October 20, 2020
We are Open for Foreign National Business
National Life is accepting Foreign Nationals who travel to the U.S.
The Foreign National Market by nature has various risk factors that require continuous monitoring. The onset of Covid-19 has increased that level of observation.
As a result of recent favorable global changes, National Life Group is now willing to once again accept Foreign Nationals who travel to the U.S., with plans on returning to their country of residence as long as the country of origin is not a level 4 travel warning status (per the U.S. State Department Bureau of Consular Affairs. Find more information here). Countries ramping up with Covid-19 concerns will be considered on an individual basis.
Sample countries that currently fit the adjusted criteria include Mexico, China and Costa Rica.
All applicants will have to be in the U.S. for 14 days prior to taking the application and exam. NLG will verify the 14-day period internally. We will “NOT” require Covid-19 testing during the 14-day period.
The normal Foreign National requirements remain in place:
- Established U.S. Nexus (3 Months minimum)
- Global assets can be considered once the US Nexus has been established
- All Applications and Exams must be completed in the U.S.
- A completed Foreign National Questionnaire must accompany the application
- A copy of insured’s passport may be required
- A and B countries of origin are the preferred market
- Permanent Products Only (Minimum face amount 500k – Maximum Face Amount 15 Mil)
- Premium payments must come from a US bank
- A POA cannot be utilized for verifying the health status of the Proposed insured and should only be leveraged for policy delivery (IE Exams or Health of Statements)
Access our Foreign National Guidelines (pages 32-35) here.
Note: this new directive is intended for Foreign Nationals only and does not include U.S. citizens traveling abroad.
As The Foreign National Market continues to be very fluid, NLG will conduct ongoing surveillance and reserves the right to modify our position as the market dictates. For questions regarding our Foreign National procedures, please contact your Underwriting Director or Jay Tildon at jtildon@nationallife.com or (802)229-3822.
