Traveling abroad or living abroad is a new normal for many people, but what happens if the traveler dies while off U.S. soil? Will the life insurance be valid and payout to beneficiaries? Not all life insurance companies view travel outside of the U.S. the same and may not pay out benefits.
Contact your life insurance policy carrier with questions regarding life insurance coverage. Here’s where you should start:
Consider purchasing international life insurance which provides insurance coverage while traveling if you’re not covered. Like domestic term life insurance, international life insurance provides a lump sum if you die outside of the U.S. People that travel outside of the United States commonly use international life insurance. Whether it be for work or leisure and is a term policy from covering one week to ten years. Lastly, if you plan to live outside of the U.S. seasonally. Or for extended months in the same country. You may want to consider buying a term life plan from an insurance carrier in that country. The policy should pay benefits like a domestic life insurance policy but cover you while you are on that country’s soil.
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