Term Life Insurance for NRI

Whether you live in India or another country, it's essential to make sure your family is financially secure in the unfortunate event of your death. Term Life Insurance for NRIs is crucial, especially when living in a different country while your dependents are in India. It helps deal with your family's problems when you're not around to help. If something unfortunate happens to you, the insurance money can really help your family in many ways, like taking care of their financial needs, supporting the education of your kids, in maintaining day-to-day expenses, etc.

Read more
Get ₹1 Cr. Life Cover at just
Term banner NRI
Video Medical Test+
Worldwide Coverage
Hassle Free Process

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

₹2 Crore life cover at
Online discount upto 10%# Guaranteed Claim Support
Video Medical Test+
Worldwide Coverage
Hassle Free Process
+91
View plans
Please wait. We Are Processing..
Get Updates on WhatsApp
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
We are rated~
rating
58.9 Million
Registered Consumer
51
Insurance Partners
26.4 Million
Policies Sold
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

What is Term Life Insurance for NRI?

Term Life Insurance for NRIs is designed to meet the special needs of OCI cardholders (Overseas Citizenship of India cardholders), Persons of Indian Origin (PIOs) and foreign nationals. These insurance plans offer financial protection and a death benefit to the policyholder's beneficiaries, regardless of their residency outside India. NRIs can also buy term plans from Indian insurance companies, ensuring that their loved ones receive important financial security, even if they are living abroad.

Term Life Insurance for NRI plans provide a variety of coverage options and policy terms, available through both online and traditional offline channels. The introduction of tele-medical checkups has made the online purchase process for term plans easy and accessible for NRIs residing anywhere in the world.

Note: Now that you know that what is Term Life Insurance for NRI, you should also get to know about what is term insurance to buy a term plan for your loved ones.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/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 Life Insurance for NRIs operates similarly to protection plans. In this type of insurance, the policyholder pays a premium to the insurance company in exchange for pure risk coverage, represented by the sum assured. In the unfortunate event of the policyholder's demise within the policy's term, the sum assured is disbursed to the designated beneficiary or nominee.

NRIs also have the flexibility to opt for the Term Life Insurance ROP (Return of Premium) alternative. With this choice, if the policyholder survives the policy term, the total of all the premium amounts paid is returned at the policy's maturity.

one crore term plan

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

What are the Best Term Life Insurance Plans for NRIs 2024?

Here is the list of best Term Life Insurance for NRI:

Best Term Insurance for NRI Entry Age Maturity Age Sum Assured
Max Life Smart Secure Plus 18 years to 60 years 85 years 1 Crore - 10 Crores
Tata AIA Sampoorna Raksha Supreme 18 years to 60 years 100 years 1 Crore - 20 Crores
Tata AIA SRS Vitality Protect 18 years to 60 years 85 years 1 Crore - 2 Crores
Tata AIA Maha Raksha Supreme 18 years to 60 years 85 years 2.5 Crores - 20 Crores
PNB Mera Term Plan Plus 18 years to 50 years 80 years 1 Crore - 1.5 Crores
HDFC Life Click 2 Protect Life 18 years to 65 years 85 years 1 Crore - 2.5 Crores
ICICI Pru iProtect Smart 18 years to 65 years 99 years 1 Crore - 2 Crores

What are the Benefits of Term Life Insurance for NRI Plans?

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

  • Safeguard Your Family's Financial Future: Term Life Insurance for NRIs acts as a dependable safety net, ensuring lasting financial security for their loved ones.

  • Payment Flexibility: Term Life Insurance for NRIs provides substantial risk coverage at a budget-friendly premium. Payments can be made monthly, bi-yearly, quarterly, or annually. Purchasing early results in lower premiums.

  • Video or Tele-medical Check-up: NRIs can easily purchase Term Life Insurance plans by scheduling telemedical check-ups from their country of residence. Initially, strict rules and physical tests were required during the pandemic, but with eased regulations, NRIs can get significant risk coverage through telemedical check-ups.

  • Extended Coverage: Term Life Insurance for NRIs offers risk coverage for long policy durations, with some plans extending up to 99/100 years. These plans offer thorough and adaptable coverage options to ensure financial security for the life assured and their family members.

  • Limited Pay Benefit: NRIs can also utilize limited pay benefits in Term Life Insurance plans. This involves making payments for a specified limited time while keeping 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 Life Insurance for NRIs:

  • Accidental Death Benefits: NRIs can choose to add the Accidental Death Benefit rider to their Term Life Insurance plan. This rider provides an extra sum assured and offers additional protection in case of accidental death.

