{"id":4113,"date":"2026-10-22T01:39:14","date_gmt":"2026-10-22T01:39:14","guid":{"rendered":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-foreign-national-owner\/"},"modified":"2026-10-30T02:38:28","modified_gmt":"2026-10-30T02:38:28","slug":"key-person-insurance-foreign-national-owner","status":"publish","type":"page","link":"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-foreign-national-owner\/","title":{"rendered":"Key Person Insurance for a Foreign National Owner, Florida"},"content":{"rendered":"\n<div class=\"wp-block-cover alignfull is-dark chg-hero\" style=\"min-height:460px;aspect-ratio:unset;\"><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-80 has-background-dim wp-block-cover__gradient-background has-background-gradient\" style=\"background:linear-gradient(90deg,rgba(32,36,46,1) 0%,rgba(32,36,46,1) 55%,rgba(32,36,46,0.7) 100%)\"><\/span><img class=\"wp-block-cover__image-background wp-image-4112\" alt=\"Senior operations manager reviews production schedules at a workstation in a manufacturing facility while colleagues work nearby.\" src=\"https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo.jpg\" width=\"1376\" height=\"768\" srcset=\"https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo-150x150.jpg 150w, https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo-300x167.jpg 300w, https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo-768x429.jpg 768w, https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo-1024x572.jpg 1024w, https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/senior-operations-manager-reviews-production-schedules-at-a-photo.jpg 1376w\" sizes=\"(max-width: 825px) 825px, 100vw\" fetchpriority=\"high\" decoding=\"async\"\/><div class=\"wp-block-cover__inner-container has-global-padding is-layout-constrained wp-block-cover-is-layout-constrained\">\n<p class=\"chg-eyebrow has-base-color has-text-color wp-block-paragraph\" style=\"text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Key Person Insurance | Florida<\/p><h1 class=\"wp-block-heading has-base-color has-text-color\" style=\"text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Key Person Insurance for a Foreign National Owner in Florida<\/h1><p class=\"has-base-color has-text-color wp-block-paragraph\" style=\"font-size:clamp(0.875rem, 0.875rem + ((1vw - 0.2rem) * 0.625), 1.25rem);text-shadow:0 1px 3px rgba(0,0,0,0.6),0 0 18px rgba(0,0,0,0.35)\">Life insurance that a business owns on a key person, reviewed with the tax and cash-flow view of a CPA firm. Insurance is offered by Nischay Rawal, a licensed insurance agent, separately from the firm&#x27;s accounting practice.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+19542316613\">Call us today for a coverage review<\/a><\/div><div class=\"wp-block-button chg-cta chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Call us today for a coverage review<\/a><\/div><\/div>\n<\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\" style=\"font-size:0.85rem;color:#6b7280;margin-bottom:1.5rem\">By Nischay Rawal \u00b7 Published October 21, 2026<\/p>\n\n<article lang=\"en\">\n\n\n<p>Key person insurance is a life insurance policy a company buys on someone whose death would hurt the business. When that person is a foreign national owner or officer, the company needs the same planning plus several extra checks. This guide covers the policy roles, Florida consent rules, underwriting paperwork, and the tax questions a CPA should review.<\/p>\n<p>NR CPAs &amp; Business Advisors is a Miami CPA firm that serves Florida businesses in Miami, Fort Lauderdale, West Palm Beach, Orlando, Tampa, and Jacksonville. Insurance is offered by our licensed agent, Nischay Rawal, separately from the accounting practice.<\/p>\n<h2>What Key Person Insurance Is and Who It Fits<\/h2>\n<p><a href=\"\/life-insurance-guides\/key-person-insurance\/\">Key person insurance<\/a> is life insurance the business owns on a key person, and the business receives the payout. The <a href=\"https:\/\/www.iii.org\/publication\/insuring-your-business-small-business-owners-guide-to-insurance\/specific-coverages\/life-insurance-for-key-employees\">Insurance Information Institute<\/a> describes it as a way to compensate a business for financial losses caused by the death or disability of a key employee.<\/p>\n<p>Typical key persons include:<\/p>\n<ul>\n<li>Owners and co-founders<\/li>\n<li>Officers, such as a president or chief financial officer<\/li>\n<li>Top producers who bring in much of the revenue<\/li>\n<li>Technical leaders whose skills the company can&#8217;t easily replace<\/li>\n<\/ul>\n<p>A foreign national owner or officer raises the same questions. You also need to confirm consent, document residence and identity, and plan for where the beneficiary lives. Florida law requires an agent to be licensed and appointed before acting as one, under <a href=\"https:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0600-0699\/0626\/Sections\/0626.112.html\">Fla. Stat. \u00a7 626.112<\/a>.