Global life insurance refers to insurance policies that provide coverage for individuals on a worldwide scale. Unlike traditional life insurance policies that are limited to a specific country or region, global life insurance offers protection and benefits regardless of where the policyholder resides or travels.
The importance of global life insurance lies in its ability to provide financial security and peace of mind for individuals with international lifestyles or business interests. It ensures that beneficiaries will receive the death benefit regardless of the policyholder’s location at the time of death.