Manhattan Life, National General, and others...
Selling Insurance Out Of US
- Thread starter AZtinman
- Start date
Manhattan Life, National General, and others...
- 5,503
- Thread starter
- #13
Tahoe Ray,
You stated "It's fine to have an opinion but would you really want to argue this point with a carrier or a DOI?"
No I would not. Which is why I am asking for opinions on whether or not there is a legal way to do it.
I want to start spending half the year living in Panama. There is a large number of expats living in Panama. And, I think, there would be little competition in selling them life insurance.
You also stated "Manhattan Life, National General, and others.."
Are you saying those carriers have eapps you can direct clients to and if the client fills out the app and purchases the insurance you would get credited with the commission? That means those sites would have to have your agent number embedded in the app. Or you give them a link and the link is embedded with your agent number and the client fills out the application with no input from you other than sending the client to the url.
That is not to be confused with an eapp that YOU go to by logging into the carriers system which your clients do NOT have access to. Any insurance company doing business on the internet has those systems in place.
Such a system you are talking about would be the holy grail of insurance marketers. All an agent would have to do is direct traffic to his online application.
thanks
timan
You stated "It's fine to have an opinion but would you really want to argue this point with a carrier or a DOI?"
No I would not. Which is why I am asking for opinions on whether or not there is a legal way to do it.
I want to start spending half the year living in Panama. There is a large number of expats living in Panama. And, I think, there would be little competition in selling them life insurance.
You also stated "Manhattan Life, National General, and others.."
Are you saying those carriers have eapps you can direct clients to and if the client fills out the app and purchases the insurance you would get credited with the commission? That means those sites would have to have your agent number embedded in the app. Or you give them a link and the link is embedded with your agent number and the client fills out the application with no input from you other than sending the client to the url.
That is not to be confused with an eapp that YOU go to by logging into the carriers system which your clients do NOT have access to. Any insurance company doing business on the internet has those systems in place.
Such a system you are talking about would be the holy grail of insurance marketers. All an agent would have to do is direct traffic to his online application.
thanks
timan
- 2,301
So, we want an application (or applications) where we can hide where we really are, that have no medical, don't have to answer the question of "Are you leaving the country" or "do you plan to travel in the next 6 months", don't have to be licensed in that country (don't have to abide by that country"s rules), "Have you visited a foreign country" gets lied about. Knock 'em dead. you already know what you are going to do so just do it.
The second one. Link with your info embedded. You can certainly put the link on a website.
- 2,301
Do you plan to live or travel outside the U.S. in the next year?
Have you lived or traveled outside the U.S. in the past 2 years?
Do you maintain a residence outside the U.S.?
Although I have advised clients to answer NO to travel unless the door to the plane is closing, I don't see how you get past these 3 questions without a decline
Have you lived or traveled outside the U.S. in the past 2 years?
Do you maintain a residence outside the U.S.?
Although I have advised clients to answer NO to travel unless the door to the plane is closing, I don't see how you get past these 3 questions without a decline
Lloyds of Lubbock
Guru
- 757
I deal with ex pats in Panama.
They are treated as foreign nationals.
App signed and dated in US soil and medical taken here.
We do not use e apps.
Carriers rate Panama differently, some A+ country, some have it as a category 3.
If your client has given up his US citizenship and is a citizen of Panama, there is a legal problem with ownership of a US policy.
If they are a citizen of Panama the policy must be owned in an offshore trust.
They are treated as foreign nationals.
App signed and dated in US soil and medical taken here.
We do not use e apps.
Carriers rate Panama differently, some A+ country, some have it as a category 3.
If your client has given up his US citizenship and is a citizen of Panama, there is a legal problem with ownership of a US policy.
If they are a citizen of Panama the policy must be owned in an offshore trust.
I only use e-apps and every one asks where the app was signed.
Lloyds of Lubbock
Guru
- 757
If you want to deal with foreign nats, this website is pretty good.
Foreign National Microsite
Foreign National Microsite
- 30,587
Why not call a couple of companies and see what they say.
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