International life insurance

[freethinkerwwjd]

Hi, so I’m a healthy 25 y/o, no preexisting conditions or anything, but lately I’ve had some close calls. I’m wanting to get a policy for myself. I’m a US citizen that travels international almost full time, so my death would more than likely be in a different country.

Are there any plans that will provide coverage for that in under a year? If not, what is the minimum? And would it be for full coverage in that time?

Thank you

 

[magath]

@freethinkerwwjd one year term insurance. covers your death anywhere - even if on Mars. very cheap. coverage can be as low as 25K and maybe less.

 

[freethinkerwwjd]

@magath I’ll look into that then, thank you

 

[frenchyriff]

@freethinkerwwjd A lot of insurance companies will not write a policy for you if you’re out of the country for more than 6 months of the year. I don’t have a great answer for you here. International travel is not always looked on favorably especially if spending time in under developed countries.

 

[freethinkerwwjd]

@frenchyriff Good to know, thank you. I do spend more than 6 months away, so the search continues I guess.

 

[jwalk33]

@freethinkerwwjd All US life insurance will cover you no matter where you die. Depending on where you go and for how long will determine your ability to receive an underwriting offer to buy it.

 

[futuredreamer]

@freethinkerwwjd Completely depends on the countries you travel to.

If you are regularly visiting OFAC countries, you may not get approved. If you do get approved however, the entire DB would be payable to whoever nomatter where you go.

If you had talked about LTC though, you could see significant reductions of the benefits while travelling internationally (usually 50% of the benefit, or the base benefit without inflation, and perhaps the US consulate in the country could restrict the care providers you could use)

 

[freethinkerwwjd]

@futuredreamer As of late, it would be predominantly South America. Future places - Europe, Morocco, Russia, Japan. I’m not as concerned about dying in those place, but of course it could happen.

I’m not familiar with life insurance at all. Reading here it seems it spans more than just a DB. There’s retirement and health care involved?

Honestly, I’m looking for the cheapest insurance, with the largest payout, effective in the shortest amount of time that covers getting shot in the face in Brazil or surrounding countries. I’m not sure if that narrows it down

 

[tabinek]

@freethinkerwwjd What you are describing you want is term insurance.

Unfortunately when you disclose your travel many companies may decide you are not insurable.

If you lie on the application the company could use that for grounds to deny any claim.