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Thread: Life Insurance

  1. #1
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    Default Life Insurance

    Do you know if they offer life insurance policies here in the D.R.? Are they expensive?

  2. #2
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    Yes, I've been told life insurance is offered in the DR.

    How expensive would be determined by the type of policy you choose. In general, due to shorter life expectancy, Life Insurance should be more expensive than similar policies sold in the US.

    You are probably better off buying Life Insurance in the US/Canada. You don't need to live there to have them issue a policy. Additionally, I would doubt if there is any guarantee fund in the DR as there is in the US (and presumably Canada).

  3. #3
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    Default maybe......

    depending on the company.
    i'm an agent in minnesota and our company will only issue a life policy if 3 conditions are met:
    1. the insured must have a social security number or "green card"
    2. they must have a permanent address in the u.s. (no p.o. boxes)
    3. they must live here at least 6 months/year

    for a beneficiary, the only requirement is the funds be paid in us dollars.

  4. #4
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    One of the questions on every life insurance application is "Do you intend to travel outside of the US during the next 12 months?" A yes answer to that question usually raises a red flad with underwriters and then they'll want more info.

    I can also tell you that some life insurance companies in the US investigate deaths very thoroughly when they occur in certain countries, and the DR is one of them. Those companies are well aware of how easily a death in the DR can be staged and even documented through the authorities there.

  5. #5
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    I believe Seguros Popular, a branch of Banco Popular, includes life insurance in its insurance offerings.

    But like Rellosk, I think you chances of collecting the full amount might be better with an established US or Canadian company (assuming one of them is where you are from)

  6. #6
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    Quote Originally Posted by Hipocrito Mejia
    One of the questions on every life insurance application is "Do you intend to travel outside of the US during the next 12 months?" A yes answer to that question usually raises a red flad with underwriters and then they'll want more info.
    But it generally doesn't fffect your rates unless you travel frequently to somewhere like the Middle East.

    Quote Originally Posted by Hipocrito Mejia
    I can also tell you that some life insurance companies in the US investigate deaths very thoroughly when they occur in certain countries, and the DR is one of them. Those companies are well aware of how easily a death in the DR can be staged and even documented through the authorities there.
    That's true.

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