National Western Life Inc. is starting a new life insurance program aimed at foreign nationals.
The program will provide access to term life and indexed universal life products for people who are not U.S. citizens or U.S. residents, the company announced Monday.
The company’s National Western Life Insurance Company unit will write the coverage through a network of independent agents and agencies.
Dr. Carlos Martinez Sr., the head of foreign national marketing, said in a statement that the company has been selling products to non-U.S. residents for about 50 years and already has the ability to do business in several languages.
“Our requirements for eligibility are flexible and reasonable,” Martinez said in the statement.
National Western Life has filed a copy of a foreign national questionnaire with state insurance regulators.
The form filed with the Interstate Insurance Compact shows that National Western Life plans to ask each applicant about the applicant’s country of residence, residency or lack of residency in the United States, and residencies outside of the United States.
The company will also ask the applicant about real estate holdings in the United States, business interests inside and outside the United States, and financial assets held inside the United States.
Correction: The headline of an earlier version of this article gave the incorrect name for the issuer. The issuer with the new foreign nationals program is National Western Life.
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