Foreign nationals are people who live in the U.S. at least part of the year, but are not citizens. For tax purposes, the IRS classifies them as resident aliens or non-resident aliens, depending on how much time they spend in the U.S.
One of the biggest draws for foreign nationals is U.S. property. According to the National Association of Realtors®, foreign buyers bought $102 billion in U.S. residential property from April 2015 to March 2016. Other foreign nationals come to the U.S for jobs, schooling opportunities, to be with family members, or because they married a U.S. citizen. They may also be able to get better coverage options here than in their country of citizenship. As a demographic, their growing portfolio of real estate and investments make them great candidates for life insurance protection.
What Are the Eligibility Requirements?
Every case needs to be evaluated individually, but the guidelines below will give you an idea of the carriers' minimal requirements. Keep in mind that, as world events occur, the degree of risk associated with particular countries will change. If you're not sure how to proceed, contact us - we're happy to help.