Do any companies sell Level Term LIfe Insurance in Thailand?

[LuckyG]

Greetings! I was in the Life insurance business in the USA for 25 years.  The products are very different in Thailand.

Have any expats here purchased Level Term Life insurance in Thailand? If so, from what company?  I own plenty of life insurance in the states but the amount I want to leave to my Thai Wife will be slammed with Estate Taxes from the USA (because Unified credit does not apply to Non-US citizens). I am hoping to purchase a level term product with her the owner and beneficiary.  Does anyone know anything about the availability of level term products in Thailand? Thanks!

[Etaoin Shrdlu]

I think you might want to take a closer look at how US federal estate taxes work. 

 

My understanding is that the unlimited marital deduction does not apply if your non-citizen spouse inherits your assets, but the 12.06 million (for 2022) personal exemption can be applied toward assets she inherits. Unless your assets exceed 12.06 million, she can inherit them without having to pay federal estate taxes.

 

I'm not a tax professional, but this is my understanding after having also researched this issue recently.

[LuckyG]

Thanks, but I have taken many close looks.  Im not a tax professional either, but i worked in Estate planning (funding trust w life insurance) for 25 years. The personal exemption you speak of is called the Unified Credit and it, like the unlimited Marital Deduction, does not apply to non-US citizen beneficiaries that are Thai, because the US does not have an Estate Tax treaties with Thailand, as it does with many countries.  Insurance proceeds will be subject to estate taxes when paid to a non-US citizen that does not live in a country that the US has a tax treaty with.