Who Needs International Life Insurance?

Anyone who is going to reside outside their home country for any period of time should consider an international life insurance policy. An international life insurance policy offers an individual a way to protect their family while they are traveling outside the country of their citizenship. The international life insurance is similar to other life insurance policies that a person may have, but coverage is offered throughout the world as opposed to only the country where they were born. Many insurance companies offer this type of policy and there are several forms of international life insurance policies for both businesses and individuals.

Term Policies

The international term life insurance policy is typically the best option for someone that is going to be living in another country for a set period of time. This insurance policy can be purchased for the amount of time that you plan to live in the other country. Typically, insurance companies will offer an international term life insurance policy for a month up to ten years. While many of these policies are written to cover you throughout the world, it is important to make sure that the country that you will be living in is covered by the policy.

Contingent Life Insurance Policies

When traveling to another country on a business trip a short-term, contingent international life insurance policy is likely the most appropriate policy. This type of policy is available for a month, two months, or three months, and ends when you return home and secure life insurance coverage with your traditional carrier. When a business deal is in the works, there is often no time to spare. This type of life insurance policy offers a way to protect your family quickly without missing out on an important business venture. There are fewer restrictions involved with this type of policy and they can typically be obtained in just a few hours.

Confidential Life Insurance Policies

Another type of international life insurance policy is the confidential life insurance policy. An individual may have a vested interest in another individual for a number of different reasons. A confidential life insurance policy can be used during movie productions, divorces, surrogate mother contracts, and venture capital deals. In order to obtain a confidential life insurance policy a person must provide documentation to prove insurable interest between the two individuals. This will allow a person to insure the third party without the third-party person knowing the details of the policy. This type of policy can be purchased for a person living anywhere in the world.

International life insurance policies offer a person peace of mind when traveling throughout the world as they know that their beneficiaries are protected and their assets are safe should anything happen to them.