ICICI Pru 10 Crore Term Insurance for NRI

With flexible premium options, add-on benefits, and global coverage, ICICI Pru makes it convenient for NRIs to purchase and manage their term insurance from anywhere in the world.

Why ICICI Pru 10 Crore Term Insurance for NRIs is Necessary?

Here’s why choose a term insurance plan from India:

• Financial Security & Income Replacement: The ₹10 crore life cover acts as a powerful safety net, ensuring your family can manage all living expenses, future education, and other financial needs without any disruption to their quality of life.

• Special Exit Benefit: The special exit benefit allows you to exit the plan early and receive the premiums paid till the policy termination. The premiums returned are excluding of taxes or any other charges like admin and stamp duty charges.

• Debt Protection: The large payout can be used to clear significant liabilities such as home loans, personal loans, or business debts, preventing your family from inheriting a financial burden.

• Global Coverage: Your policy remains valid and provides comprehensive coverage, no matter where you are in the world. This ensures continuous protection even if you relocate to a new country for work.

• Tele/Video Medicals: The tele and video medical features offered by ICICI Prudential Life Insurance plans allows you to clear your medicals from the comfort of your homes.

What Makes Indian Term Plans Unique for NRIs?

• GST Waiver: NRIs can get a full 18% GST waiver on term insurance premiums by paying through an NRE (Non-Resident External) account using freely convertible currency.

• Additional Discounts: On paying premiums in annual mode, the NRI customers can claim 5% additional discounts that can help them further save on their premiums

• Seamless Claim Process for Dependents: Since your family or nominee is likely in India, the claim settlement process is smooth and easy for them to manage. They can directly visit the insurer’s office without the hassle of dealing with a foreign insurance company.

What are the Key Features of ICICI Pru 10 Crore Term Plans for NRI?

The following are some of the key features of the ICICI Pru 10 Crore term insurance plans:

• Flexible Plan Options:

  • Life Cover Only: A simple and affordable plan offering pure protection.

  • Life Cover with Return of Premium (ROP): If you outlive the policy term, you get back all the premiums paid.

  • Whole Life Option: Provides coverage up to 99 years or even for the entire life, ensuring lifelong protection for your family.

• Customisable Payouts: Choose how your family receives the claim amount: a single lump sum, monthly income for a fixed period, or a combination of both.

• Additional Riders: Enhance your base coverage with riders for an extra layer of protection, such as:

  • Accidental Death Benefit Rider

  • Critical Illness Rider

  • Waiver of Premium Rider (in case of disability)

Why Should You Buy ICICI Pru 10 Crore Term Insurance for NRI?

• Affordable Premiums: Indian term insurance plans are often up to 50-60% more affordable than comparable policies from international insurers. This allows you to get a high sum assured for a much lower cost.

• Long Term Coverage: NRIs can get covered under an ICICI Pru 10 Crore term insurance for NRIs for a long term, and ensure the financial coverage of your loved ones for a longer tenure.

• Easier Claim Settlement Process: If you buy term insurance for NRI from an Indian insurer, the claim settlement process for your family will be much easier, as they can easily visit the insurer office and initiate the claim process.

• High Claim Settlement Ratio: The ICICI Life Insurance Company has a high claim settlement ratio, which means they settle most of the claims received, and would thus be helpful for your family’s future claim, in case of any eventuality.

• Flexible premium terms: The ICICI Term plan for NRIs offers multiple payment options depending on your financial preference. You can choose to pay the premiums in single, limited, or regular premium pay terms with various premium pay frequencies.

What are the Eligibility Criteria for Buying ICICI Pru 10 Crore Term Insurance for NRIs?

The eligibility conditions for ICICI Pru 10 Crore Term Insurance for NRI are as follows.

What are the Benefits of ICICI Pru 10 Crore Term Insurance for NRI?

Here is how buying the 10 Crore term insurance from ICICI Prudential Life Insurance can benefit you:

Global Coverage

Your policy remains valid even if you move from one country to another. NRIs in the UAE, USA, UK, Canada, Singapore, and other countries can buy and maintain the policy.

Flexible Plan Options

Choose from:

• Life Cover Only: Pure protection with low premiums.

• Life Cover with Return of Premium (ROP): Refund of all premiums paid if you survive the policy term.

• Whole Life Option: Coverage up to 99 years for lifelong protection.

Additional Riders

Enhance your coverage with the following term insurance riders: 

• Accidental Death Benefit Rider

• Critical Illness Rider

• Waiver of Premium Rider

Tax Benefits

Premiums paid qualify for tax deductions under Section 80C, while payouts are exempt under Section 10(10D) of the Income Tax Act, 1961 (as per prevailing laws in India).

Digital Convenience

NRIs can complete the entire process online with e-KYC, medical tests (in select countries), and premium payments through international cards or NRE/NRO accounts.

What are the Documents Required for NRIs?

NRIs need to submit the following documents while applying:

• Valid passport copy

• Visa and residency details

• Recent passport-size photograph

• Overseas address proof

• Income proof (salary slips, tax returns, employment letter, etc.)

• NRE bank account details

How Can NRIs Buy ICICI Pru 10 Crore Term Insurance?

Step 1: Visit the term insurance for NRI page of Policybazaar

Step 2: Fill in the required details like name, and contact information

Step 3: Select the right annual income, occupation type, educational qualification, and smoking habits

Step 4: Choose the right ICICI 10 Crore term insurance for NRI and proceed to pay

Why NRIs Should Consider Buying from India?

• Lower premiums compared to policies abroad

• Trusted insurers with strong claim settlement ratios

• Indian tax benefits applicable on NRE accounts

• Ease of managing policies online from anywhere in the world

• Coverage in INR helps protect your family from currency fluctuations

Wrapping it Up!

An ICICI Pru 10 Crore Term Insurance plan offers NRIs robust financial protection with global coverage and multiple customisation options. It helps safeguard your family’s lifestyle, ensures debt repayment, and supports long-term goals even if you are not around. By purchasing the policy from India, NRIs can benefit from lower premiums, strong claim support, and seamless online processes.