There are a large number of foreigners with different visas or different identities in the United States. They may work, study, live in the United States, or come to the United States from time to time to travel exclusively or engage in some business activities.

Can these foreigners buy American life insurance policies to make dollar retirement income, dollar education funds for their children, dollar asset allocation, and inheritance planning?

Insurance

Serious illness insurance

Financial insurance

Life Insurance

medical insurance

01 Can foreigners buy insurance in the United States?

1 confirm legal visa and identity type

Before preparing to buy insurance in the United States, we need to first determine what kind of "foreigners" we belong to when signing policy contracts in the United States. The following is a list of 26 types of legal visas and status sorted out by [American Life Insurance Guide Network]:

E1/e2/e3: work visa for businessmen and investors in the treaty countries

B1/b2: tourist / business visa

Eb5: investors

H1b: special workers

H1c: nurse

H4: H1B spouse and children

F1/f2: student / student's spouse and children

J1/j2: exchange scholars / and spouses or children

M1/m2: vocational skill students / and their spouses or children

K1/k3: fiance or fiancee of a U.S. citizen

K2: children of K1

K4: adopted children of K1

L1: multinational company dispatch Manager

L2: spouse or child of L1 visa

O1: temporary outstanding worker

O3: spouse or child of O1 visa

P1/p3: internationally recognized athletes or internationally recognized entertainment stars

P2: artists or entertainment who go to the United States for exchanges are obvious

P3: artists or artist groups with unique cultures

P4: spouse and children of P1, P2, or P3

Tn: non immigrant visa for Canadian and Mexican citizens of the North American Association to enter the United States to engage in business activities or work

Td: spouse and children of TN visa

V1/v2: spouse or child of permanent resident status

Temporary green card status (less than 10 years)

Asylum waiting period identity (with ead card)

Hold legal and valid ead/eac identity

*If you have any legal visa or status in the above list and are in the United States, you have the basic requirements to apply for U.S. insurance.

2 confirm the relevance with the United States

In this review and evaluation process, the core is how closely the applicant is related to the United States.

However, different insurance companies have different conditions and requirements for the "degree of association with the United States", which is decided unilaterally by the insurance company, and there is no unified standard.

The common degree of relevance in the United States is:

Do you own real estate in the United States?

Do you have a large deposit in Bank of America?

Is there a financial investment account with large amount of funds in the United States?

Is there a company operating in the United States?

Do you have a legal job and stable income in the United States?

Generally speaking, the more the appeal conditions are satisfied, the more flexible the option will be, and the possibility of the insurance application being approved will also increase.

02

What are the advantages of American insurance?

1. Long history and advanced products

With a history of nearly 260 years, American insurance is a very mature and stable market. Therefore, it has the most advanced products, including investment type and index type universal insurance, in addition to the common term life insurance, lifelong life insurance and deposit dividend universal insurance.

2 allocate USD to spread risks

Buying large life insurance in the United States is the most basic and guaranteed way for Chinese rich people to diversify their investment in dollar asset allocation. Only in the United States, the latest lifelong insurance has the function of investment. It is flexible to put money and withdraw money, and it can be withdrawn 100% duty-free. In addition, the cash value of American life insurance is not subject to litigation, with judicial immunity.

3. Reasonable tax planning and exemption

With the help of American life insurance, customers can enjoy the account value of the policy without involving tax issues. Qualified insurance policies in the United States can be tax deferred or tax-free by exercising the rights and interests of the insurance policies, and the death compensation can be exempted from personal income tax. Foreigners who buy American insurance can be exempted from estate tax.

4 legal protection and efficient claim settlement

The United States has the most advanced financial system and regulatory system, of which insurance is the most strictly regulated industry. In addition, each state has its own insurance laws, and the supervision is very strict. Insurance companies are not allowed to falsely report the return rate of insurance policies to win customers' purchase.

03

Types of insurance in the United States

Serious illness insurance

Whether in China or Hong Kong, serious illness insurance is standard for many people. Many people who have just come into contact with American insurance will also ask: is there serious illness insurance in the United States?

The answer is yes, but basically no one cares. Because it's not necessary. The general commercial medical insurance in the United States includes serious diseases, and there is no upper limit for compensation.

For many Chinese customers, American medical insurance is good, but American medical insurance can only be purchased after long-term residence in the United States.

However, in the life insurance that foreigners can buy, there are usually clauses for serious illness claims. Here is another alternative.

The English name of this kind of clause is accelerated benefit rider, which means that when the insured is in a very serious condition due to illness or accident, the insurance company can pay part of the life insurance claim in advance (up to 50%, not more than 1million), and the rest of the claim will be paid to the beneficiary after his death. It includes three cases: major diseases, chronic diseases and incurable diseases.

Critical illness insurance

Heart disease, stroke, cancer, renal failure, major organ transplantation, muscular dystrophy, blindness, paralysis and other diseases or diseases that seriously shorten life;

Chronic illness

The daily life of the insured is seriously affected by a certain chronic disease, resulting in inability to take care of themselves. According to the US Department of health, two of the six living abilities (bathing, toileting, dressing, eating, short-distance mobility, incontinence of urine and urine) can't be completed by themselves for more than 90 days;

Terminal illness

The life of the insured person will end in the next 12-24 months due to an accident or some disease diagnosed by a licensed doctor.

The sum of the above three types of insurance is similar to the domestic serious illness medical insurance, which provides cash subsidies when the insured is suffering from major diseases, chronic diseases or incurable diseases.

Therefore, it can be said that there is no serious illness insurance to buy in the United States, and there is no need to buy it, because buying life insurance is equivalent to giving additional serious illness insurance