buy-sell agreement when there is an international partner. Insuring outside the US?

fjman · 07-24-2008, 03:08 PM

Quick question. Looking at a possible Buy-Sell deal. Problem is that 50% is owned by a guy here in the states, the other half by his biz partner overseas (resides in south asia). How would one go about insuring someone outside of the US? Is there a US or woldwide insurer that would insure lives in other countries (L's of London...?) that I can write.

Due to lesser regulations in other countries, apparently some wealthy folks don't trust the insurance companies in their homeland....

al3 · 07-24-2008, 05:45 PM

Most of the large US houses have international operations.

New York Life International

Contact on of the larger GAs (like Crump) and see if they can facilitate this for you.

You might try this outfit, but I know little about them.
Expat Financial International Life Insurance

However, your best bet will probably be Petersen.
Petersen International Underwriters | International Life Insurance

Let us know what you find out and how much of a hassle it is to do your buy-sell deal.

The Jackass

somarco · 07-24-2008, 06:46 PM

Petersen International Underwriters

bluemarlin08 · 07-25-2008, 11:47 AM

There are some challenges, one being where you will be licensed to write the case and if the country he resides is on the state dept watch list. I recently wrote a case on a missionary from Honduras, it was on the watch list, wrote it through Pru but had to wait till he was in the states to sign app and to take delivery.

fjman · 07-25-2008, 01:13 PM

Good to know guys.

I'll update with the outcome as this progresses. Referrals might get interesting!