Term Life Insurance for NRI

Term insurance for NRI in Saudi Arabia has become an essential part of financial planning for Indian expatriates who want to protect their families back home. With many NRIs working in the Kingdom on long-term assignments, securing a dependable life cover ensures their loved ones remain financially stable in case of an unforeseen event. Indian term plans are especially attractive because they offer high coverage, transparent terms, and competitive premiums, all accessible through a fully digital process. Whether you support family members in India or plan to return someday, an India-issued term plan helps you stay protected across borders with confidence.

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What is Term Life Insurance for NRI?

Term Life Insurance for NRIs (Non-Resident Indians) is customized to cater to the unique requirements of NRIs, OCI cardholders, PIOs, and their families. These insurance policies provide financial security and a death benefit to the policyholder's beneficiaries, irrespective of their overseas residency. NRIs can acquire these term plans from Indian insurance providers, guaranteeing their loved ones receive essential financial protection, even while residing abroad.

NRI Term Life Insurance plans offer a diverse selection of coverage options and policy terms that can be conveniently obtained either online or through traditional offline channels. With the introduction of tele-medical checkups, the online purchase process for term plans has become hassle-free, accessible to NRIs living in any corner of the world.

Note: Check all the best term insurance plan in India.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How Do Term Life Insurance For NRI Plans Work?

Term insurance for NRIs living in Saudi Arabia works just like a regular term plan in India, but with processes tailored to make it convenient for expatriates. You can choose an Indian insurer, compare plans online, and complete the entire application digitally without travelling back to India. Most insurers allow KYC and documentation through online verification, and medicals may be done via video medical check-ups or at approved medical centres in Saudi Arabia.

Once your policy is issued, you continue paying premiums from your NRE account, Indian bank account, or international debit/credit card, whichever is more convenient. If an unfortunate event occurs during the policy term, your family in India receives the full sum assured, helping them manage living costs, liabilities, and long-term financial goals without disruption. For NRIs in Saudi Arabia, this makes term insurance a straightforward and reliable way to secure their family’s financial future back home.

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

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What are the Term Insurance for NRIs 2025?

Here is the list of Term Insurance for NRI 2025:

Term Insurance Companies	Term Insurance for NRI	Types of Term Insurance
Axis Max Life Insurance	Axis Max Smart Term Plan Plus	Pure-risk
Tata AIA Life Insurance	Tata AIA Sampoorna Raksha Promise	Pure-risk
HDFC Life Insurance	HDFC Click 2 Protect Supreme	Pure-risk
ICICI Pru Life Insurance	ICICI Pru iProtect Smart Plus	Pure-risk
Bajaj Life Insurance	Bajaj Life eTouch II	Pure-risk
HDFC Life Insurance	HDFC Life Sanchay Legacy	Legacy

What are the Benefits of Term Insurance for NRI Plans?

Here are some of the advantages of purchasing Term Insurance for NRIs:

Secure Your Family's Financial Future: Term Life Insurance provides a reliable safety net, ensuring long-term financial protection for your loved ones.
Flexible Premium Payment Modes: Term Insurance for NRIs provides high pure risk coverage at a low premium rate. Premium payments can be made monthly, bi-yearly, quarterly, or annually. Buying a term plan earlier results in lower premiums.
Video or Tele-medical Check-up: NRIs can conveniently buy Term Life Insurance for NRI plans by scheduling telemedical check-ups from their country of residence. Initially, stricter underwriting rules and physical medical tests were required during the pandemic. However, with relaxed regulations, NRIs can obtain substantial pure-risk coverage through telemedical check-ups.
Long-Term Coverage: Term Insurance for NRIs offers pure risk coverage for extended policy tenures, with some plans providing coverage for as long as 99/100 years. These protection plans offer comprehensive and flexible coverage options to ensure the financial security of the life assured and their family members.
Limited Pay Benefit: NRIs can also use limited pay benefits in Term Life Insurance plans. This option involves making recurring payments for a specified limited time period while maintaining the life cover for the entire policy term. This allows policyholders to pay premiums for a shorter duration and save money accordingly.

