The American Diaspora
We are living in a technologically-progressive business world with an ever-expanding global economy where corporate identities exceed borders and nationalities. Although originally domiciled in or at the very least incorporated within the United States, many American companies are moving entire divisions or launching branches overseas. There are also those that are relocating completely outside of the country simply for financial benefit. Employee salaries/benefits, production costs, overhead expenses and taxation are less expensive in other countries, making it very attractive for many U.S. firms to emigrate.
There is also a continued expansion of the expat population comprised of American retirees, religious missionaries, U.S. government contractors and foreign aid workers who are making their homes all over the world for purposes of business and pleasure. It is estimated by the U.S. State Department that over eight million non-military, naturalized U.S. citizens live abroad.
For a multitude of reasons and opportunities, Americans are moving overseas in record numbers, and they are in desperate need of personal-lines insurances which are not readily available from domestic insurance carriers.
Petersen International has developed a full suite of insurance products that caters to the international business/expat marketplace including term life insurance, disability insurance, medical insurance, accidental death insurance and kidnap/ransom insurance.
The International Term Life Plan provides worldwide life insurance without any exclusion for terms up to 10 years. It is available to U.S. citizens living anywhere in the world, and is a great all-around resource for companies with foreign-based employees as well as individual U.S. expats.
Regarding disability insurance, Petersen has viable solutions for international risk including personal DI and business coverage. The disability offerings are available on an individual basis as well as a guaranteed-issue group basis, providing many options for the U.S.-domiciled interests found throughout the world including multi-national corporate entities and law firms.
And since most ACA-compliant healthcare lacks comprehensive international benefits, Petersen has also developed a major medical and travel insurance program called the USAway International Major Medical Plan. The product provides affordable healthcare to Americans working and residing overseas for any length of time and has ancillary benefits for sports, war risk and terrorism.
Petersen International additionally offers high-limit accidental death insurance. The accident and dismemberment benefits are great solutions to supplement group life plans as well as providing substantial death benefits to those living and working in relatively high-risk locales throughout the world. The Petersen plan also includes benefits for exposure to most acts of terrorism or war.
Further considering insurance in those more hazardous countries on this planet, Petersen has the highest regarded Kidnap & Ransom (K&R) insurance program in the market. With a focus on physically and financially protecting innocent Americans who are detained against their will, Petersen’s K&R platform provides a myriad of financial benefits as well as the employment of a professional crisis response team throughout such an abduction.
Petersen’s entire bespoke international line can be designed to provide coverage for an individual client or for a group with an employee-benefit structure. Contact our headquarters at (800)345-8816 to learn more about insurance solutions for your clients living outside the United States.