Foreign National Business
There is considerable interest among our life insurance agents and BGAs in the foreign national marketplace. This is a complicated market to some degree, but once you understand what you need to look for, it becomes easier.
Symetra is a carrier that has truly embraced the high-net-worth, foreign national market and is a fantastic resource. They offer two IULs, a current assumption UL, and term products for this market. They will soon have a VUL available in the coming months. Fabian Gonzalez is a resource for you and is considered an expert in this arena. His contact sheet is listed below along with a link to Symetra’s microsite, which has a plethora of valuable material.
From The Leaders Group’s standpoint, we generally require the following for conducting business with a foreign national:
• Must be a domestic bank as source of funds.
• Must not be on any OFAC list or a Politically Exposed Person, or from a sanctioned country.
• Prefer a U.S. address of business or trust.
• Individual needs a social security number or a W8.
The Leaders Group, Inc.
Member FINRA / SIPC
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