First, can foreigners buy American insurance? Yes, you can. There are several insurance companies in the United States whose products can be sold to foreigners, and these insurance companies are also used most by native Americans. There is not much difference between foreigners buying insurance in the United States and locals buying insurance.
Secondly, when is it better to buy insurance? Of course, the sooner the better. Because the earlier you buy it, the lower the premium. At the same time, the earlier you start insurance, the more time you have to accumulate more cash value.
In a literary phrase: "You never know when the accident and tomorrow will come first".
Third, which insurance companies can sell to foreigners? Several common insurance companies, such as NATIONWIDE, AIG, PRUDENTIAL and Voya, cover foreigners. Of course, each company's products are suitable for different families, and the terms are different. Need to analyze which product is most suitable for foreigners to buy.
Fourth, American insurance has the largest leverage and the best cost performance. How to buy American insurance? I usually go to the United States for a medical examination and apply for a purchase. If the application is approved, you must open a bank account in the United States, transfer the money to an American bank account, and pay the annual premium by check or bank deduction.
Fifth, how long does it take to buy American insurance? After the general physical examination, if the information is complete, the insurance policy can be issued in about one month. When the insurance company receives the premium, the policy will take effect immediately. After the policy comes into effect, unless the insured commits suicide within two years, the insurance company will pay the insured amount under any other circumstances, whether it is war, illness or accidental death.
In addition, as long as there is cash value, you can get it at any time. You can contact the agent or insurance company when you collect it, and you will receive the check in a few days.
Death compensation is also very simple. As long as the death certificate and notarization are sent to the insurance company, the insurance company will pay the insured amount to the beneficiary in about two or three weeks.
One more thing, in the case of disputes between insurance companies and policyholders, American laws usually protect policyholders. Because American law thinks that the terms of an insurance company are set by the insurance company itself, and the insured is in a weak position, the law is usually on the side of the insured, and it is rare for an insurance company to refuse to pay compensation.
Sixth, adults can buy American life insurance. Can children buy it? What are the advantages? We should pay special attention to an idea here, because the accumulation time of children is relatively long and the pure premium is very small. Therefore, buying an insurance for children can accumulate a huge wealth through time and can be passed down as wealth.
For example, for a 45-year-old person, the insured amount is 654.38+00,000, and the insurance company will recommend an annual premium of about 654.38+05,000 US dollars. For a child aged 2 1 year, the annual premium of 1 10,000 is only about $5,000. At the same time, due to the long-term accumulation of children, the final income may be dozens of times the premium. Adults may only have a dozen times.
For another example, a one-year-old child can design a policy with a premium of more than $3 million, and pay $20,000 every year for five years, totaling $6,543,800+. By the age of 654.38+08, he can pay $40,000 a year for four years. At the age of 35, you can take out $200,000 as a down payment for buying a house. At the same time, when his children go to school, they can spend 60 thousand dollars for their children's college education every year. When you retire, you can spend hundreds of thousands of dollars as retirement expenses every year.
Such an insurance policy satisfies the consumption of major events in a person's life. If you don't use it up when you retire, the last insurance money can also be passed on to the third generation as a means of wealth inheritance.
For Native Americans, income generated by insurance is not subject to income tax. However, this insurance policy will be included in the personal heritage. If the policy amount is large or there are many assets, it may involve the inheritance tax in the United States. The solution is to put this policy in an irrevocable life insurance trust, or set up a trust in advance to buy insurance, then it will be separated from the inheritance, and finally the problem of inheritance tax will be avoided.
Seventh, is trust necessary as an insurance? If the main purpose of an insurance policy is to inherit wealth, then it needs to be put into a trust. However, if you need to use the cash inside before you die, you should not put it in the trust.
Therefore, the compromise is to use the cash value in the policy first. After reaching a certain age, it is found that it is really unnecessary to use this policy, and then put it in the trust. Life insurance plus life insurance trust is a necessary tool in American estate planning, and it is the lowest cost tool. By making good use of this tool, wealth can be passed down from generation to generation to the maximum extent.
For foreigners, buying American insurance has no income tax and inheritance tax, so there is no need to put it in the trust.
Summary: Through the above, we can say that we have made a comprehensive interpretation of American insurance. American insurance, as a financial product, has great protection for ordinary families; For the middle class, it is a means to create wealth; For the rich, it is an essential tool for wealth inheritance.
The rational use of American insurance can make wealth pass on to future generations smoothly and break the curse of "being rich for three generations". At the same time, in the whole asset planning process, American insurance can be regarded as the cornerstone of the overall financial planning, and other investment products such as stocks, real estate, options and futures can be considered.