  • Terminal Illness Benefits: Term Life Insurance for NRI plans covers terminal illnesses, providing a lump sum payout when a terminal illness is diagnosed.

  • Cover Against Critical Illness: Term Life 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: With this rider, if there is a job loss due to an accidental total permanent disability during the policy term, the remaining premiums are waived. This feature enables policyholders to maintain their coverage even in the event 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

  • Foreign Nationals: This refers to citizens of foreign countries who are living in India

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

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

  • Passport (front and back sides)

  • Valid Visa Copy

  • Passport-size photo

  • Foreign Address Proof

  • Last entry-exit stamp

  • Last 6 months' bank statements

  • Last 3 months' salary slips

  • Employment ID Proof

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

Wrapping It Up!

Choosing the right Term Life Insurance for NRIs is a crucial financial decision, providing vital protection for expats and long-term peace of mind. This insurance safeguards your loved ones by offering death benefits for future savings, and the convenience of tele-medical exams makes the purchasing process hassle-free. Before investing in NRI Term Life Insurance plans, it's important to thoroughly review the policy's terms and conditions. This ensures that you make a well-informed decision for the financial security of your family.


Term Insurance for Indian Citizens in UK FAQs

  • Q: Can Indian citizens buy term insurance in UK?

    Yes, Indian citizens can typically buy term insurance in the UK. For example, NRIs in the UK can easily buy term life insurance from Indian insurers using platforms like Policybazaar, to get the best deals, features and discounts.
  • Q: Is term life insurance valid outside India?

    Yes, term life insurance is generally valid outside India. Many insurance policies offer coverage internationally, providing protection to policyholders regardless of their location. However, it's crucial to carefully review the terms and conditions of the specific policy to ensure coverage meets expectations.
  • Q: Can OCI take term insurance in India?

    Yes, Overseas Citizens of India (OCI) can buy term insurance in India. Many insurance providers allow OCIs to purchase term life insurance in the country, providing them with coverage while residing abroad. However, it's important to check with specific insurance companies and review their policies to ensure eligibility and compliance with any specific requirements.
  • Q: Can NRI hold life insurance in India?

    Yes, Non-Resident Indians (NRIs) can hold life insurance in India. Many insurance companies in India offer life insurance policies specifically designed for NRIs. These policies allow NRIs to secure financial protection for their families in India and can cover them even when they are residing outside the country. However, it's essential to carefully review the terms and conditions of the insurance policy to ensure it meets the specific needs and requirements of NRIs.
  • Q: What happens to your life insurance policy if you move abroad from India?

    If you move abroad from India, your existing life insurance policy usually remains valid; ensure timely premium payments and update your insurer about the change of address.
  • Q: How to calculate the premium of term insurance?

    Ans: You can use the term insurance calculator to calculate the premium of term insurance.

Policybazaar is
Certified platinum Partner for
Insurer
Claim Settled
98.7%
99.4%
98.5%
99.23%
98.2%
99.3%
98.82%
96.9%
98.08%
99.37%
Premium By Age

Choose Term Insurance Plan as per you need

Plans starting from @ ₹473/Month*
Term Insurance
4 crore Term Insurance
Term Insurance
6 Crore Term Insurance
Term Insurance
7 Crore Term Insurance
Term Insurance
7.5 crore Term Insurance
Term Insurance
8 Crore Term Insurance
Term Insurance
9 crore Term Insurance
Term Insurance
15 Crore Term Insurance
Term Insurance
20 Crore Term Insurance
Term Insurance
25 Crore Term Insurance
Term Insurance
30 Crore Term Insurance
Term Insurance
15 Lakh Term Insurance
Term Insurance
60 Lakh Term Insurance

Term-en-uk Articles

  • Recent Article
  • Popular Articles
19 Jun 2024

Legal and General Critical Illness

Legal and General Critical Illness Cover provides financial

Read more
19 Jun 2024

Aviva Life Insurance

With over 320 years of experience in the insurance sector, Aviva

Read more
14 Jun 2024

Legal and General Over 50 Life Insurance

Legal & General Over 50 Life Insurance is designed for those

Read more
11 Jun 2024

Legal and General Life Insurance

Legal and General Life Insurance is a leading UK insurance

Read more
05 Jun 2024

Zurich Income Protection

Zurich Life Insurance is one of the leading insurers in the UK

Read more

Zurich Life Insurance For NRIs in the UK

Zurich Life Insurance in the UK is an insurance company offering plans for UK residents and NRIs (Non-resident

Read more
Need Help? Request Callback
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL