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Good Neighbor Travel Insurance Blog

Spouses who have no income can get on an international term life insurance

December 7, 2015 By : Administrator

Spouses who have no income can get on an international term life insurance plan. Good Neighbor Insurance provides this option. Here is what one of our underwriters stated to us this past week:

Question: One of our clients is a housewife and wants international term life on herself but has no income.  Would she be able to apply for an international term life insurance investment? If so, what is the highest face amount could she request?

Answer: For International Term Life, we should be able to get her a $250,000 face amount as long as she and her spouse have some sort of net worth.

Petersen International term life insurance is one of term life investment our clients enjoy. It is a little higher in premium since they will allow carrying the policy even if you come back to the U.S. for good. Plus, they cover for all war and terrorist situations. You may view our Petersen International term life insurance investment at https://www.gninsurance.com/petersen-international-term-life-insurance-residing-outside-u-s/.

Our other international term life insurance investment is Clements International at https://www.gninsurance.com/clements-international-term-life-insurance/.

Here is some additional information on our Clements International term life benefits:

Coverage Details

The following provides a summary of Clements Worldwide Term Life Insurance. It illustrates the minimum level of insurance our policy provides.

Eligibility

·       Program is available to professionals working and living outside of their country citizenship, regardless of nationality.

Natural Causes Only (NCO) & Death All Causes (DAC)

·       Exclusion applies to both your NCO or DAC policy. These situations are not covered: Suicide, death as a result of criminal act by insured, nuclear, chemical, biological, war, and terrorism.

Worldwide Coverage

·       Worldwide “Death All Causes” coverage available in broad range of countries

·       “Natural Causes Only” coverage available in high risk locations, i.e. – Iraq and Afghanistan

War and Terrorism and other exclusions

·       In general war and terrorism is covered by the policy. The only thing that is not covered is nuclear, chemical, and biological terrorism. Any other acts of war or terrorism, for example an IED, suicide bomb, etc., would be covered.

·       As we discussed on the phone, the contract is slightly confusing because war and terrorism are listed in the exclusions section. This is because all standard Lloyd’s of London contracts exclude war and terrorism. However, in this policy an endorsement is included at the end of the contract under the War and Terrorism Clause which specifically includes war and terrorism. Therefore, war and terrorism are covered except for in the specific case of nuclear, chemical, or biological terrorism as mentioned above.

·       Other exclusions include criminal acts, suicide, drugs and alcohol, and an illness waiting period. If the insured’s death is a result of a criminal act committed by the insured, then that is excluded. If the insured commits suicide, then that is excluded. If the insured’s death is caused by drug or alcohol use (excepting drugs used as prescribed by a doctor), then that is excluded.

·       Lastly, death caused by illness that occurs in the first 6 months is not covered. Death caused by illness after the first 6 months is covered.

We at Good Neighbor Insurance are always here to serve our guests, you! Please call one of our trained international medical insurance agents at our toll free number, 866-636-9100 or email us at info@gninsurance.com. Or you may call our Arizona office at 480-633-9500.

Administrator

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