LIFE: FOREIGN NATIONALS
GRAB BROKERAGE
EXPANDING BEYOND THE BORDERS
Insurance for all levels of Foreign Nationals
“People from around
the world often
consider the U.S. the
best place to invest
and secure a future
under legal and
heavily regulated
financial institutions.”
Dr. Carlos Martinez
As Sr. VP, Head of Foreign National
Distribution for National Western
Life, Dr. Carlos Martinez has been
involved in the international life
insurance for more than 20 years and
served as President of Central Texas
Home Office Life Underwriters Assoc.
[email protected].
No longer just for high net worth
These staggering numbers pose a significant question—are these types of financial products
exclusive to high net worth individuals?
The phenomenon and accompanying opportunities are now more relevant than ever. The
foreign national marketplace in the U.S. continues to grow, expanding beyond the boundaries
of ultra-wealthy individuals.
The U.S. is consistently a top contributor to today’s global economy. People regularly
migrate to the U.S. on a permanent basis, but more commonly, individuals visit the U.S. for a
variety of reasons just as significant: to go on vacation, to visit close family living in the States,
to invest in property, to invest in small businesses or large corporations, or to simply diversify
their portfolio.
People from around the world often consider the U.S. the best place to invest and secure
a future under legal and heavily regulated financial institutions. For this reason, people are
turning to the insurance industry. Foreign Nationals demand for life insurance and annuities is
as real and crucial as it is for everyone, regardless of residence.
Foreign nationals may continue living in the country or may just visit for a short period
of time, but they represent a tremendous buying power in our economy. Because of their
immigration status, foreign nationals’ insurability and underwriting risks are still linked to their
country of origin, where they could potentially return at any given time.
Foreign nationals can be found anywhere, but no one is consulting with them in this context.
It is a market rich with opportunities.
Ways to identify potential leads
Start with your community. It’s possible friends and family know foreign nationals interested
in a financial product, or have friends who may be interested as well. Word of mouth is
essential in accessing this market, as well as engaging with groups dedicated to assisting
specific multicultural groups. Immigration lawyers, foreign investor-focused real estate
agencies, financial and wealth management firms, and foreign students (who by default
become the nexus needed for parents to apply for insurance) may all know someone seeking a
financial product to help them meet their goals.
We have seen foreign national individuals maintain fantastic persistency, as their U.S.-based
life insurance policy becomes one of their most important assets, not only for the safeguarding
of their family, but for their overall economic state.
Citations:
1 The Organization for International Investment in 2018
2 National Association of Realtors
30
Perspectives
Q3 2019
by
the
In today’s changing world, the need for life insurance and annuities is no longer exclusive to
high net worth foreign nationals. While there is a natural need to cover uncertainties that lie
ahead of high net worth foreign individuals, the need goes far beyond this limited, niche group.
In a report published by the Organization for International Investment in 2018, it was
noted that “Foreign Direct Investment in the United States (FDIUS) surpassed $4 trillion
on a historical-cost basis.” 1 Additionally, the National Association of Realtors reported the
foreign buyers purchased $121 billion of residential property as of March 2018, with property
averaging a cost of $454,400. 2
HORNS!
November 7– 9, 2019
Come meet the market face-to-face.
Belong. Connect. Grow.
www.nailba.org
In its 38 th year, NAILBA’s Annual Meeting is the
largest and most revered gathering of independent
brokerage agencies and advisors in the country.
It is where the brokerage industry meets, bringing
together agency principals, independent advisors,
Register now at
www.NAILBA.org
Gaylord Texan Resort
and Convention Center
Dallas, Texas
Sponsors of NAILBA 38 Presenters
carrier executives, and the senior leadership from
more than 100+ exhibitors.
Relationships are built. Business insights are shared.
And, business gets done! Come join in the excitement!
Featured presenters include:
Gen. John Kelly
Former White
House Chief of
Staff, Secretary
of Homeland
Security
Jim Kelly
NFL Quarterback
and cancer
survivor
Dr. Bob Baur,
Chief Global
Economist,
Principal Global
Investors
Tim Wallace
iPipeline CEO
and technology
expert
Kevin Pollak
Award winning
comedian