<\/p>\n\n<figure class=\"wp-block-image size-large has-custom-border\"><img decoding=\"async\" src=\"https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/two-professionals-collaborating-at-laptops-in-a-modern-offic-photo-2.jpg\" alt=\"Two professionals work side by side on laptops in a modern office, collaborating on their projects.\" style=\"border-radius:8px;width:100%;aspect-ratio:16\/9;object-fit:cover\"\/><\/figure>\n\n<div class=\"cta-dose-mid wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Not sure what your next step is?<\/h3><p class=\"wp-block-paragraph\">Talk it through with our team &#8212; we can walk you through how a situation like yours is usually handled and what your options are.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13058723096\">Schedule a coverage review<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Schedule a coverage review<\/a><\/div><\/div>\n<\/div>\n<h2>How the Policy Roles and Coverage Work<\/h2>\n<p>A key person policy has three roles: owner, insured, and beneficiary. In most cases the company owns the policy, the key person is the insured, and the company is the beneficiary.<\/p>\n<ul>\n<li><strong>Policy owner:<\/strong> the party that pays the premiums and controls the policy.<\/li>\n<li><strong>Insured:<\/strong> the key person whose life is covered.<\/li>\n<li><strong>Beneficiary:<\/strong> the party that receives the death benefit.<\/li>\n<\/ul>\n<p>Florida law requires an insurable interest. That applies when the key person gives written consent before the insurance is bought. The statute also bars the business from retaliating against a key person who refuses consent. Keep the signed consent in the company&#8217;s records.<\/p>\n<p>The death benefit should match a written loss estimate. Companies often plan for replacement hiring, lost revenue during a transition, debt payoff, and steady operations. Write each cost down. The total becomes the amount you discuss in the coverage review, not a guess.<\/p>\n<p>Policy type is a separate choice. The <a href=\"https:\/\/content.naic.org\/sites\/default\/files\/publication-lig-lp-consumer-life.pdf\">NAIC Life Insurance Buyer&#8217;s Guide<\/a> explains term and permanent coverage, how much to buy, and questions to ask before buying. The coverage review covers whether term or whole life coverage fits the company&#8217;s need.<\/p>\n<h2>How Foreign National Status Affects Underwriting and Paperwork<\/h2>\n<p>Foreign national status does not block a key person policy, but it changes the paperwork. Underwriters usually ask for:<\/p>\n<ul>\n<li>Country of residence and current address<\/li>\n<li>Visa or immigration status<\/li>\n<li>Travel history and time spent outside the U.S.<\/li>\n<li>Identity documents that match the application and company records<\/li>\n<\/ul>\n<p>Fully underwritten policies require health questions. Issue may depend on insurability. Underwriting rules vary by carrier and by each case, so the timeline can differ from one file to another.<\/p>\n<p>Location also affects payment. If the insured or the beneficiary lives outside the country, the premium payment method and beneficiary paperwork need review before issue. Mismatched names or dates slow a file down, so check every document against the application.<\/p>\n<h2>Tax and Cash Flow Questions a CPA Should Review<\/h2>\n<p>Premiums come out of company cash, and the tax result depends on how the policy is owned. Under <a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/264\">26 U.S.C. \u00a7 264<\/a>, no deduction is allowed for premiums on a life insurance policy when the company is directly or indirectly a beneficiary, so the company&#8217;s CPA should review this before the first premium.<\/p>\n<p>That general rule has exceptions, including the transfer-for-value rule. Any change in ownership or beneficiary needs review first.<\/p>\n<p>Federal law also defines a &#8220;reportable policy sale.&#8221; It is the acquisition of an interest in a life policy by someone with no substantial family, business, or financial relationship with the insured, apart from that interest.<\/p>\n<p>Two more rules can apply. If the decedent held ownership rights in the policy, proceeds can count in the gross estate under <a href=\"https:\/\/www.law.cornell.edu\/uscode\/text\/26\/2042\">26 U.S.C. \u00a7 2042<\/a>.