Can I get life insurance as an immigrant?

Life insurance can be a valuable part of a sound financial plan and can help replace a wage earner’s income, cover final expenses, and offer financial support during a very challenging time. If you’ve recently moved to the U.S., whether temporarily or permanently, and are wondering if you’re able to purchase life insurance, there are a few things to keep in mind.

Life insurance for non-U.S. citizens

Each life insurance company may have different rules around applicants who are not U.S. citizens, so it’s important to do your research. Life insurance companies may consider some of the following:

• Length of residency: You may need to provide proof of U.S. residency for a certain number of years before being eligible to apply for insurance coverage.
• Country considerations: Depending on your country of origin, you may not be allowed to buy life insurance in the U.S. due to certain regulations.
• U.S. limitations: People moving to the U.S. from certain countries may require additional underwriting.

For people who have moved to the U.S. and have obtained a green card or visa, many life insurance companies do provide coverage options. Along with the typical underwriting process, you may be required to provide some additional information when you apply.

You have a green card

If you have a green card, you are considered a permanent resident and can usually apply for life insurance coverage as a U.S. citizen. There will likely be a section on the application that allows you to disclose your resident status.

You’re a visa holder

If you have a visa, you have permission for residence within the U.S. for a designated period of time, typically for school or work. To apply for life insurance, visa holders typically have more documentation to provide to the insurance company than a green card holder. You will often have to share, how long you have been here and whether you plan to permanently reside here in the future.

You may need to provide a copy of your visa and other supporting documentation. The insurance company may also have you fill out a foreign resident questionnaire that asks you questions about your employment and travel history.

Undocumented immigrants

Without proper identification and documentation, such as a green card or visa, it can be more difficult to obtain life insurance coverage. Not all carriers accept undocumented immigrants, but companies that do most likely require an Individual Taxpayer Identification Number (ITIN) and may have limitations on the death benefit amount or type of coverage that they offer.

Seek the help of a financial professional

Finding a financial professional you trust can be extremely helpful in navigating your life insurance options and better understanding the required documents and information that may be required as a non-citizen. Financially protecting your loved ones is important and your financial professional can help you find a way to help safeguard their future well-being.

The term financial professional is not intended to imply engagement in an advisory business in which compensation is not related to sales. Financial professionals that are insurance licensed will be paid a commission on the sale of an insurance product.

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