Immigration status and life insurance

G

gc092602

Registered Users (C)
We are denied life insurance coverage by SBLI based on AOS. We sent them EAD and they came with the conclusion that we will have to leave US at the EAD expiration date so they cannot consider us.

I told the rep. that we already applied for renewal and unfortunately we must renew every year and there will not be any long term EAD.

Is it discrimination?

Anyway rather that fighting that I would like your feedback on

Did any of you have had life insurance coverage with SBLI before getting you GC? If yes, what proof of permanent/long-term residency you gave?

Any recommendation for a life insurance provider who would provide term insurance for 30-year (many providers do 20 year term but we went with SBLI as they provide 30-year) on a very competitive rate

Thank you so much
 
Originally posted by gc092602
We are denied life insurance coverage by SBLI based on AOS. We sent them EAD and they came with the conclusion that we will have to leave US at the EAD expiration date so they cannot consider us.

I told the rep. that we already applied for renewal and unfortunately we must renew every year and there will not be any long term EAD.

Is it discrimination?

Anyway rather that fighting that I would like your feedback on

Did any of you have had life insurance coverage with SBLI before getting you GC? If yes, what proof of permanent/long-term residency you gave?

Any recommendation for a life insurance provider who would provide term insurance for 30-year (many providers do 20 year term but we went with SBLI as they provide 30-year) on a very competitive rate

Thank you so much
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THAT IS THE UNCERTANITY FACTOR. I HAVE A SIMILAR SITUATION.
I HAVE A HOUSE AND DO NOT HAVE ENOUGH LIFE INS. I am covered by my work to some extent though. I was denied atleast 3 times for lack of GC. AOS is no good for these things. Nobody understands AOS. I tried to find one who will provide me but was not successful. I have stopped trying altogether and waiting for approval (which I am sure will happen in a decade's :)mad: :mad: :mad: ) time.
 
Please

let Mr. Khanna know about these issues asap. I honestly believe he needs to know before the trial hearing date. One needs to have life insurance, more so if one has a family.

Even lenders for home mortgage shy away from lending as they have no idea what AOS is.

You might want to post in the new forum "hearing..."

thanks
 
Similar thing happened to me

Life insurance they rejected for the same reason for me and a friend of mine too, also I tried to open a Savings account with ING direct and they also rejected me saying that I don't have a green card, even they printed the same thing on their terms and conditions document saying only permanent residents and citizens are eligible to open the savings account
 
I was rejected by GE fin.
Now my policy is thru Prudential. Difference in premium is n't much.
I know it is availble from fidelity too.
 
3 years ago i took a 30 year term policy from SBLI and 20 yr policy from Guardian and neither of them asked me for GC at that time.Recently i contacted SBLI to get more coverage and was told that according to "Patriot Act" they can't issue new policy unless i have my GC,but they will continued to be covered the current policy.


CSB
 
Re: Please

Originally posted by M101
let Mr. Khanna know about these issues asap. I honestly believe he needs to know before the trial hearing date. One needs to have life insurance, more so if one has a family.

Even lenders for home mortgage shy away from lending as they have no idea what AOS is.

You might want to post in the new forum "hearing..."

thanks
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DO NOT WORRY. I HAVE ALREADY CONVEYED THIS IN THE E-MAIL AS ONE OF THE MANY HARDSHIPS A IMMIGRANT-TO-BE IS SUFFERING FROM (THAT IS IN ADDITION TO THE SPRING ALLERGY I AM SUFFERING FROM)
 
Nationwide

I got life insurance from Nationwide after a lay off last year as I lost life insurance that I had through my employer. They were fine with my H1B at the time, don't know if they have changed policy since then.
But in a related incident, recently we were contacted repeatedly by Citibank for remortgaging our house (because of low interest rates) and finally when we gave in and decided to go for it, they asked questions for over 30 mins and in the end when it came to the question of immigration status, they said they cannot go ahead with our application because we were not permanent residents. The funny thing is our current mortgage is already with Citibank who bought it off another company that we got the mortgage from orginally!
I did try to argue that we were going through AOS and that our immigraiton peition was already approved etc but they were not convinced. I told the agent to make sure he clarifies the immigration status of the client first and only then ask his stupid questions from the form so we both don't waste our precious time!!
I do feel discriminated against but I hear some people who are on H1B cannot even get a mortgage. Has this happened to anyone?
silent.
 
guys please post what type of policy you guys have and which one is best for folks who are on AOS

Thanks
 
I have had Life Insurance from New York Life for the past 5 years. I first got it when I was on h1. There was no issue about my H1 at all.
 
I have a whole life insurance through State farm. Even though the rates are higher, there are some returns in the form of dividends a few years into the policy. I personally feel that term life insurance is money down the drain (ofcourse, assuming that the insured will outlive the term - 15/20/30 years). My 2 cents.
 
Thank you all for sharing your experiences. Thanks to pingpong2 for the brilliant suggestion of expedite request based on this denial. No harm in trying

485 RD 9/26/02
3RD EAD applied on 4/29/04 no receipt yet
 
Originally posted by nkaveti
I personally feel that term life insurance is money down the drain (ofcourse, assuming that the insured will outlive the term - 15/20/30 years). My 2 cents.
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Having worked in the insurance industry, I can tell you that there is a 99% chance you would be better off if you only bought term life insurance, and then invested the premium savings in an IRA or Roth.
 
I signed up with Northwestern Mutual before I got my approval. The agent just asked me how long I had been in the US. I don't know what the cut-off point is, but in my case, I had been in the US almost 14 yrs by that time.
 
Originally posted by TheRealCanadian
Having worked in the insurance industry, I can tell you that there is a 99% chance you would be better off if you only bought term life insurance, and then invested the premium savings in an IRA or Roth.
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Can you elaborate more?
 
Originally posted by Kanadian
Can you elaborate more?
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The commissions and fees on whole life are some of the highest in the industry. That's the third component of your premium, after the insurance premium and the excess that is invested.

Let's say a term life policy is $25.00 a month, and a whole life is $55.00 per month for the same level of coverage. If you bought term and put the extra $35 into a Roth, after 15 or 25 years you'd have far more money than with that whole life policy.

Whole life isn't a savings vehicle; it's insurance. Almost every financial planner who doesn't have a stake in selling it will tell you that it makes no financial sense unless you have maxed out all of your other savings vehicles such as IRAs, 401ks, 529s, etc. etc. That typically doesn't happen until your income exceeds $350,000 a year.
 
Thank you so much for the information.

Originally posted by TheRealCanadian
The commissions and fees on whole life are some of the highest in the industry. That's the third component of your premium, after the insurance premium and the excess that is invested.

Let's say a term life policy is $25.00 a month, and a whole life is $55.00 per month for the same level of coverage. If you bought term and put the extra $35 into a Roth, after 15 or 25 years you'd have far more money than with that whole life policy.

Whole life isn't a savings vehicle; it's insurance. Almost every financial planner who doesn't have a stake in selling it will tell you that it makes no financial sense unless you have maxed out all of your other savings vehicles such as IRAs, 401ks, 529s, etc. etc. That typically doesn't happen until your income exceeds $350,000 a year.
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