I’ve brought this up in the past in response to a very real need with missionaries. Traditional life insurance isn’t horribly friendly to folks doing mission work outside of the country, a knee jerk reaction to the fact that there are some places in the world where mission work can be dangerous. Through Lloyds of London I am able to get international term life insurance for those who are spending a year or more away. We’ve also been able to help people with accidental death insurance. Truth is a lot of missionary deaths are at the hands of someone who takes exception to their belief. Being killed comes under the AD heading.
Another place international term insurance has come in handy is with ex patriots, folks who are US citizens who happen to be living somewhere else in the world either for work or because they got tired of political ads. There are times when ex pats can get insurance through traditional US companies, but it comes with the stipulation that the life insurance application be completed and signed in the US, the exam be done in the US and the approved policy accepted in the US. With international term insurance there is no need to travel. The application can be done electronically and signed where ever you live. You can get an exam done locally and Lloyds will pay up to $200 to reimburse you. Just an fyi there. The exam has to be filled out in English. And once approved the policy can be delivered outside the US once paid for. Another fyi. It has to be paid with a US credit card or from a US bank.
This can also be written on foreign nationals for business insurance purposes. With our global economy it is more and more common for partners or executives of companies to live in different countries. This high limit insurance can be a great way to fund an international buy/sell agreement or provide key person coverage for a foreign national that is key to the overseas growth of your company. All from the comfort of their own home.
We continue to see a strong need for civilian contractor war zone coverage and if the middle east continues to fall apart at the rate it is right now, people from all over the world will be taking lucrative jobs in Afghanistan, Syria, Iraq and Libya. Accidental death and dismemberment and accidental permanent total disability are available with high limits (up to 10 times annual income) and very reasonable prices. One of the great things about this coverage is that it can be purchased or increased after you are already there. The application process and be done electronically and yes, it covers acts of war and terrorism.
Bottom line. For the unusual international or multi national cases this offers a reasonable avenue to getting the coverage needed. If you have any questions or would like to run your scenario by me and get no hassle proposals, call or email me directly. My name is Ed Hinerman. Let’s talk