<\/p>\n<p>Foreign-owner status can add reporting questions for the company and its owners. Our CPA review of those questions is separate from the insurance sale. Tax treatment depends on the facts of each company and policy.<\/p>\n\n<div class=\"cta-dose-mid wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Have questions about what happened?<\/h3><p class=\"wp-block-paragraph\">Ask our team directly. Tell us what you are dealing with and we will explain how the process works from here.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13058723096\">Talk to our team<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Talk to our team<\/a><\/div><\/div>\n<\/div>\n<h2>How the Coverage Review and Process Works<\/h2>\n<p>A coverage review is the first meeting, and it gathers the facts before any policy is chosen. The usual steps are:<\/p>\n<ol>\n<li><strong>Coverage review.<\/strong> Gather ownership records, key person roles, and the company&#8217;s written loss estimate.<\/li>\n<li><strong>Insurable interest check.<\/strong> Confirm written consent and decide which entity will own and pay for the policy.<\/li>\n<li><strong>Application.<\/strong> Complete the health questions and foreign national documentation. Health questions are required, and issue may depend on insurability.<\/li>\n<li><strong>Underwriting.<\/strong> The carrier reviews the file. The length varies by carrier and by case.<\/li>\n<li><strong>Policy issue.<\/strong> Set up premium payments and review the policy each year, or whenever ownership or roles change.<\/li>\n<\/ol>\n<p>Each step depends on the one before it. Ask for the policy&#8217;s terms, limitations, and exclusions in writing before you sign. Skipping the written consent step is a mistake that Florida law addresses directly.<\/p>\n<h2>Coordinating Key Person Coverage with Buy-Sell Agreements and Continuity Planning<\/h2>\n<p>Key person coverage protects the business&#8217;s operations. Buy-sell agreement insurance funds the purchase of a departing owner&#8217;s share. The two policies do different jobs, so don&#8217;t mix them up.<\/p>\n<p>If a foreign national co-owner is part of a buy-sell agreement, the buyout price should match the policy&#8217;s face amount. The beneficiary named on the policy should match the agreement too. A mismatch can leave the surviving owners short of cash when they need it most.<\/p>\n<p>A written continuity plan helps the company use the death benefit for its stated purposes. The plan should name who runs daily operations, who signs bank documents, and how the business will communicate with staff and clients. NR CPAs &amp; Business Advisors also offers buy-sell agreement insurance and NRI life insurance, and we can review how they fit with key person coverage.<\/p>\n\n<figure class=\"wp-block-image size-large has-custom-border\"><img decoding=\"async\" src=\"https:\/\/nrcpas.com\/life-insurance-guides\/wp-content\/uploads\/2026\/10\/a-skilled-artisan-carefully-works-on-metal-with-precision-to-photo.jpg\" alt=\"A skilled artisan works on metal with precision tools in a workshop.\" style=\"border-radius:8px;width:100%;aspect-ratio:16\/9;object-fit:cover\"\/><\/figure>\n<h2>Frequently Asked Questions<\/h2><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Can a life insurance beneficiary be outside the US?<\/summary><p>A beneficiary&#8217;s location goes on the application and affects payment logistics. The details are worked out in the coverage review.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Is keyman insurance life insurance?<\/summary><p>Yes. Keyman insurance, also called key person coverage, is a life insurance policy the company owns on a key person.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Who is a third party owner in a life insurance policy?<\/summary><p>A third party owner is an owner other than the insured, such as the company. That owner controls the policy and affects who can make changes to it.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>What happens if a policy is transferred for value?<\/summary><p>The transfer-for-value rule can change how the death benefit is taxed. Review comes before any change in ownership.<\/p><\/details><details class=\"wp-block-details chg-faq is-layout-flow wp-block-details-is-layout-flow\"><summary>Do we need a health exam?<\/summary><p>Health questions are required, and issue may depend on insurability. The carrier decides whether an exam is part of the file.<\/p>\n<p>If you&#8217;re reviewing this for a company with a foreign national owner or officer, you may be carrying these questions for someone else. Reach out through our <a href=\"https:\/\/nrcpas.com\/contact\">contact page<\/a> to set up a coverage review.