Top Life Insurance Companies That Accept ITIN in 2022
Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance.
Not only does he strive to provide you with the …
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Written by
Jeffrey Manola
Founder & Licensed Agent
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs.
She has since used that knowledge in her more than ten years as a writer, largely in the insur…
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Reviewed by
Leslie Kasperowicz
Farmers CSR for 4 Years
UPDATED: Dec 9, 2021
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Facts You Should Know
You can get life insurance with an ITIN
Life insurance rates with an ITIN are the same as for other applicants
Federal law protects death benefits
Life insurance quotes are available with an ITIN. This proof of identification will allow you to get coverage, and federal law ensures your beneficiaries will receive the death benefit.
Knowing the life insurance companies that accept ITIN numbers will help you find the best policy. We have what you need to know below.
Before learning about life insurance companies that accept ITIN numbers, enter your ZIP code to get free life insurance quotes in your area.
How much is coverage from life insurance companies that accept ITIN numbers?
Can you get life insurance with an ITIN? Yes, it’s possible to get a life insurance policy if you only have an ITIN, although not all companies will insure you.
You can find the best rates by comparing life insurance companies. The following charts show the average monthly term life insurance quotes for a 20-year policy at $1 million by company and age.
Average Male Monthly Rates from Life Insurance Companies That Accept ITIN: 20-year term at $1 million
AgeBanner Life Average Monthly Life Insurance RatesPacific Life Average Monthly Life Insurance RatesPrincipal Average Monthly Life Insurance RatesJohn Hancock Average Monthly Life Insurance RatesMutual of Omaha Average Monthly Life Insurance Rates
35$61.85$61.93$62.57$71.26$74.18
45$141.28$141.37$142.94$160.46$171.36
55$341.56$341.65$345.58$360.76$406.14
65$1,145.78$1,145.79$1,177.85$1,184.66$1,359.02
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The following chart shows the same information for females.
Average Female Monthly Rates from Life Insurance Companies That Accept ITIN: 20-year term at $1 Million
AgeBanner Life Average Monthly Life Insurance RatesPacific Life Average Monthly Life Insurance RatesPrincipal Average Monthly Life Insurance RatesJohn Hancock Average Monthly Life Insurance RatesMutual of Omaha Average Monthly Life Insurance Rates
35$46.63$46.72$47.18$57.32$61.28
45$108.32$108.41$109.60$126.19$131.80
55$240.15$240.24$242.98$290.08$295.20
65$770.10$755.47$764.54$889.81$920.42
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As you can see, the best life insurance rates are from Banner. Additionally, rates for females are cheaper than for males. However, not all of these companies will be willing to issue you a policy, so do your research on each before you apply.
While rates are the same for documented and undocumented residents, applicants using an ITIN number might experience coverage limits. In many cases, these limits will range from $50,000 to $100,000. However, the coverage limits depend on the company you’re considering.
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How can you get coverage from life insurance companies that accept ITIN numbers?
Regardless of your residential status, life insurance companies require some form of identification to avoid fraud. Some of the ways that you can prove your identity include:
Social security number
Student visa
Green card
You may not have any of these if you are undocumented, and if that’s the case, you will need to find out what forms of identification the insurance company will accept.
The Internal Revenue Service provides workers with an individual taxpayer identification number (ITIN) for tax processing. The number is provided to those that are not U.S. citizens but have a need for a tax number, including:
Undocumented immigrants
Foreign nationals
Resident aliens
In addition to using the number as identification, you can use it to open a bank account, file taxes, and purchase life insurance. Some might be concerned about providing their identity as an undocumented person, but life insurance companies won’t check your immigration status.
So you can use your ITIN, but how do you find it? To get an ITIN, you need to fill out a W-7. The IRS will process it and send you documentation with your ITIN. It’s important to keep it in a safe place. If you lose your number, contact the IRS.
What are other requirements to apply for life insurance?
In addition to providing identification, an applicant must be a resident of the United States and have a U.S. bank account. This is because many companies only offer coverage to people living in the U.S., and a domestic bank account allows the company to withdraw payments.
Other documents are recommended but not required. To make the application process go quickly, you can provide:
Driver’s license
Doctor’s information and last seen
Employment history
You can find coverage with an ITIN, but there are life insurance companies that don’t accept ITIN numbers. Therefore, when considering life insurance companies’ quotes that accept ITIN numbers, you should verify that each company will take this form of identification.
Will you receive death benefits from life insurance companies that accept ITIN numbers?
According to the Insurance Information Institute, a beneficiary is a person or entity that receives a policy’s death benefit. So while you can find coverage acceptance, how do you know that your beneficiary will receive the death benefit?
Some might be concerned that federal agencies, like immigration and customs enforcement (ICE), will stop your beneficiary from receiving the benefit. Agencies can hold your payout while they verify your legal status, but they won’t get that information from a life insurance company or your policy.
Additionally, federal law requires the funds from a policy to go to the beneficiary, regardless of legal status. Consulting an immigration lawyer will ensure you know your rights and that your beneficiary receives the total payout.
Life Insurance Companies That Accept ITIN: The Bottom Line
You can get life insurance with an ITIN as long as you also have a U.S. address and bank account. The rates for those using an ITIN are the same as for other applicants, and federal law ensures your beneficiary will get the death benefit.
Learning more about life insurance companies that accept ITIN will help you find the best coverage.
Now that you know about life insurance companies that accept an ITIN enter your ZIP code to find free life insurance rates in your area.
