Term Life Insurance for Non-US Citizens

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Most people know Cinco de Mayo is Spanish for ‘fifth of May.’ However, many people do not know the true meaning of the Mexican holiday. Contrary to popular belief, Cinco de Mayo is not Mexico’s version of the Fourth of July in the US. Mexico gained its independence on September 16th. Rather, Cinco de Mayo is celebrated in parts of Mexico as the day the Mexican army defeated French forces in a historic battle in 1862.

The day is more celebrated in the US than in Mexico. In the US, Cinco de Mayo is a celebration of Mexican culture and heritage. And of course, that’s reason enough for us to bring out the maracas, sombreros, and margaritas!

The US Census Bureau estimated the Hispanic population in the US in July of 2009 was over 48 million, or roughly 16 percent of the total US population. Hispanics are the fastest growing major population group in the US. Approximately 65 percent of Hispanics are of Mexican origin, and many are not US citizens.

How do life insurance companies underwrite applications from Non-US citizens?

Most life insurance companies will consider an application for term life insurance from a Non-US citizen. While company guidelines vary, most applicants must adhere to the following:

  • The applicant must be a legal permanent US resident for a certain length of time (this can range from 1 – 5 years).
  • Some life insurance companies require a permanent Visa or Green Card.
  • Some life insurance companies will allow certain temporary Visas, such as E 1-2, H-1B, H-4, K 1-4, L-1A, L-1B, and L-2.
  • Student Visas are not considered.
  • The applicant must demonstrate the intent to stay in the US permanently.
  • Some life insurance companies will give individual consideration based on the circumstances.

We hope you all enjoy your Cinco de Mayo fiestas!

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