal with, regarding their Commercial and Auto insurance, have been faithful and loyal! coming in each month to pay their bill with a Money Order or Debit card.

Sorry, I’m late to the conversation. I picked up on this post in particular. If they’re coming into the office to pay the bill in person, I wonder if most of the companies mentioned would allow you to collect their premium. You may need to look into a Home Service (debit) carrier. They would be limited to smaller face whole life policies. But if the main interest is providing for final expenses, that may be a perfect solution.

Home Service is my primary focus. I work with a couple of companies in that market. My main company (Liberty Bankers Life) will accept ITIN. Not sure about the other one (Security National).

 

[WinoBlues]

From Assurity a few days ago.

If I were in the building a book stage I would probably be interested.

 

[dcollins]

Hi, I may be able to help them! Is it possible to confidentially send an email for those needing this service if I were to give you my email?

 

[WinoBlues]

Hi, I may be able to help them! Is it possible to confidentially send an email for those needing this service if I were to give you my email?

The point of this forum, mostly, is agents helping agents.

Who would you suggest writing them with?