As a foreign national myself, I felt compelled to explain why immigrants need life insurance. I want to go over the reasons why and also to address some of the most common misconceptions we’ve encountered when it comes to life insurance for foreign nationals.
Prior to diving into the topic, I want to point out that we specialize in finding life insurance for foreign nationals. We’ve contracted with top carriers to ensure we have a solution for just about any situation. If you are unsure of your options and want us to review your case, just reach out to us.
Before going over the reasons why immigrants need life insurance, we felt it is important to touch on some of the most common myths when it comes to insuring foreign nations.
Let’s get started…
The most common misconceptions immigrants have when it comes to life insurance
In our course of business, we have encountered many objections from immigrants, who are uncertain if they need or qualify for life insurance.
- You need to be a permanent resident or a US citizen to get life insurance
There are many options for non-permanent residents to purchase life insurance. Current immigration status should not be a reason to put off getting coverage. We’ve helped people who are here on a student visa, work visas such as H1B, O-1, TN visas, tourist visas, married to a US citizen and etc.
- You need to be here AND have some form of visa
This is no longer the case. We’ve contracted with companies that will approve life insurance for undocumented immigrants. This is huge! You can have the life insurance your family needs at an affordable rate from a great company
- Will this affect my immigration application with USCIS?
The answer to this question is no. Applying for life insurance will not have any effect on your case with the United States Citizenship and Immigration Services.
You need to have a SSN (Social Security Number) to qualify
the answer to that again is no, you don’t need to have SSN to get life insurance (with some companies that is).
We have worked with countless life insurance carriers and were able to find life insurance options for clients with an ITIN. In addition, we have a great option for just about everyone to find guaranteed issue life insurance.
These are just some of the justifications immigrants use to put off securing life insurance protection for their families. In reality, it is just as important for an immigrant to have life insurance, as a US-born individual.
Actually, it may even be more imperative for a foreigner to get coverage. In many cases, we don’t have the support system like a person born in the US may have. Our immediate family and closest friends may still be in our home country.
Reasons why immigrants need life insurance
You’ve built a life in the US
We were not born in the United States and as foreigners have different priorities. So, why do immigrants need life insurance? When we first arrive in the United States, we are filled with hopes and dreams. However, in many cases, we also come in with a limited budget. We strive to live the “American Dream”: get a house with a white picket fence in a good school district; get a cute dog and have smart and well-rounded children. In reality, many of us do manage to fulfill the dream, but at what cost?
Little by little, day by day, month by month, we start to accumulate debt. Now, we have mortgages, car payments, bills and etc. Even though we have many financial responsibilities, we are happy. We are able to provide a better life for our family and children.
Unfortunately, there are many things that can jeopardize our happiness. One of these things is an untimely and unexpected death of a family member. That’s why immigrants need life insurance. We cannot always plan for what’s ahead of us, but we can try to prepare for it.
Give your family a choice to stay in the US or leave
I am sure that many of us had similar thoughts at one point or another. What will the other do if one of us is gone? Should you go back to your home country if your spouse dies? However, we are building a life in the United States. It is very difficult just to pack up and leave in a matter of days. We have children that need to finish school, jobs, homes, and other affairs we need to get in order. It will take time to move back, if this is what we want, and time costs money.
Pay for your funeral/shipping of your body
Without a shadow of a doubt, this is the very first bill your family will face. Whether you decide to be cremated, buried traditionally, or have your remains shipped to your country of origin, your family is looking at thousands of dollars. The reality is dying in the US is very expensive. There are many different statistics on cost, based on your home state and the type of service you want. Below are just some of the estimates of the options:
- Cremation – $2,000-5,000
- Funeral – $10,000 – $20,000
- Ship your body – $10,000 and up
In many cases, there are additional expenses on top of the funeral bill. Also, you need to account for the travel expenses for the family, living in the US, attending the service, missed time off work, mortgage payments and etc.
This is an important topic that we need to discuss with our family and make sure that they are aware of our exact wishes.
Deplete your savings and leave your family with bills, instead of legacy
How many times have you seen a Go Fund me account or car washes to pay for someone’s family’s needs? Do you really want your family to have to do that?
Unfortunately, when the unexpected happens, any savings you might have might be gone in a matter of days. Possible medical bills, funeral arrangements, and debt are just some examples of the expenses the family may have to deal with. Life insurance will take care of that. Rest assured, your family would be able to focus on what’s really important – grief.
So whatever reason you have to put off getting life insurance, just don’t. Immigrants need life insurance. It is a necessity and it is vital to secure coverage.
Contact us for a personalized quote and advise on your options as an immigrant. We are not an insurance company, nor are we employees of one. We will reach out to the insurance providers and find the best rate available based on your situation. Our goal is to provide you with professional and unbiased advice when it comes to life insurance.
You followed your heart, came to the United States, and built a life for yourself and your family. Don’t let that dream be taken away because you didn’t think you could or you should get an insurance policy.