Personal & Family Protection
Safeguarding What You Love, Planning for the Future
An advance plan serves as a protective umbrella for your family. BOI integrates life insurance protection and annuity services to build a solid risk defense line and plan your financial future, allowing your loved ones to remain free from worries.
A Commitment to Safeguard the Future
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Life Insurance Planning
What are the main types of US life insurance?
It is mainly divided into term life insurance and permanent life insurance. Permanent life insurance further includes whole life insurance and indexed universal life insurance, among others. Their main differences lie in the coverage period, whether they accumulate cash value, and variations in investment methods.
What documents are required for foreigners to purchase US life insurance?
Typically, you need to provide a copy of your passport and visa, an application form, and, for higher coverage amounts, medical records, a medical examination within the United States, and proof of financial assets.
Do insurance death benefits require tax payments?
Life insurance death benefits are exempt from federal income tax. If the policyholder is a foreigner, the death benefit is also exempt from US estate tax. However, if the policyholder is a US person, estate tax considerations will need to be taken into account.