<\/p><\/details><\/article>\n<footer class=\"disclaimer\"><em>NR CPAs &amp; Business Advisors, LLC, 782 NW 42nd Avenue, Suite 534, Miami, FL 33126. Life insurance is offered by Nischay Rawal, a Florida-licensed life and health insurance agent (license G066337). This page is general information about life insurance, not tax, legal or investment advice, and not an offer of any specific policy. Coverage, premiums and benefits depend on the issuing insurer&#x27;s underwriting and the policy&#x27;s terms. Policy loans and withdrawals reduce cash value and the death benefit and may have tax consequences.<\/em><\/footer>\n\n\n<div class=\"wp-block-group alignwide has-global-padding is-layout-constrained wp-container-core-group-is-layout-583d630a wp-block-group-is-layout-constrained\" style=\"padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n\n<div class=\"cta-dose-mid wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Want to know where you stand?<\/h3><p class=\"wp-block-paragraph\">Tell us about your situation and our team will walk you through the options available to you.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+13058723096\">Request a coverage review<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Request a coverage review<\/a><\/div><\/div>\n<\/div>\n<h2 class=\"wp-block-heading has-text-align-center\">How we approach key person coverage<\/h2>\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--document\"><\/span><\/p><h3 class=\"wp-block-heading\">Coverage review first<\/h3><p class=\"wp-block-paragraph\">Our coverage review is the first meeting. We look at the business, the key person&#x27;s role and the owner&#x27;s goals before any policy is discussed.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--shield\"><\/span><\/p><h3 class=\"wp-block-heading\">Ownership and beneficiary planning<\/h3><p class=\"wp-block-paragraph\">We help structure who owns the policy and who is named as beneficiary so the arrangement matches how the business is organized.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--users\"><\/span><\/p><h3 class=\"wp-block-heading\">Foreign national owners<\/h3><p class=\"wp-block-paragraph\">For owners living outside the United States or holding a foreign passport, we review application questions, beneficiary location and payment logistics early.<\/p><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><p class=\"wp-block-paragraph\"><span class=\"chg-icon chg-icon--lightbulb\"><\/span><\/p><h3 class=\"wp-block-heading\">Tax and cash-flow view<\/h3><p class=\"wp-block-paragraph\">Because we are a CPA firm, we look at how premiums and proceeds affect the business&#x27;s books, taxes and cash flow alongside the coverage itself.<\/p><\/div><\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-group has-base-color has-accent-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-32197852 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--accent,#20242e);color:var(--wp--preset--color--base,#ffffff);border-radius:8px;padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem;border-left:6px solid var(--wp--preset--color--cta,currentColor);box-shadow:0 2px 10px rgba(0,0,0,0.18)\">\n<h3 class=\"wp-block-heading has-base-color has-text-color\">Important<\/h3><p class=\"wp-block-paragraph\">Key person insurance is a life insurance policy the business owns on a key person. Coverage depends on the application, health questions and underwriting, so issue is not assured. Dividends, where offered, are not guaranteed. Insurance is offered by Nischay Rawal, a licensed insurance agent, separately from our accounting practice.<\/p><div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+19542316613\">Ask us how this applies to your business<\/a><\/div><div class=\"wp-block-button chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Ask us how this applies to your business<\/a><\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-surface-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-583d630a wp-block-group-is-layout-constrained\" style=\"padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n<h2 class=\"wp-block-heading has-text-align-center\">Coverage types we discuss<\/h2>\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-f56f613f wp-block-columns-is-layout-flex\"><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Key person insurance<\/h3><p class=\"wp-block-paragraph\">Life insurance the business owns on a person whose work is essential to its operations.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Whole life insurance<\/h3><p class=\"wp-block-paragraph\">A whole life insurance policy is permanent coverage with a cash value component. Dividends, where offered, are not guaranteed.