Quote:
Originally Posted by ccannan
The reason why EU/UK insurers won't touch Americans is because of FATCA reporting rules.
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FYI.
Which
insurance products are within the
scope of FATCA?
https://www2.deloitte.com/content/da...-insurance.pdf
Only "cash value
insurance contracts" and annuities are within FATCA. The intention is to catch
"savings" rather than risk products.
Cash value is defined as the amount that the policyholder can receive upon surrender or
termination. It excludes payments made regarding personal injury and sickness benefits. It also
excludes payments for insured risks and refunds of premiums (other than life policies) due to
cancellation,
price adjustment, etc.
Term life products are also out of
scope. This is intended to carve out life protection