Purchase life insurance in many foreign countries (e.g. China) can be very expensive and uncertain, U.S. life insurance has a strong appeal to foreign nationals. Specifically, here are some of the major benefits of having U.S. life insurance policies:
- Provide liquidity for paying for a U.S. estate, while enhancing an estate plan
- Avoid the need to sell assets, most likely at a discount, in order to meet estate tax obligations
- Transfer additional funds to a non-citizen spouse
- Non-Resident Aliens can own life insurance on their own without the complication of setting up a third-party trust or some other legal entity, and the death benefit will not be subject to U.S. estate taxes.
- Life insurance-based estate plans can be modified to fit changing life requirements.
- Gain tax-deferred cash value accumulation.
Can a foreign visitor with B1/B2 visa purchase life insurance in the U.S.? Are there any reputable life insurance companies cater these foreign nationals? The answers are Yes to both questions and you can find out the answer from one of our previous blog post.
If you or someone you know who are foreign nationals and are interested in purchasing U.S. life insurance, please contact us, we have the expertise to help the out.