Term insurance for NRI in USA is essential for Indians living abroad, as it can help remove the financial stress your family may face in your absence. The death benefit from a Policybazaar NRI term insurance can assist your loved ones in various ways, for example: by paying for children's education, paying off loans/debts, meeting day-to-day financial needs, and improving their quality of life.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
Term insurance for NRI in USA is a protection plan that is especially designed to provide NRI (Non-resident Indian), PIO (Persons of Indian Origin), and OCI (Overseas Citizen of India cardholder) customers in the USA. These plans offer customised benefits along with the base protection, which helps provide financial security to their loved ones.
Buying Policybazaar NRI term insurance from India allows you to compare plans from various insurers, receive lower premiums compared to international term plans, clear medicals via tele/video channels, and receive dedicated claim assistance for your family. With these plans, Indian expatriates can easily ensure the financial protection of their loved ones with a large life cover at affordable premiums.
Term Plans
Term Insurance for NRI in USA is a type of life insurance plan wherein the policyholder pays a premium to the insurance company in exchange for pure risk coverage, represented by the sum assured. Unfortunately, If the policyholder dies during the policy term, the sum assured is given to the designated beneficiary or nominee as a death benefit.
This term insurance for NRI payout can help your family members take care of their financial needs in the event of your untimely demise. They can use this amount to replace family income, pay off remaining loans, pay for the child’s fees, or take care of any other medical emergencies.
While there are many best life insurance providers in the USA, choosing the right term plan from the most suitable insurer is essential. Here is the list of some of the best term insurance for NRI in USA and expatriates from Indian insurers:
| 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: ~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
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Here are some of the advantages of purchasing Term Life Insurance for NRIs:
Financial Protection for Family: You can protect your family financially and provide them with a safety net for the long run with Policybazaar Term Insurance.
Affordable Premiums: The premiums for the NRI term insurance plans are much more affordable than international term insurance plans. The premiums can be upto 50% more budget-friendly in India, compared to other plans.
Flexible Premium Payment: With policy bazaar term insurance, premium payments can be made monthly, bi-yearly, quarterly, or annually, providing convenience and lower premiums for early buyers.
Video or Tele-medical Check-up: NRIs can easily buy term insurance via tele/video medical check-ups, eliminating the need for strict underwriting rules and physical tests.
Long-Term Coverage: Enjoy extended term life policy terms, with some plans offering coverage for up to 99/100 years, ensuring comprehensive and flexible protection for the policyholder and their family.
Global and Pre-approved Cover: Term insurance for NRI in UK from India provides continuous coverage no matter wherever you go. You can also get pre-approved cover up to 5 Crores with Policy bazaar term insurance for NRI in the UK.
GST Waiver and Additional Discount: With Policybazaar NRI term insurance plans, you can claim a GST waiver on term insurance premiums paid via an NRE (Non-residential External) bank account that supports freely convertible currency. Along with that, you can also receive a 5% additional discount on the annual premium payment modes.
Special Exit Benefits: The special exit benefits allows the customers to exit the plan early and receive all the premiums paid until termination back. The customer can only exit the plan within a certain period, decided by the insurer, and the payout amount will be excluded of GST and other additional charges.
Limited Pay Benefit: NRIs can opt for limited pay benefits, allowing them to make payments for a shorter period while maintaining life cover for the full policy term, resulting in cost savings.
Easier Claim Process: If your family lives in India, the claim settlement process for your family will be much easier in your absence. They can easily visit the insurance company to get their claims settled or get dedicated claim assistance with Policybazaar NRI term insurance plans.
Here are some additional benefits of purchasing Policybazaar Term Insurance for NRIs:
Accidental Death Benefit: Enhance coverage with an extra sum assured for accidental death.
Terminal Illness Cover: Receive a lump sum upon diagnosis of a terminal illness.
Critical Illness Protection: Safeguard against specified critical illnesses, easing the financial burden of medical expenses.
Premium Waiver on Disability: Maintain coverage without paying premiums in case of accidental total permanent disability.
To buy Policybazaar Term Insurance for NRI from the insurance company, the required documents can be conveniently submitted online. 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
This online document submission process simplifies and enhances accessibility for prospective Term Life Insurance policyholders.
Here is how Indian expatriates and NRIs can buy policybazaar NRI term insurance in the USA:
Step 1: Visit the Policybazaar term insurance for NRI page
Step 2: Fill in your name, DOB, gender, and other contact information
Step 3: Select the right annual income, occupation type, and educational qualifications
Step 4: Choose the most suitable Policybazaar NRI term insurance and proceed to pay
Choosing the right NRI Term Life Insurance is essential for expats and NRIs, offering financial security to family and peace of mind to self. With tele-medical exams, it's easier to acquire. Remember to carefully review the policy terms for your family's financial well-being.
˜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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