Friday, May 05, 2006

Some tourism can imperil your life insurance (or ability to get it)

Recently I read an article in the Wall St. Journal that mirrored a recent personal experience:

Life insurers care about which countries you visit and will use your foreign travel experience to determine if they will underwrite you (or at what rates).

Some insurers use the list the State Department uses for places it recommends you avoid.

Here are the countries currently on the list according to the article:
  • Afghanistan
  • Algeria
  • Bosnia-Herzegovina
  • Burundi
  • Central African Republic
  • Chad
  • Colombia
  • Cote d'Ivoire
  • Haiti
  • Indonesia
  • Iran
  • Iraq
  • Israel, the West Bank and Gaza
  • Kenya
  • Lebanon
  • Liberia
  • Nepal
  • Nigeria
  • Pakistan
  • Philippines
  • Saudi Arabia
  • Somalia
  • Sudan
  • Uzbekistan
  • Yemen
  • Zimbabwe

Here is a link to the actual state department list.

Several states are passing laws and regulations to prohibit foreign travel from affecting insurability.

The article did not mention if policies would restrict foreign travel (once the policy was issued). I'm going to check in on that - I doubt they restrict future travel - it would be well publicized if they did.

I do remember reading a historical travel document from the 19th c. The document was a waiver that allowed a man to travel to Louisiana and still retain his life insurance coverage.

Have a wonderful Friday,


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