1. 5082 POINTS
    J Paul Wilson CFP, CHFC
    Certified Financial Planner, JPW Insurance Retirement Investments, Halifax, Nova Scotia, Canada
    Is life insurance international? There are many possible answers to that question and factors to consider. Purchasing life insurance from another country could have complications and you would be advised to check before you buy.

    If you are referring to coverage, then yes, life insurance is international. Insurance companies do ask travel and vacation questions when the policy is being underwritten (before issue) and will sometimes charge more for travel to certain countries and exclude coverage from death while you are in others.

    Another factor to consider are the tax laws of your country, the country the policy was issued in and the country the beneficiary is located in.

    If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.

    If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
    Answered on May 4, 2014
  2. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    Not sure I understand the question of "is life insurance international?" If you live in the United States and purchase a US based life insurance policy, you are covered for business or leisure travel if you were to die regardless of the location. If you are moving abroad with a US based policy I would suggest contacting your insurance company and ask them. Depending on the policy and company there can be tax law changes per country.
    Answered on May 4, 2014
  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    I have lived in a number of countries.  I think that life insurance companies existed in each country that I visited.  Insurers are usually not interested in insuring people who do not reside in their country.  The basis for the rate calculation is different because the life expectancy in different countries varies a great deal.  There are novel distribution schemes.  In England you could buy a life insurance policy from the service station attendant.
    Answered on May 5, 2014
  4. 63333 POINTS
    Peggy MacePRO
    Most of the U.S.
    Life insurance companies sell their products in states and countries where they are approved to sell. However, citizens and legal residents are usually the only ones who can buy a policy in a certain geographical location.

    On the other hand, when it comes time for the death benefit to be paid, the deceased who was covered by the policy can usually be residing or visiting anywhere in the world, and the death benefit will be paid.
    Answered on October 20, 2014
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