Last July, we launched enhancements to Symetra’s high-net-worth foreign national (HNWFN) market program. At that time, we made a commitment to continually evaluate and, where possible, make improvements to our program. We are pleased to announce the following enhancements:
- We will now allow premium financing for eligible clients. Eligible clients must have a net worth of at least $5 million and an annual income of at least $200,000. Please review our updated premium financing guidelines (PDF) for details.
- We will accept juvenile cases for qualifying individuals. Eligible issue ages are 15 days old up to 17 years old. Our program overview and underwriting guidelines (PDF) provide additional details on our requirements.
- We’ve made changes to our nexus requirements where a U.S. bank account or brokerage account is the only nexus/connection. We will now require a $25,000 minimum balance that’s at least one month old.
- We will reimburse up to $300 for the cost of translating attending physician statements (must be translated into English by a non-related, certified, third-party translation agency) on cases submitted beginning June 8, 2020, if the policy is issued and placed in-force with Symetra.
We are excited to announce these enhancements and are committed to the high‑net‑worth foreign national market. As with all of our business, we continue to follow CDC guidelines and will continue to underwrite applications on a case-by-case basis.