Life Insurance For Undocumented/illegal Residents?

[LGilmore]

Somarco, I don't think you caught the part of the question that states the person is an illegal alien. I don't think there is any insurance carrier that wants to run afoul of the law on this matter as the fine and publicity would be great.

I only have a few companies that write foriegn nationals and they ask alot of questions about status and what not for even the smallest amount. If you did not notice since 9/11 some questions on the app and agents page have changed. You never had to use a drivers license or passport a decade ago to verify ID.

So this may be a bit different than you're thinking of.

cheers.

 

[WinoBlues]

I was just offered a company that will write them. I should have the details in a day or so.

Will also go direct bill. NOT, business I would want advanced on. I would suggest being very selective on which clients you accept.

I think that Pan American used to have something like this.

 

[New7]

How much life insurance and what type? If he has a TIN, I can get him an FE policy;

He does have a TIN and what is an FE policy? Even if the face amount is small, he would like to buy life insurance.

 

[New7]

I was just offered a company that will write them. I should have the details in a day or so.


WinoBlues - Let me/us know when you get the details.


Thanks for the info Somarco


TristanTLC - He does have a TIN and what is an FE policy?



New7

 

[TristanTLC]

FE - Final Expense

 

[New7]

FE - Final Expense

Got it. He's looking for at least $250,000 so an FE policy won't work.

 

[souldeux]

What's the purpose of the life insurance? Are you looking at term insurance, or something that can grow cash value? You may ping a few AML red-flags with this one.

 

[LGilmore]

"What company will issue life insurance to an undocumented/illegal resident in California?"

Just again, I think you are taking a large risk with your license here. It doesn't matter how you feel about the politics behind illegals in the states, I would check with your OIC to make sure you can't be fined or possibly jailed.

I know that sounds silly, but we're expected to do anti money laundering watch, fraud watch and god knows how many other types of watches for criminal activity these days. I would not risk my license or a possible fine for a couple hundred bucks commission.

I don't think there's an insurance company out there that will underwrite any one with the word "illegal" attached to them. Or am I totally wrong?

 

[TristanTLC]

You may ping a few AML red-flags with this one.

I just love your flare for understatements!

 

[souldeux]

I just love your flare for understatements!

I thought it sounded better than "Go practice not dropping the soap."