NRIs living in Germany can now easily secure their loved ones back home in India with term life insurance in Germany. These plans offer large life cover at budget-friendly premiums that provide cover for a long tenure. Let us take a look at what term insurance for NRI or risikolebensversicherung is and how buying from India can help you.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
Term life insurance in Germany for NRI provides financial protection to your loved ones in the event of your untimely demise. These plans are especially designed keeping NRI in mind and payout the death benefit on death during the policy term. Various Indian insurers offer tele/video medicals, premium break, and other such features, designed to make the NRI term life insurance buying process easier for Indian foreigners in Germany.
Term Plans
Yes, NRIs living in Germany, Person of Indian Origin (PIO), and Overseas Citizenship of India (OCI) cardholders can buy risikolebensversicherung or a term insurance in Germany for NRIs to protect their family/dependents. Even if the policyholder is not currently living in India, Non-Resident Indians (NRIs) are permitted by the Foreign Exchange Management Act (FEMA) to purchase insurance policies that meet their needs for protecting themselves and their family members.
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Term insurance in Germany for NRI works similarly to a protection plan and provides financial benefits to your family in the event of your unfortunate demise. These plans pay the death benefit to your loved ones, which can help them take care of their monthly expenses, outstanding loans, children’s fees, and other financial emergencies. To buy these plans, you may need to undergo a risikolebensversicherung test or term insurance medical tests to get your policy issued.
Here are the best term life insurance Germany from Indian insurers in 2025:
| Name of the Insurer | Term Insurance for NRI | Entry Age | Maturity Age | |
| ICICI Prudential Life Insurance | ICICI Pru iProtect Smart | 18 – 50 years | 85 years | |
| HDFC Life Insurance | HDFC Life Click 2 Protect Super | 18 – 50 years | 85 years | |
| Axis Max Life Insurance | Axis Max Life Smart Term Plan Plus | 18 – 50 years | 85 years | |
| Tata AIA Life Insurance | Tata AIA Sampoorna Raksha Promise | 18 – 50 years | 100 years | |
| Bajaj Allianz Life Insurance | Bajaj Allianz Life eTouch II | 18 – 45 years | 85 years |
*Disclaimer:Â ~Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
*Note: The information leading to these plan results are: 30 YO non-smoking male from Germany, a graduate with an annual salary of Rs. 40 Lakhs.
Here are some of the benefits of purchasing Term Life Insurance for NRIs:
Safeguard Your Family's Financial Future: Term Insurance for NRIs serves as a reliable safety net, guaranteeing lasting financial protection for their loved ones. The payout from these plans can help your family take care of their financial needs in your absence.
Payment Flexibility: Term Life Insurance for NRI in Germany offers significant risk coverage at an affordable premium, with the flexibility to make payments monthly, bi-yearly, quarterly, or annually. Buying early can lead to reduced premiums.
Pay off debts/loans: If you have any outstanding loans at the time of your untimely death, the term life insurance in Germany death benefit amount can settle them without causing financial burden to your loved ones.
Pre-Approved Coverage: Policybazaar NRI term insurance offers hassle-free pre-approved term insurance up to 5 Crores, eliminating the need for medical tests.
Global Coverage and Claim Assistance: Policybazaar NRI term insurance provides worldwide coverage and 24/7 claim assistance to the NRIs of Germany.
Medical Costs Covered: Many Indian insurers cover the medical risikolebensversicherung tests required for buying term insurance for NRIs, saving the Germany-based NRIs from expensive medical tests.
Limited Pay Benefit: NRIs can choose the limited premium payment option, which allows them to pay the risikolebensversicherung premiums in a shorter period, ensuring extended coverage.
Here is how you can benefit by buying NRI term insurance in Germany:
Affordable Premiums Rates: Term insurance for NRI plans from India offers much affordable premium rates in comparison to developed countries. Buying term insurance in India can result in a much lower premium, approximately 50-60% less than international plans, with the exact difference varying by country. To ensure the value, comparing and buying term plans in Germany from India is recommended.
