Designed exclusively for expatriates
With 70 years of firsthand experience protecting individuals working and living outside of their home country from certain financial risks, Clements Worldwide understands that your family’s fiscal stability is your top priority; especially should an untimely loss occur. For this reason, Clements makes membership to a Trust available to expatriates, which provides benefits including disbursements to beneficiaries for untimely death, an essential coverage that protects your loved ones against future financial burdens.
Financial experts urge all adults with financial obligations to explore life benefits. Almost 20% of U.S. adults are likely to die before the standard retirement age of 65 and the number is most likely higher for expatriates due to increased disease exposure, as well as more accidents or acts of political violence.
With benefit options ranging from one to ten years, the Trust is suitable for many expatriates, especially for those with debts, such as a mortgage, or dependents, such as children or a spouse.
- Benefits & Features
- Coverage Chart
Membership in the Trust ensures that the future financial needs of your family and loved ones are provided for should the unthinkable occur. Membership in the Trust provides the following:*
- No medical underwriting for membership up to USD 500,000*
- Portable primary or supplemental benefits that are payable whether you change jobs, retire, or move anywhere in the world*.
- Benefits as high as 10 times annual salary, up to USD 4 million (subject to medical underwriting)
- Competitive contribution amounts
- Coverage against death as a result of illness, accidents, and acts of war and terrorism*
- Membership benefits are insured by Isle of Man Assurance Limited, reinsured by Lloyd’s of London; administered by Clements Worldwide on behalf of The Law Trust Limited
*Limits and restrictions apply. Subject to policy terms and conditions as well as Actively at Work clause. Subject to certain country restrictions. Coverage is excluded in the United States and Canada and their territories and possessions. Members moving to restricted countries, including the United States and Canada, must terminate their membership.
Benefits are guaranteed through the Trust where plan assets are used for the exclusive purpose of providing such benefits, as long as membership contributions are met.
|Available Limits||10 times annual salary up to USD 4 million
1 to 10 year terms available
|Application||Online enrollment form|
|Contributions||Flexible payment plans available|
|Benefits Descriptions||Death all causes, including illness and accidents [inclusive of war & terrorism*]
Death natural causes only applicable in certain countries
|Key Exclusions||Suicide; death as a result of a criminal act by insured; death from nuclear, chemical, or biological weapons|
*Limits and restrictions apply. Subject to policy terms and conditions as well as Actively at Work clause. Subject to certain country restrictions. Coverage is excluded in the United States and Canada and their territories and possessions.
Am I eligible for membership in the Trust?
Most expats between the ages of 18 to 75 are eligible, subject to the Actively at Work clause.
What is the Actively at Work clause?
Actively at Work means the prospective member is present at their usual place of work and both mentally and physically capable of carrying out their normal day to day duties, including:
- You have not absent from employment through an accident or ill health for 10 days or more in the preceding twelve months; AND
- You have not had to reduce your working hours, change your normal working duties or change your normal work address as a result of illness or injury. This includes and is not limited to working from home; AND
- You have not received medical advice to refrain from work; AND
- You have not been subject to an additional Membership Fee of more than 150% or received restricted/declined benefits at any time for any membership benefits cover you have applied for.
- In the event that an employed person is part time, the number of days will need to be reduced pro-rata. For example a person working half the normal full time hours, will have to be fit and actively at work and had no more than 5 days off in the last 12 months.
Are the membership benefits of the Trust immediately available?
For accidents, benefits are immediately payable upon membership to the designated beneficiary.
For any death by natural causes there is a 6 month waiting period for benefits to be available
As an expatriate what other financial solutions should I consider to protect myself and my family?
Clements offers temporary and permanent disability insurance policies, to provide financial benefits if you are unable to work because of an accident or illness. The chance of an illness or accident that keeps you from working on a temporary or permanent basis is much higher than the chance of death before retirement age. Therefore, this is a critical coverage to partner with the Membership Trust for peace of mind.
You may also want to pursue a supplemental Personal Accident insurance policy. Beneficiaries not only receive a death benefit in the event of the insured’s accidental death during a business trip, vacation, or while going about daily life, but also reimbursement for accidents that result in dismemberment or loss of eyesight. Emergency medical evacuation protection is an additional benefit of the policy. Policies can be written on a group or individual basis, and offer flexible coverage periods. Our coverage begins at USD 100,000 per person and can be increased up to USD 1 million. This policy is particularly valuable if your country of residence is only eligible for Membership Trust benefits for natural causes only. Please click here for more information on Personal Accident Insurance.
Clements also offers insurance policies for auto and property protection, as well as individual health insurance. Please contact an account executive at Clements Worldwide at 1.202.872.0060 or1.800.872.0067 to discuss all your coverage needs.
Who administers the Membership Trust?
Membership benefits are insured by Isle of Man Assurance Limited, reinsured by Lloyd’s of London; Administered by Clements Worldwide on behalf of The Law Trust Limited.