ALL >> Insurance >> View Article
How Nris Buy Term Insurance In India?

Life is unpredictable, and people must plan for it by ensuring their loved ones' financial futures. Term insurance policies provide a solution for protecting money reserves and ensuring a stress-free life ahead. This protection is also provided to non-resident Indians (NRIs)
NRIs can purchase term insurance in India using two techniques. First, they can obtain the coverage during a visit to India, using the same procedure as Indian nationals. Alternatively, NRIs can purchase coverage from their present location by mail order, which requires verification by Indian Embassy authorities and a notary.
Term insurance plans for NRIs provide flexible terms and conditions, with sums guaranteed ranging from Rs 2 lakhs to Rs 1 crore.
Premiums vary according on the insurance length, payment frequency, age, and health status. The policy terms range from 6 months to 25 years, with eligibility requirements commonly ranging from 18 to 60 years.
Term Insurance can be purchased while in India or from the country of residency. In India, the process is simple, ...
... but outside, NRIs must use a mail-order business approach that requires verification by notary and Indian embassy personnel.
NRIs can choose a policy tenure ranging from 6 months to 25 years, with certain insurers offering whole-life insurance. The qualifying age ranges from 18 to 55 or 65, depending on the insurer. Coverage amounts can be adjusted, and payments are sent via online banking or international remittance.
NRIs seeking for term insurance must present documentation such as a copy of their passport, evidence of age and income, and medical history. Premium payments are accepted by online banking, overseas remittance, and NRO, NRE, or FCNR accounts.
NRI term insurance works in the same way as plans for Indian nationals, giving coverage for a set time period. If the policyholder dies during the term, the nominee receives the payment. Individuals eligible for NRI term insurance include NRIs, Overseas Citizens of India (OCI), Persons of Indian Origin (PIO), and foreign citizens.
Purchasing NRI term life insurance in India is advantageous owing to customisation choices, tax benefits, and financial protection for the policyholder's family in the event of their death.
NRI Life insurance policies include regular term plans, child plans, ULIPs, and retirement plans.
When acquiring NRI term insurance, evaluate the policy coverage, tenure, and needed paperwork. Premiums can be paid in Indian rupees or international currency through a variety of means.
To summarize, with the availability of online processes and digital capabilities, obtaining NRI term insurance in India has become a practical and cost-effective choice for ensuring the financial well-being of family members.
Hi! I am Jane Jones, a Technical writer, writing just to make technical concepts simpler and easier to understand for a layman. Most of my blogs here are on niches in Finance and Investment. Having experience in and out has been for around 3 years. Happy Reading!
Add Comment
Insurance Articles
1. Wood Vs. Metal Piccolo Instrument: Which Is Right For You?Author: musicinstrumentsins
2. Navigating Pdpm Updates: How Snfs Can Optimize Reimbursement
Author: 247 medical billing
3. Understanding The Coverage Options In Viola Insurance
Author: micheljordan4
4. Switching Health Insurance Plans: Your Complete Guide
Author: FinanceadvisorsUK
5. The Benefits Of Having Oboe Insurance For Students And Professionals
Author: musicinstrumentsins
6. How Recording Studios In New York City Mix Vintage Gear With Modern Tech
Author: victor12johnson
7. A Quick Guide To Saxophone Insurance For Musicians
Author: micheljordan4
8. Cpt Code 97530: Maximizing Reimbursement For Functional Activity Training In Rehab
Author: 247 medical billing
9. Is Private Health Insurance Worth It In The Uk?
Author: Financeadvisors
10. Icd-10 Codes For Skin Tag Removal: Complete Billing Guide For 2025
Author: 247 medical billing
11. Insurance For Appraisers - Essential Coverages Every Professional Needs
Author: victor12johnson
12. Cpt 99214 Vs 99213: Key Differences In Office Visit Coding For 2025
Author: 247 medical billing
13. Basic Care Tips To Keep Your Violin In Shape
Author: micheljordan4
14. Why Every Clarinet Player Should Have A Good Case?
Author: musicinstrumentsins
15. Private Healthcare Insurance: A Guide To Choosing The Best Plan
Author: Financeadvisors