Video or Tele-medical Check-up: NRIs can easily buy term insurance for NRI with tele/video medical check-ups from their country of residence. Initially, stringent rules and physical risikolebensversicherung test were necessary during the pandemic. However, with relaxed regulations, NRIs can secure substantial risk coverage through tele/video medical check-ups.
Claim Benefit: Term insurance in Germany for NRI will provide life cover to the policyholder, regardless of which country the NRI resides in. To intimate the death claims, the beneficiary/nominee of the NRI policyholder must submit all necessary documents as requested by the insurance company. However, tax implications and savings on NRI term insurance plans are determined by the income tax laws prevailing in the country where the NRI resides.
Bigger Pool of Companies: IRDAI enrolls several insurers that offer comprehensive protection plans for NRIs. You can compare Policybazaar NRI term insurance from India and select from a variety of companies to find the term life insurance in Germany that suits your requirements. The benefits offered by term plans for NRI are as follows:
Higher Sum Assured
Terminal Illness and Accidental Death Cover
Limited Pay Benefit
Longer Life Coverage
Quick Claim Settlement
 GST Waiver Available: You can avail of a GST waiver on term insurance for NRI of up to 18%. This means the NRI can easily save on their premiums if they make payments using NRE accounts supporting freely convertible currency.
 Additional Discounts: The term insurance for NRI policy in India provides an additional 5% discount on the premiums paid in annual modes. This discount, along with the GST waiver, provides you with a total of 23% discount on premiums.
Tax Benefits: You can get tax benefits with term insurance for NRI plans in India. These plans provide tax advantages as per the Income Tax Act, 1961, under sections 80C and 10(10D).
Plan Comparison: NRIs can easily compare term plans with the help of Policybazaar’s comparison engine and buy the Policybazaar NRI term insurance from among 15+ top insurers of the country. Moreover, with Policybazaar, the family of the NRI can also receive 100% claim assistance, which makes it an even better reason for NRIs to buy term plan from India.
Here are some additional benefits of purchasing Term Life Insurance for NRIs:
Accidental Death Benefits: NRIs have the option to include the Accidental Death Benefit rider in their Term Life Insurance policy. This rider offers supplementary coverage and provides extra protection in the event of accidental death.
Terminal Illness Benefits: Term Insurance for NRI plans covers terminal illnesses, providing a lump sum payout when a terminal illness is diagnosed.
Cover Against Critical Illness: Term Insurance for NRI plans includes extended coverage against specific critical illnesses for the entire policy term. This coverage helps manage significant medical expenses and treatment costs when a covered critical illness is diagnosed.
Waiver of Premiums on Disability: By choosing this rider, if an accidental total permanent disability leads to job loss during the policy term, the remaining premiums are waived. This feature allows policyholders to retain their coverage despite an accidental disability.
The required documents can be conveniently submitted online to the insurer to buy Term Insurance in India for NRI in Germany. These documents typically include:
Passport (front and back sides)
Valid Visa Copy
Last 6 months' bank statements
Last 3 months' salary slips
Employment ID Proof
Passport-size photo
Foreign Address Proof
Last entry-exit stamp
Submitting these documents online streamlines the application process for Term Insurance for NRIs, making it easier and more accessible for prospective policyholders.
Here is how NRIs can buy term life insurance in Germany from Indian insurers via Policybazaar:
Step 1: Visit the term insurance for NRI page of Policybazaar
Step 2: Fill in your name, contact information, country of residence, and other information
Step 3: Select the right smoking habits, educational qualifications, annual income, and occupation type
Step 4: Choose the best term insurance for NRI in Germany to buy, and proceed to pay
Selecting the ideal NRI Term Life Insurance is a key financial decision for expats, offering protection and long-term peace of mind. The convenience of tele-medical exams make the purchasing process very simple and hassle-free, providing death benefits for future savings. Before investing, carefully review policy terms and conditions to ensure a well-informed decision for your family's financial security.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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