Unlocking Life Insurance: New ITIN Program Enhancements for Better Coverage

We are excited to share updates to our Individual Taxpayer Identification Number (ITIN) program, designed to help more clients secure life insurance coverage. If you’re looking for life insurance and meet certain criteria, this program may be for you!

Who Can Apply?

To qualify for the ITIN program, clients must meet the following updated requirements:

Residency: You must currently live in the U.S. and have done so for the past three consecutive years.
Identification: You need a U.S. state-issued driver’s license, state-issued photo ID, U.S. passport, or a valid passport from an eligible country.
Citizenship: You must be a citizen of an eligible country or territory. Good news! Bolivia and El Salvador are now included in the list of eligible countries.
Employment Status: You should be working or retired in the U.S. and possess an ITIN.
Tax Compliance: You must be paying U.S. taxes.
Assets: Owning a business, real estate, or other assets (like banking or investment products) in the U.S. is necessary.
Healthcare Provider: You should have a U.S. physician.
No Social Security Number: It’s important that you do not have a Social Security Number.

ITIN Product Eligibility:

The ITIN program offers several life insurance options to fit your needs:
Available products include SMART UL (Non-Med and Medical), Advantage Plus II (Non-Med and Medical), Your Term (Non-Med and Medical), and Strong Foundation Term (Non-Med).
You must be between the ages of 18 and 65.

The program allows for up to $500,000 per person, with specific limits based on the product.

If you have any questions or need assistance, please don’t hesitate to reach out to us! You can text or call the Rodriguez Wealth Group at 813-761-2836 or email us at team@rwealthgroup.com.

Reference: https://www.foresters.com/en/individuals/life-insurance/