Best Life Insurance Company That Covers Expats in 2021
MetLife is one of the best life insurance companies for expats. However, life insurance companies like William Russell target life insurance policies for expats. On average, you'll pay $9 a month for term life insurance, but your rates may vary. Shop around and compare multiple life insurance companies to find the best international life insurance rates.
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Written by
Jeffrey Johnson
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Reviewed by
Benji Carr
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UPDATED: Sep 28, 2021
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- Expat life insurance can be as low as $9 a month
- Life insurance companies may require you to get a medical exam
- Permanent life insurance has more long-term options
Are you searching for life insurance companies that cover expats? Life insurance for international travelers is the same as any U.S. citizen. But international life insurance rates vary for each person.
But where can you find affordable life insurance when living abroad?
Don’t worry – we’re here to help. Our guide explains everything you need to know about the best life insurance companies for expats.
After you learn everything about the top life insurance companies that cover expats, enter your ZIP code in the free online tool above to compare multiple life insurance quotes from companies near you.
Table of Contents
What are the best life insurance companies that cover expats?
If you’re an international traveler who needs life insurance, try shopping with the top life insurance companies. Most life insurance companies provide coverage for foreigners who have a green card or carried-approved visa.
But which life insurance providers are the best? Examine the list below to see the best life insurance companies by direct premiums and market shares:
| Ranks | Companies | Direct Premiums Written | Market Shares |
|---|---|---|---|
| 1st | MetLife Inc. | $103,335,055 | 13% |
| 2nd | Equitable Holdings | $62,688,657 | 8% |
| 3rd | Prudential Financial Inc. | $61,913,976 | 8% |
| 4th | New York Life Insurance Group | $40,211,642 | 5% |
| 5th | Massachusetts Mutual Life Insurance Co. | $38,461,197 | 5% |
| 6th | Principal Financial Group Inc. | $26,439,671 | 3% |
| 7th | Lincoln National Corp. | $25,385,450 | 3% |
| 8th | Western & Southern Financial Group | $22,920,717 | 3% |
| 9th | Transamerica | $22,875,109 | 3% |
| 10th | American International Group (AIG) | $22,620,803 | 3% |
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MetLife, Equitable Holdings, and Prudential are the top three life insurance companies in the United States.
Which life insurance companies don’t cover expats?
Whether you’re a U.S. citizen or an expat with a green card or visa, local-level life insurance companies may not insure you if you travel internationally.
Smaller life insurance companies don’t have the financial muscle that MetLife, New York Life, and John Hancock have.
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How much are life insurance rates for expats?
Expat life insurance rates vary for each person. Let’s examine the monthly term life insurance rates at the best companies:
| Company | Average Monthly Term Life Insurance Rates | A.M. Best Rating |
|---|---|---|
| Allstate | $15 | A+ |
| Banner Life | $9 | A+ |
| Guardian Life | $10 | A++ |
| Haven Life | $11 | A++ |
| John Hancock | $11 | A+ |
| MassMutual | $10 | A++ |
| MetLife | $9 | A+ |
| Mutual of Omaha | $12 | A+ |
| Nationwide | $13 | A+ |
| New York Life | $11 | A++ |
| Northwestern Mutual | N/A | A++ |
| Pacific Life | N/A | A+ |
| Primerica | N/A | A+ |
| Principal | $9 | A+ |
| Protective | $9 | A+ |
| Prudential | $16 | A+ |
| State Farm | $15 | A++ |
| USAA | $12 | A++ |
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Life insurance for expats and U.S. citizens will vary. That’s because life insurance quotes for expats are determined by age, health, policy type, and company.
For instance, a 20-year term life insurance policy with $250,000 could increase your monthly rates by $12.
How does international life insurance work?
You’ll need a medical exam, especially for permanent life insurance options. Show your medical exam results to your life insurance agent, and they’ll provide you with several options.
Some of those options are life insurance types and life insurance riders.
Riders are add-ons that cover parts that standard life insurance won’t cover, such as the return of premiums and children riders.
Next, you’ll need to choose beneficiaries. Expats have the same options under international life insurance, but all life insurance companies handle policies differently.
Who needs expat life insurance?
Anyone who’s planning on living abroad should think about getting life insurance that follows them overseas.
Life insurance is a form of estate planning for your family if you’re in a fatal accident or sudden death.
Also, life insurance works while you’re alive. Expats who travel for work can accumulate cash and invest with permanent life insurance.
We recommend whole life insurance and universal life insurance for expats with bigger budgets.
For example, William Rusell’s term life insurance policies don’t have the perks of permanent life insurance. But if you buy income protection policies, you can secure a sizable investment.
Is permanent life insurance for expats more expensive?
Permanent life insurance options are more expensive than term life insurance for everyone. Various factors determine whether affordable life insurance for expats is available.
Before you buy life insurance for expats, shop around with multiple life insurance companies.
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What You Need to Know About Life Insurance Companies That Cover Expats
Expats have the same options for life insurance as U.S. citizens. Any U.S. citizen that travels abroad should buy life insurance.
If you are traveling for work or visiting another country, you should talk to your life insurance company. There may be a life insurance rider that includes traveling abroad.
Now that you know more about life insurance companies that cover expats, use our free comparison tool below to compare rates from multiple companies in your area.