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Author: Subject: Life Insurance
C-Urchin
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[*] posted on 9-6-2011 at 02:11 PM
Life Insurance


I am looking at getting term life insurance, I am curious if I could get that in Mexico instead of the US. Does anyone know the ins and outs of this?



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Osprey
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[*] posted on 9-6-2011 at 02:31 PM


Not sure. I don't believe in Life Insurance. When I die I want it to be a sad day for everyone.
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Skipjack Joe
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[*] posted on 9-6-2011 at 08:46 PM


Quote:
Originally posted by Osprey


I don't believe in Life Insurance. When I die I want it to be a sad day for everyone.



:lol::lol::lol: Got a kick out of this one.

You sure you don't have some Slavic genes floating around in there?
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C-Urchin
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[*] posted on 9-6-2011 at 11:58 PM
Life Insurance


Quote:
Originally posted by Osprey
Not sure. I don't believe in Life Insurance. When I die I want it to be a sad day for everyone.




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Pescador
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[*] posted on 9-7-2011 at 04:41 PM


If you have debt that would become a problem for your family then life insurance, specifically term life, would be a good solution. If your death does not change the lives and financial situation of family or loved ones, then it is probably not worth the bother.
Most companies that underwrite in the US will rate you slightly higher if you spend more than 6 months out of the country, but it is important to disclose this on the application so that claims can not be denied. There are some major companies doing business in Mexico and they are pretty comptetive with the US markets but slightly higher in cost, due to smaller amounts of people signing up. Zurich, New York Life, Met LIfe and other have offices in all the major cities like La Paz, Tijuana, etc.

I do not have much experience with the underwriters in Mexico, but I did have several good clients from Mexico who did buy New York Life Policies from me while skiing in Vail. But again that was because it was a Whole Life Policy which was tied into the American Stock Exchange. Whole life policies that are tied into the Mexican Bolsa are doing very well so that is another option, but you asked specifically about Term.

Term insurance is very low cost because the insurance companies only pay off in less than .5% of the policies they sell.




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