Can NRI buy Life Insurance in India?

Any Indian citizen’s main priority would be to secure their family’s financial future in case of their unexpected absence. Whether you live in India or foreign, protecting the future of your family in case of your absence with a life insurance plan is important. An insurance for expats can not only give financial protection to your family in case of your unexpected death but also help grow a corpus in the long run. If you are an NRI and searching for affordable life insurance plans, you have various questions sitting in a different country about buying these plans. 

Read more
Get ₹1 Cr. Life Cover at just
Term banner NRI
No 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
No Medical Test+
Worldwide Coverage
Hassle Free Process
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~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
~Source - Google Review Rating available on:-

Can NRIs Buy Life Insurance in India? 

Yes, NRIs who live in a foreign country are allowed to buy life insurance plan in India. All individuals of Indian origin, irrespective of their citizenship status in India, can buy whole life insurance, protection plans, or cash value life insurance plans in India to secure themselves and their loved ones.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

Best Life Insurance Policy in India For NRI 2024

Let us see the best protection plans for NRIs in India that you can buy as insurance for expats living overseas:

Protection plans for NRIs Entry Age Maturity Age (Maximum)
ICICI Prudential iProtect Smart 18 - 65 years 99 years
HDFC Life Click 2 Protect Life 18 - 65 years 75 years
Max Life Smart Secure Plus 18 - 60 years 85 years
TATA AIA Maha Raksha Supreme 18 - 60 years 85 years
Bajaj Allianz eTouch 18 - 55 years 99 years
Bajaj Allianz Life Smart Protect Goal 18 - 65 years 99 years
PNB MetLife Mera Term Plan Plus 18 - 50 years 80 years
Canara HSBC iSelect Smart360 18 - 60 years 99 years
Kotak Life e-Term Plan 18 - 65 years 85 years

Why Do NRI Need Life Insurance Plans?

Indian expats living abroad should buy NRI life insurance because of the following reasons:

  • Easy Process: The process of buying an NRI life insurance plan in India is way easier than that buying international life insurance. The CSR values released by IRDAI also help you make a decision about the insurance company from which you should purchase your life insurance policy.

  • Higher Life Cover: The NRI life insurance plans offer a life cover that would be payable to your family in case of your unexpected death. The life insurance plans in India are designed specifically for Indian expats with their needs in mind. Thus you can choose a cash value life insurance or a universal life insurance with a sum assured high enough to cover your family’s future expenses and help them live a comfortable life.

  • Secure Future: Life insurance for NRI can secure your family’s financial future by providing them with death benefits in the event of your death. This payout can be used by your family to pay for any unexpected emergencies and the child’s education fees.

  • Lifelong Goals: With the survival and maturity benefits of universal life insurance or cash value life insurance plans, you can grow your wealth over time. This amount can be used by you or your family to fulfil your lifelong goals, like buying a house or going on an expensive vacation. Your child can also use this corpus to fund their dreams, like investing in a business or paying for their wedding.

  • Financial Obligation: The payout received from the NRI life insurance plan can help your family pay for any pending loans or debts like home loans or car loans. This can help them lead a stress-free life while maintaining their current quality of life. 

  • Easy Claim Settlement: The claim settlement process of an NRI life insurance plan is way easier than any other international life insurance plan as your family won't have to travel to the locations of the insurer just to get their claims settled. If the insurance company is located in India it would be easier for the family to get their claims settled. 

one crore term plan

Secure Your Family Future Today


Term Plan Starting @ ₹449/month+

Get an online discount of upto 10%+

Compare 40+ plans from 15 Insurers

+Standard T&C Applied

Why Should You Buy Life Insurance for Expats From India?  

There are various protection plans and whole life insurance plans available, but as an Indian citizen, you should buy life insurance for NRI in India because of the following reasons.

  • Lower Premium Rates: Indian insurers offer premium rates that are almost 50% lower than the international life insurance for expats offers. This is especially beneficial for people who are looking to gain a large life cover at substantially lower premiums.

