LIC Plans for NRIs in the USA are one of the best ways to secure the financial future of your loved ones living in India. The insurance plans offered by the Life Insurance Corporation of India cater to the insurance needs of every individual at very affordable rates.Read more
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Guaranteed maturity with life
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Tax saving under Sec 80C &
Sovereign guarantee as per
Sec 37 of LIC Act
LIC Plans for NRIs living in the United States of America (USA) are the life insurance plans offered to those Indians who are currently living/working/studying in the USA. These plans not only provide financial security but also offer peace of mind to the Non-Residential Indians knowing that their family's financial needs will be taken care of in their absence.
Below mentioned are some of the best LIC plans that are designed for NRIs in the USA
|Plan Name||Entry Age||Maximum Maturity Age||Sum Assured (in Rs.)|
|LIC SIIP||90 days-65 years||85 years||7 times annualized premium*|
|LIC Jeevan Umang||90 days-55 years||100 years- Age at entry||2 Lakhs to No Limit|
|LIC Jeevan Lakshya||18-50 years||65 years||1 Lakh to No Limit|
|LIC New Jeevan Anand||18-50 years||75 years||1 Lakh to No Limit|
|LIC Jeevan Labh||8 years- 59 years||75 years||2 Lakhs to No Limit|
LIC is one of the oldest life insurance companies in India. The company started its operations in 1956 and is still one of the preferred insurance companies among Indians. By buying LIC
plans for your family, you can ensure your family’s financial stability.
LIC plans for NRIs offer death benefits to the nominee in case of the policyholder’s death during the policy tenure. The amount received as the Death benefit can help the family members of the policyholder to cope with the income loss.
In case the policyholder survives till the end of the policy tenure, the LIC Plans for the NRIs offer maturity benefits to the policyholder. The policyholder can use the amount to achieve his/her future goals.
LIC Plans come with comparatively affordable prices compared to other international life insurance. For example, to buy LIC New Jeevan Anand with Rs. 1 Crore coverage, you need to pay just Rs. 2,306* per day in India.
The LIC would exclude NRI residents of the USA from GST if they pay the premiums out of their NRE accounts. The GST is assessed at a rate of 4.5% for the initial premium and thereafter at 2.25% for subsequent premiums.
LIC policy for NRIs is an ideal plan for:
Being the sole earner of the family, your family will suffer a lot if something unfortunate happens to you while working in the USA. Thus, to ensure your family’s security, it is important to have a LIC Plan for NRIs.
Students Loan, Home Loans, or any other personal loans may cause financial hardship amongst your family members after your death. Thus, to avoid such situations you can buy LIC plans for NRI and ensure that your loved ones can take care of the outstanding loans with the insurance amount.
The LIC Plans for NRI offers maturity benefits in case the policyholder outlives the policy term. Thus, with this feature, you can save your money by investing in any of the LIC plans and can create a corpus for your financial needs.
Geographical boundaries are no longer the barrier for NRIs living in the USA. An NRI can easily opt for LIC Plans and can secure the financial future of their family. These affordable plans offered by the LIC are the best way to secure your and your family’s future.
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