Best Life Insurance Companies That Cover Expats (2024)
MetLife, Equitable Holdings, and Prudential are the best life insurance companies for expats. But it would help if you compare multiple life insurance companies to ensure you're getting the best deal. On average, you'll pay $9 a month for term life insurance. However, your rates may vary. Shop around and compare multiple life insurance companies for expats to find the best rates.
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Tim Bain
Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Life Insurance Agent
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jan 8, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance provider and cannot guarantee quotes from any single provider. Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Life insurance rates for expats are the same as insurance costs for U.S. citizens
- Some life insurance companies demand expats get a medical exam
- You can get term life insurance rates for as low as $9 a month
Did you know life insurance companies that cover expats charge the same rate to U.S. citizens? Life insurance for international travelers is as low as $9 a month.
International life insurance companies have a much larger reach and more expensive rates. But where can you find life insurance when living abroad?
Don’t worry – our guide explains everything you need to know about buying term life insurance for expats.
Once you learn everything about the top life insurance companies that cover expats, enter your ZIP code in the free comparison tool above to compare multiple companies in your area.
What are the best life insurance companies that cover expats?
If you’re an international traveler who needs life insurance, try shopping with the best life insurance companies in the United States.
But how do you know which life insurance companies are the best? Check out the list below to see the top life insurance providers by market share and direct premiums:
Top 10 Life Insurance Companies By Direct Premiums Written in 2020
| Ranks | Companies | Direct Premiums Written | Market Shares |
|---|---|---|---|
| 1st | MetLife Inc. | $103,335,055 | 13% |
| 2nd | Equitable Holdings | $62,688,657 | 8% |
| 3rd | Prudential Financial Inc. | $61,913,976 | 8% |
| 4th | New York Life Insurance Group | $40,211,642 | 5% |
| 5th | Massachusetts Mutual Life Insurance Co. | $38,461,197 | 5% |
| 6th | Principal Financial Group Inc. | $26,439,671 | 3% |
| 7th | Lincoln National Corp. | $25,385,450 | 3% |
| 8th | Western & Southern Financial Group | $22,920,717 | 3% |
| 9th | Transamerica | $22,875,109 | 3% |
| 10th | American International Group (AIG) | $22,620,803 | 3% |
MetLife, Equitable Holdings, and Prudential are the top three life insurance companies in the United States.
Most life insurance companies provide coverage for foreigners who have a green card or carried-approved visa.
But how much is life insurance for foreigners? Read the following section to learn more.
How much are life insurance rates for expats?
You’ve seen the top life insurance companies in the previous section. Let’s examine the monthly rates of cheap term life insurance at the best companies:
Average Term Life Insurance Rates and A.M. Best Ratings by Company
| Company | Average Monthly Term Life Insurance Rates | A.M. Best Rating |
|---|---|---|
| Allstate | $15 | A+ |
| Banner Life | $9 | A+ |
| Guardian Life | $10 | A++ |
| Haven Life | $11 | A++ |
| John Hancock | $11 | A+ |
| MassMutual | $10 | A++ |
| MetLife | $9 | A+ |
| Mutual of Omaha | $12 | A+ |
| Nationwide | $13 | A+ |
| New York Life | $11 | A++ |
| Northwestern Mutual | N/A | A++ |
| Pacific Life | N/A | A+ |
| Primerica | N/A | A+ |
| Principal | $9 | A+ |
| Protective | $9 | A+ |
| Prudential | $16 | A+ |
| State Farm | $15 | A++ |
| USAA | $12 | A++ |
These life insurance rates reflect term life insurance policies with at least $100,000 in death benefits and a 10-year term.
Expats are international travelers who are in a foreign country for work or other business-related ventures.
Life insurance for expats and U.S. citizens will vary. That’s because life insurance quotes for expats are determined by age, health, policy type, and company.
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Which life insurance companies don’t cover expats?
Smaller, local-level insurance companies don’t have the financials that MetLife, MassMutual, or Mutual of Omaha does.
Therefore, smaller life insurance companies may have a hard time insuring expats.
Before you buy life insurance for expats, shop around with various life insurance companies and ask if your expat status would affect your chances of purchasing a policy.
How does international life insurance work?
International life insurance works the same as any other insurance policy. You’ll likely need a medical exam, especially for permanent life insurance options.
