Mass Mutual has made enhancements to our High Net Worth Foreign National (HNWFN) guidelines. Below are several key changes, including:
- Revised NEXUS requirements, resulting in more clients having established ties to the U.S..
- Increased internal retention limits:
- Residents of “A” countries can qualify for up to $20 million (previously $7.5 million) *
- Residents of “B” countries can qualify for up to $15 million (previously $5 million) *
- If U.S. based need for coverage is established, may be able to consider global assets in determining coverage need.
- A decreased minimum face amount, along with an alternative minimum base annual premium.
*Refer to the latest country classifications. All existing and applied-for coverage with MassMutual reduces available retention. Maximum retention limits are subject to case details, including the insured’s age and risk class.