Term-Life Insurance for those going overseas – Options and answers

Due to 9/11, AIDS in Africa and elsewhere, Asian Flu virus, Bird Flu, etc., life insurance companies are slow to offer international term life insurance. One way a young couple can purchase $100,000 of term life insurance with no questions asked is to apply for an international health insurance policy that offers life insurance as an add-on or option. There are no country restrictions when term life insurance is purchased as part of an international health insurance policy. We also can help an individual get term life insurance in some countries of the world apart from taking out a health insurance policy. Generally, this is quite easy to do for people living in Europe, Latin America and East Asia. Please visit https://www.gninsurance.com/health/supplemental/term-life/ to get extra information on term life insurance.

It is becoming more difficult to get term-life insurance in some areas of the world, specifically Africa and the Middle East. What are some solutions? Let me list a few:

The surest way to get term insurance is to take out a health insurance policy that offers optional life insurance. If you are accepted for the medical coverage you, will also be accepted for the life insurance.
Lloyds of London provides life insurance in many countries. You can find out if coverage is available in your country by going to www.gninsurance.com. Double click on the button on the upper right hand corner of the home page. Then double click on the box and work through the questions. It will take you just a few minutes to find out if Lloyds offers coverage in your country of residence.
We also offer “High Limit Accident Insurance.” This is also available in areas of war, and works as terrorism insurance. This is available in all countries of the world, but is rather expensive.
If you are still in the USA and live in or will be visiting Arizona, contact us several months before you go overseas. We have several American companies that offer international insurance at standard rates plus sometimes a surcharge depending on your country of residence. Coverage with an American company is best because you have the option of purchasing 20-year or 30-year-level terms. The plans above, at most, offer ten-year level term.
Sometimes we can get coverage in unique situations by putting in a request to Lloyds of London. Contact us with your country of residence, age, and any medical conditions you have. We will be happy to discuss this option with you.

Generally it has been difficult to write good term insurance for Americans living outside the USA and others living outside their home countries. Now we have several companies that are willing to provide this insurance. We can write term insurance for almost any country in the world.

What is term insurance? It is protection for your spouse and children if you pass away. It is different from “life” insurance because there is no reimbursement to you if you live past the term of the policy.

Here is how it works: If you take out $100,000 of 20-year-level term insurance, and then died before the 20 years were up, your beneficiary would receive $100,000. If you lived past the 20-year life of the term policy, you would receive nothing. Most people purchase term insurance because it is much less expensive than life insurance and because they don’t want to leave their family destitute if they die.