Once you have a medical exam, show your results to the life insurance company. They’ll provide you with several options, such as life insurance policy types and life insurance riders.
Riders are add-ons that cover parts that standard life insurance won’t cover, such as accidental death and dismemberment.
Finally, you’ll need to choose a beneficiary. Check with your life insurance company to see if there’s a limit on beneficiaries.
Expats have the same options under international life insurance. But all life insurance companies have a specific signature on how they provide policies.
Why do I need expat life insurance?
Getting life insurance ensures that you protect your estate if a life-altering event occurs. Fatal accidents happen more often than we’d like them to, so expats should be prepared.
Also, life insurance can also work even while you’re alive. Permanent life insurance policies, such as whole life insurance and universal life insurance, give you investment and accumulated cash account opportunities.
For example, William Rusell’s term life insurance program doesn’t have the same perks as other income protection policies.
However, permanent life insurance options are more expensive than term life insurance. Keep in mind that several factors determine whether affordable life insurance for expats is available.
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What You Need to Know About Life Insurance Companies That Cover Expats
Expats have the same opportunities for life insurance as U.S. citizens. Also, any U.S. citizens who travel outside of the country can buy life insurance.
If you are traveling for work or visiting another country, you should talk to your life insurance company about it. Explore your options. If you’re looking at life insurance companies that don’t cover expats, there may be a rider that includes traveling abroad.
Now that you know more about life insurance companies that cover expats, use our free online quote tool below to compare life insurance quotes from multiple companies near you.
Case Studies: Best Life Insurance Companies That Cover Expats
Case Study 1: Securing Financial Protection Abroad
David, an expatriate living and working in a foreign country, recognized the importance of having life insurance coverage to protect his family’s financial future. However, he was unsure about the process of obtaining life insurance as an expat.
After conducting research and comparing various life insurance companies that cover expats, David found MetLife to be the most suitable option for his needs. With MetLife’s comprehensive coverage and competitive rates, David secured a term life insurance policy that provided financial security for his family while he was living and working abroad.
Case Study 2: A Customized Solution for International Travelers
Maria, an international traveler with a green card in the United States, wanted to find a life insurance policy that would provide coverage during her trips abroad. She explored several life insurance companies that catered to expats and found Equitable Holdings to offer customizable solutions for international travelers like herself.
With Equitable Holdings, Maria could tailor her life insurance policy to include coverage while traveling outside the country, ensuring she and her loved ones were protected in any circumstance.
Case Study 3: Long-Term Financial Planning for Expats
Daniel and Emily, an expat couple, were looking for a life insurance company that would offer long-term financial planning options for their future. After researching and comparing various providers, they discovered Prudential’s range of permanent life insurance policies, such as whole life insurance and universal life insurance, to be a perfect fit for their needs.
With Prudential, Daniel and Emily could not only secure life insurance coverage while living abroad but also access investment opportunities and accumulated cash values, providing them with a comprehensive financial plan for their expat lifestyle.
Frequently Asked Questions
Can expats purchase life insurance while living abroad?
Yes, expats can purchase life insurance while living abroad. Many life insurance companies offer coverage for expatriates, provided they meet the necessary criteria and requirements.
Can expats obtain life insurance without undergoing a medical examination?
While some life insurance companies may require a medical examination for expats, others may offer policies without a medical exam, depending on the coverage amount and the applicant’s health condition.
Can expats choose beneficiaries who reside in a different country?
Yes, expats can typically choose beneficiaries who reside in a different country. Life insurance policies allow individuals to designate beneficiaries of their choice, regardless of their location.
Can expats purchase both term and permanent life insurance options?
Yes, expats have the option to choose between term life insurance and permanent life insurance options, such as whole life insurance or universal life insurance. The choice depends on their specific needs and financial goals.
Can expats purchase life insurance for their children?
Yes, expats can often purchase life insurance policies for their children. Many insurance companies offer specific life insurance products designed for children, providing financial protection for their future.
What are the best life insurance companies that cover expats?
The top life insurance companies that cover expats in the United States are MetLife, Equitable Holdings, and Prudential. However, it’s recommended to compare multiple life insurance companies to ensure you’re getting the best deal.
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Tim Bain
Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.