Policy on Family Member Living In A Foreign Country ?

[0b1kanobee]

One of my clients asked me about taking out a life policy on his son. I forget his age but I think it is 18 or 19 Y.O. Anyway the son lives in Chile.

Is it possible to take out a policy on him like a small WL?

My gut says no but I've never been asked before so I wasn't 100% sure on the answer.

 

[Larry Tew]

Most if not all companies want the applicant to live in the US at the time of application.

 

[tins]

One of my clients asked me about taking out a life policy on his son. I forget his age but I think it is 18 or 19 Y.O. Anyway the son lives in Chile.

Is it possible to take out a policy on him like a small WL?

My gut says no but I've never been asked before so I wasn't 100% sure on the answer.

I've wondered that as well.
My mother lives in Israel. I wanted to take out a policy on her, but I know some companies wouldn't even cover that even if they lived in the U.S. and were visiting over there, since it's considered a dangerous zone.

 

[WinoBlues]

Can they get the person insured. I would bet they can. The cost may be a bigger issue. Also are we talking a US citizen? Why are they there? On a mission, working? Are they permanently? Do they have a US residence?

 

[Larry Tew]

I called Ohio National about this a few weeks ago. My prospect is a US citizen and owns property here but took a job as an engineer in Cairo Egypt. They said no because he isn't there visiting but lives there.

 

[VolAgent]

I've wondered that as well.
My mother lives in Israel. I wanted to take out a policy on her, but I know some companies wouldn't even cover that even if they lived in the U.S. and were visiting over there, since it's considered a dangerous zone.

I have gotten Israeli citizens here in the US insured. Visited Israel every year. As long as she didn't go to the West Bank it was fine.

 

[tins]

I have gotten Israeli citizens here in the US insured. Visited Israel every year. As long as she didn't go to the West Bank it was fine.

My mother has dual citizenship, but lives there (in Israel proper, not over the Green line). She does not have a residence in the U.S., but does come to visit every couple years. During a visit, could she get a life insurance policy?
Probably not, but worth asking.

 

[VolAgent]

My mother has dual citizenship, but lives there (in Israel proper, not over the Green line). She does not have a residence in the U.S., but does come to visit every couple years. During a visit, could she get a life insurance policy?
Probably not, but worth asking.

Probably not. She has no intention to reside in the US. This woman lived in the US and visited Israel. A completely different story.

 

[WinoBlues]

My mother has dual citizenship, but lives there (in Israel proper, not over the Green line). She does not have a residence in the U.S., but does come to visit every couple years. During a visit, could she get a life insurance policy?
Probably not, but worth asking.

This would be a good one to ask a Large IMO like Crump or maybe Pinny.

 

[fjman]

I think I've read that some carriers will do it if the app and exam are taken on us soil.... Generally larger policies and for people not residing in dangerous countries.