Additional Benefits of Term Life Insurance for NRIs

Here are some additional benefits of purchasing Term Insurance for NRIs:

Accidental Death Benefits: NRIs have the option to include the Accidental Death Benefit rider in their Term Life Insurance plan. This rider offers an additional sum assured and provides supplementary protection in the event of accidental death.
Terminal Illness Benefits: Term Insurance for NRI plans provides coverage against terminal illnesses, offering lump sum payouts upon diagnosis of a terminal illness.
Cover Against Critical Illness: Term Life Insurance for NRI plans offers expanded coverage against specific critical illnesses throughout the policy term. This coverage can help cover substantial medical bills and treatment costs upon the diagnosis of a critical illness included in the plan.
Waiver of Premiums on Disability: With this rider, the remaining premiums are waived in the event of job loss due to an accidental total permanent disability during the policy term. This provision allows policyholders to maintain their coverage even in the case of accidental disability.

Who is Eligible to Buy Term Life Insurance for NRI?

Here's a list of eligible individuals who can purchase term life insurance for expats, including protection for NRIs:

Non-Resident Indians (NRIs): These are Indian citizens holding valid Indian passports who are residing temporarily in a foreign country.
Overseas Citizen of India (OCI)/Person of Indian Origin (PIO): This category includes citizens of foreign countries, except for Bangladesh or Pakistan, who meet one of the following criteria:

Previously held an Indian passport
Have parents or grandparents who were Indian citizens
Are spouses of Indian citizens

What Are the Documents Required for Term Life Insurance Plans for NRI?

The required documents can be conveniently submitted online to purchase Term Insurance for NRI plans from the insurance company. These documents typically include:

Passport (front and back sides)
Employment ID Proof
Valid Visa Copy
Last entry-exit stamp
Last 6 months' bank statements
Last 3 months' salary slips
Passport-size photo
Foreign Address Proof

Submitting these documents online streamlines the application process for Term Life Insurance for NRIs, making it easier and more accessible for prospective policyholders.

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What is Term Life Insurance

Wrapping It Up!

Buying Term Insurance for NRIs is a vital financial product, offering essential financial protection for expats and long-term peace of mind. It safeguards your loved ones by providing death benefits for future savings, with the convenience of tele-medical exams for a hassle-free purchase. It's crucial to carefully review the policy's terms and conditions before investing in NRI Term Life Insurance plans, ensuring a well-informed decision for your family's financial security.

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Life Insurance in Saudi Arabia FAQs

Q: What is the difference between whole life and term life insurance?

Whole life insurance provides lifelong coverage with a cash value component, while term life insurance offers coverage for a specified term without cash value, making it more affordable.
Q: Can I borrow against the life insurance policy if I am a resident of Saudi Arabia?

Yes, you can typically borrow against a life insurance policy in Saudi Arabia, depending on the terms of your specific policy and the insurance company's policies.
Q: Is life insurance in Saudi Arabia subject to zakat (Islamic wealth tax)?

Yes, life insurance in Saudi Arabia is subject to zakat (Islamic wealth tax) based on the value of the policy's cash surrender value and accumulated returns, if applicable.
Q: I live in Saudi Arabia, do I need to go for a medical for a universal life insurance and term life insurance policy?

Yes, in Saudi Arabia, medical examinations are typically required for both universal life insurance and term life insurance policies, as they help determine the applicant's health and insurability.
Q: Can HNIs (high net-worth individuals) in Saudi Arabia buy universal life insurance from Capital for Life?

Yes, high-net-worth individuals in Saudi Arabia can typically purchase universal life insurance from providers like "Capital for Life," subject to the company's specific eligibility and underwriting criteria.
Q: What are the term life insurance companies in Saudi Arabia for NRIs?
Here are the term life insurance companies in Saudi Arabia for NRIs:
- Tawuniya Cooperative Insurance Company
- Bupa Arabia for Cooperative Insurance
- Medgulf Cooperative Insurance Company
- Saudi United Cooperative Insurance (Walaa)
- ACIG Arabian Shield Cooperative Insurance Company
- Saudi Arabian Cooperative Insurance (SAICO)
- Aljazira Takaful Taawuni Company
- Malath Cooperative Insurance & Reinsurance
- SABB Takaful Company
- Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)

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Life Insurance Corporation of India

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1 Crore Term Insurance

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2 Crore Term Insurance

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month 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 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/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 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/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 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/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 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 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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