New UK life insurance while in US
Apr 5th 2016, 6:18 am
#16
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: New UK life insurance while in US
That might not be true, and certainly isn't for some financial services, because the law that applies to the contract is the law where the customer is located. I do not know if this is the case for insurance products, but it wouldn't surprise me if it is. .... This is why British/non-US stockbrokers won't touch US residents - they have to comply with US/SEC laws and regulations.
Apr 5th 2016, 6:19 am
#17
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,139
Re: New UK life insurance while in US
The second requirement when applying for a U.S. life insurance policy for foreign nationals or non U.S. residents is the life insurance application, medical exam and delivery of the policy all must be completed while you are in the U.S.
Apr 5th 2016, 6:20 am
#18
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,564
Re: New UK life insurance while in US
I am not an underwriter, but I have worked in the industry for many years and have managed to acquire a little bit of knowledge. I cannot think of any other insurance product that needs to be taken out whilst the policyholder is physically in the country due to contract law. .....
Last edited by Pulaski; Apr 5th 2016 at 6:52 am.
Apr 5th 2016, 6:31 am
#19
Lost in BE Cyberspace
Joined: Feb 2009
Location: UK
Posts: 14,284
Re: New UK life insurance while in US
Apr 5th 2016, 6:48 am
#20
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,564
Re: New UK life insurance while in US
Scrub that. 
.... I was thinking of the US prohibition on USCs becoming Lloyds "names". A USC had (has?) to visit London to sign up as a "name", they could not do so while in the US.
.... I was thinking of the US prohibition on USCs becoming Lloyds "names". A USC had (has?) to visit London to sign up as a "name", they could not do so while in the US.
Last edited by Pulaski; Apr 5th 2016 at 6:51 am.
Apr 5th 2016, 8:15 am
#21
BE Forum Addict
Joined: Apr 2011
Location: Ohio
Posts: 1,834
Re: New UK life insurance while in US
Ditto with Aviva term life insurance here. They are happy to cover us in both Switzerland and the US, and they have my US address.
Apr 5th 2016, 5:42 pm
#22
Account Closed
Joined: Mar 2004
Posts: 2
Re: New UK life insurance while in US
The rating structures use actuarial calculations that differ from country to country.
So where you are resident makes a difference.
