I don’t like to play on people’s fears when helping with life insurance, but let’s be practical. If you are a missionary, business person or civilian contractor with ties to the US and you’re working in areas of the world where bad people are playing the wreaking havoc game and being American targets gets them the most points, life insurance that speaks directly to acts of war and terrorism and offers coverage world wide is something worth consideration.
Let’s talk about the market above in the context of traditional life insurance because there are two very important things that need to be addressed. 1. If you already have life insurance in force prior to considering adding travel to dangerous places to your portfolio, you’re good to go. Your current coverage will cover you for changes in your life even if there is more risk involved. If during the first two years of the policy, the contestability period, you win a trip to go fly fishing in Afghanistan, the company is free to investigate whether that was planned at the time of your application or if you really did just sign up for a raffle. If there was no plan at the time of application to fly fish the Middle East, they have to pay. No question. They have to pay. 2. If you don’t have life insurance and decide you need some because you are going into one of the areas discussed in the first paragraph you WILL NOT get approved through traditional companies.
I had a client who went to work in Afghanistan as a civilian contractor and I got an email from him today, safely home from his experience. From his email, “Good news and bad. Home from Afghanistan but that means I don’t need the insurance anymore. Thanks again for helping me have peace of mind while the 107mm rockets fell.” And he didn’t pay that much for the peace of mind.
Let me just add one thing about traditional life insurance and acts of war and terrorism. If you have or if you buy traditional life insurance and aren’t planning on going dangerous places, but you die in a terror attack somewhere not considered dangerous, you’re covered. Life insurance used to have a “war clause” saying that it didn’t pay if you died in a war. That’s ancient history, so ancient in fact that it was before terrorism became a household word. It is highly unlikely there are any policies in force today that still have a war clause.
If you have any questions or need quotes for short or long term missionary work, business travel insurance or civilian contracting in sketchy places, call or email us. We can help.
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