Can the beneficiary for my life insurance be a non us citizen living in Germany (my parents)?
I'm a permanent resident (German citizen) and work and live here in the US. I have two live insurance policy's and would like to put my parents down as beneficiary for one of them. My parents are German citizens and live in Germany. How can I make them the beneficiary when they obviously don't have a Social Security Number and don't live here in the US. The form for the live insurance requested a SS#. How can I make sure my parents will get the insurance money in the case of my death? I am married and want my parents to get the money if me and my husband pass away at the same time.
Insurance - 5 Answers
Random Answers, Critics, Comments, Opinions :
1 :
You need to speak to the insurance companies about this.
2 :
You would submit a copy of the life insurance policy (or a letter from the insurance company) with a form W-7 for each parent to the IRS. This will get you a number to give to the insurance company.
3 :
You can make ANY entity - person, company, trust, non-profit organization, etc... a beneficiary. They DO NOT need to fill out any particular form. AND, you do not need to 'ask' the insurance company. You 'tell' the insurance company whom you want to be listed as the beneficiary.
4 :
It would be helpful to the insurance company if you give them your parents names, addresses and any ID number that they might have in their country. Not that you have to but it makes things easier if there is a claim.
5 :
lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.
