Foreign National Proficiency Moves Case to the Win Column
When working on a case in the foreign national space, there are a few carriers you can rely on to make the process seamless. With robust country lists, easy-to-access translation services, and more, they can turn otherwise tricky cases into wins. Check out how we were able to successfully place a recent foreign national case with $20,150 in target premium!
Case at a Glance
Underwriting Challenge: Uruguayan Foreign National
Product Type: Term
Face Amount: $2,000,000
Target Premium: $20,150
Situation
- A 65-year-old male foreign national from Uruguay was seeking $2,000,000 of term coverage.
Solution
- Carrier selection came down to the important core competencies in the foreign national space, including a robust country list, translation services, open product selection, and liberal global net worth requirement.
- In this case, the Client was looking for term coverage and his medical records were from Uruguay. Our recommended carrier was able to take the case with an efficient, client-friendly process:
- Unlike most carriers, this one offered term on foreign nationals
- Uruguay is an “A” country
- This carrier reads medical records in Spanish and does not require a translation service.
- This carrier also allows for the use of a power of attorney on policy delivery.
- All these factors made the carrier the insurance company of choice for this case, placing $20,150 in target premium for us.