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Term life insurance<\/h3><p class=\"wp-block-paragraph\">Coverage for a set period of years, reviewed against the business&#x27;s needs and the owner&#x27;s timeline.<\/p><\/div><\/div><div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><div class=\"wp-block-group has-base-background-color has-background is-layout-flow wp-block-group-is-layout-flow\" style=\"border-radius:8px;box-shadow:0 4px 14px rgba(0,0,0,0.08);padding-top:1.5rem;padding-bottom:1.5rem;padding-left:1.5rem;padding-right:1.5rem\"><h3 class=\"wp-block-heading\">Buy-sell agreement insurance<\/h3><p class=\"wp-block-paragraph\">Life insurance that can help fund an agreed purchase of an owner&#x27;s interest when an owner dies, as set out in the agreement.<\/p><\/div><\/div><\/div>\n\n<\/div>\n\n\n\n<div class=\"wp-block-group alignfull has-base-color has-primary-background-color has-text-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-4d466591 wp-block-group-is-layout-constrained\" style=\"background-color:var(--wp--preset--color--primary,#20242e);color:var(--wp--preset--color--base,#ffffff);padding-top:3rem;padding-bottom:3rem;padding-left:1.5rem;padding-right:1.5rem\">\n<h2 class=\"wp-block-heading has-text-align-center has-base-color has-text-color\">Ready to talk through key person coverage for your business?<\/h2>\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-0aa01211 wp-block-buttons-is-layout-flex\"><div class=\"wp-block-button chg-cta chg-cta-call\"><a class=\"wp-block-button__link wp-element-button\" href=\"tel:+19542316613\">Call us today for a coverage review<\/a><\/div><div class=\"wp-block-button chg-cta chg-cta-form\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/nrcpas.com\/contact\">Call us today for a coverage review<\/a><\/div><\/div>\n<\/div>\n\n<!-- chg:section-siblings -->\n<nav aria-label=\"More in this section\">\n<h2>More in this section<\/h2>\n<ul><li><a href=\"\/life-insurance-guides\/key-person-insurance\/key-person-insurance-foreign-owned-us-company\/\">Key Person Insurance for a Foreign-Owned US Company: Ownership, Insurable Interest and Who Signs the Application<\/a><\/li><li><a href=\"\/life-insurance-guides\/key-person-insurance\/key-person-insurance-founder-shareholders-abroad\/\">Key Person Insurance for Founder-Led Companies With Shareholders Abroad<\/a><\/li><li><a href=\"\/life-insurance-guides\/key-person-insurance\/key-person-insurance-franchise-business\/\">Key Person Insurance for a Franchise Business in Florida<\/a><\/li><li><a href=\"\/life-insurance-guides\/key-person-insurance\/key-person-insurance-green-card-sponsor-employer\/\">Key Person Insurance for Companies That Sponsor an Employee&#x27;s Green Card<\/a><\/li><li><a href=\"\/life-insurance-guides\/key-person-insurance\/key-person-insurance-h1b-l1-business-owner\/\">Key Person Insurance for an H-1B or L-1 Business Owner: Coverage, Ownership and Visa Questions<\/a><\/li><\/ul>\n<\/nav>\n<!-- \/chg:section-siblings -->","protected":false},"excerpt":{"rendered":"<p>How key person insurance works when a company&#8217;s owner or officer is a foreign national: roles, insurable interest, underwriting, and tax questions.<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":16,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"chg_review":"","chg_sendback":"","chg_canonical":"","chg_lang":"","chg_hreflang":"[{\"hreflang\": \"en\", \"href\": \"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-foreign-national-owner\/\"}, {\"hreflang\": \"es\", \"href\": \"https:\/\/nrcpas.com\/life-insurance-guides\/es\/seguro-persona-clave\/seguro-persona-clave-propietario-extranjero\/\"}, {\"hreflang\": \"x-default\", \"href\": \"https:\/\/nrcpas.com\/life-insurance-guides\/key-person-insurance\/key-person-insurance-foreign-national-owner\/\"}]","chg_jsonld":"[{\"name\": \"Key Person Insurance for a Foreign National Owner or Officer\", \"@type\": [\"Service\", \"FAQPage\"], \"about\": [{\"name\": \"Key person insurance\", \"@type\": \"Thing\"}, {\"name\": \"Insurable interest\", \"@type\": \"Thing\"}, {\"name\": \"Buy-sell 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Review comes before any change in ownership.\"}}, {\"@type\": \"Question\", \"name\": \"Do we need a health exam?\", \"acceptedAnswer\": {\"@type\": \"Answer\", \"text\": \"Health questions are required, and issue may depend on insurability. The carrier decides whether an exam is part of the file. If you're reviewing this for a company with a foreign national owner or officer, you may be carrying these questions for someone else. 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