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who is a foreign national?

A foreign national is a person who is not a citizen of the country in which he or she resides or temporarily sojourns. For example, a foreign national in the United States is someone who is neither a citizen nor a permanent or temporary resident of the United States.

MRW Financial is able to offer great insurance solutions to High Net Worth Foreign Nationals seeking U.S. dollar-denominated policies outside their country of residence.

Why should you consider expanding your business into the Foreign National market?

The Number of Wealthy Individuals Worldwide has Risen Substantially

This market segment is growing faster than the population generally and is more affluent as well.  Think of employees of multinational corporations stationed here…physicians and medical professionals…academics and graduate students…and purchasers of vacation properties.

Foreign Nationals Face Unique Financial Planning Needs

Many Foreign National individuals do not know that life insurance from a U.S. carrier can be an essential component to fulfilling many of their financial objectives. 

Many U.S. Cities Attract Foreign Nationals

Some producers may think that the growth of the foreign-born population is limited to traditional U.S. gateway cities like Los Angeles, New York or Miami. And while there are certainly regions that have a high concentration of foreign national residents, foreign nationals are not confined to these areas.

Main Advantages for Foreign Nationals Investing in Life Insurance

FEDERAL ESTATE TAX EXCLUSION

Cover substantial estate tax liability for all U.S. owned assets. Federal Estate Tax Exclusion is currently 60k for Non-Resident Aliens.

CASH VALUE GROWTH

Capital Gains on cash value growth not subject to mandatory 30% withholding.

HEDGE LOCAL CURRENCY DEVALUATION RISK

Hedge against local currency devaluation risk.

DEATH BENEFITS IN U.S. DOLLARS

Death benefits are paid in U.S. dollars.

PREMIUM PAYMENTS DO NOT NEED TO BE MADE IN THE U.S.

Premium payments can be made from non-US institutions or with credit cards.

FLEXIBILITY

Flexibility of premium duration and amount.

SINGLE PAY AND LIMITED PAY OPTIONS WILL NOT MEC

Single pay and limited pay options will not MEC.

NO U.S. NEXUS REQUIRED

No U.S. nexus required for domestic and international policies.

FOREIGN INDIVIDUAL AND ENTITY OWNERSHIP IS ALLOWED

Foreign individual and entity ownership of policies is allowed.

Learn more about the advantages.

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Featured Coverage for Foreign Nationals

We are able to provide a suite of life insurance products designed to serve the personal and business needs of affluent individuals in Latin America, Asia and throughout the world. These products provide comprehensive coverage with built in flexibility to meet the specific needs of each individual. This list includes but is not limited to: Family protection, retirement planning, education funding, business succession as well as traditional life insurance as a death benefit.

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Are you interested in the Foreign National market?

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Reasons to choose MRW Financial for your Foreign National clientele

Flexibility

No U.S. Nexus required for domestic or international policies

U.S. policy delivery not required

Premium payments can be made from non-US institutions or with credit cards

Foreign individual and entity ownership allowed

Translation to English not necessary for medical records in Spanish, Portuguese, or French

Medical risks through Table H (8)

international products

UL policies not subject to US tax law (Non-MEC)

No mandatory US income tax withholding on withdrawals

UL policy flexibility for large single premiums designed to preserve, grow or transfer wealth

Fully compliant with US regulations

Ability to insure minors and elderly individuals ages 0-90

Unique single premium lifetime term product designed specifically for wealth transfer scenarios

expertise

Partnered with a 100+ year old company with proven financial strength and stellar ratings (“A” by A.M. Best and “A” by Fitch)

Experience doing business in 22 different countries across the Americas

Multicultural Sales, Underwriting, and New Business teams supporting the international marketplace

MRW FINANCIAL BROKERAGE © 2017
310 S. Dale Mabry Hwy Suite 210 Tampa, Florida 33609 | Toll Free : 800-967-7661 | Main : 813-875-6331 | Fax : 813-875-7331