  • Claim Settlement Ratio: The claim settlement ratio of a company lets us know the reliability of a company in settling claims of an insurance company. The Indian insurance regulatory body IRDAI releases this ratio every year for all the companies registered under it. Suppose an insurance company has received a total of 100 claims and they settled 97 of them, then the CSR of the company would be 97%. A CSR of over 95% is considered good as they have a better chance of settling your family’s potential claim than a company with a lower CSR. The insurance companies Max Life and ICICI Prudential have a CSR of 99.34% and 97.82%, respectively.

  • Zero Cost Option: The zero cost term plan is available in pure risk cover plans or protection plans allows you to exit the plan at a specific point as decided by the insurer and receive all the premiums you paid towards the policy back at the end of the policy.

  • Bigger Pool of Insurers: The larger number of insurance companies allows you to choose an insurance for expats from an insurer that suits your requirements the best. You can compare protection plans and their premium rates from different insurers and purchase the one most suitable for you.

  • GST Waiver: The Government of India offers a special waiver on premiums called the GST Waiver which can be availed when paying premiums from an external bank that supports convertible currencies.

  • Tele/Video Medical: During Covid due to the stricter restrictions every individual looking to purchase a life insurance policy for NRI in India had to travel all the way back to India just to get their medical exam cleared in person. But as the pandemic is subsiding the restrictions have been loosened and now you can purchase NRI life insurance from anywhere in the world and get your medical exam cleared via tele or video medical channels.

Does the NRI Need to be in India while buying the LifeInsurance Plan? 

It is not important to be physically available in India while purchasing a life insurance plan for NRI. It is advised to buy term plan or whole life insurance plans after comparing all the options which are available. At the onset of the pandemic, the underwriting rules and regulations were quite tightened, and customers were required to undergo physical medical tests, the life cover amounts were capped. Now, with relaxed rules, NRIs can get large cover and protection for expats with tele or video medical examinations instead of physical tests, where they can easily schedule an online check-up. 

Who Can Buy Life Insurance for NRIs From India?

The following people can buy cash value life insurance, universal life insurance, or protection plans in India:

  • NRIs (Non-Resident Indians)

    People who were born in India and hold Indian Passport who are currently living in a different country.

  • PIOs (Persons of Indian Origin)/OCIs (Overseas Citizens of India)

    People who have held an Indian passport previously, have an Indian citizen spouse, or have Indian citizen grandparents who are overseas citizenship of India card holders. The above mentioned people can buy life insurance for expats in India in 2024 as per their eligibility.

How To Buy NRI Life Insurance In India?

Indian Citizens living abroad can buy insurance for expats or life insurance for NRI in India by following the below-mentioned steps:

  • Step 1: Visit the company’s Term Insurance for NRI in India page

  • Step 2: Fill in the basic personal information like name, phone number, gender, date of birth and more

  • Step 3: Select the correct information about your smoking and chewing tobacco habits along with the occupation type, annual income, and educational background

  • Step 4: Select the most suitable cash value life insurance or protection plan and proceed to pay

Documents Required To Buy NRI Life Insurance Plans in India

Here is a list of the documents required by Indian expats to buy the best life insurance policy in India:

  • Address proof of the foreign location

  • Valid visa’s copy

  • Passport’s front and back side

  • Employment ID proof

  • Previous entry-exit stamp

  • Photo

  • Last 6 months’ bank statement

  • Last 3 months’ salary slip


  • Can NRIs buy life insurance in India?

    Ans: Yes, NRIs can buy life insurance in India even from the country of their new residence through tele or video medical checkups, and complete all the formalities of buying a life insurance plan online. Apart from NRIs, PIOs (People of Indian Origin) and OCIs (Overseas Citizenship of India card holders) can also buy term insurance plans in India.
  • Why should NRIs buy life insurance plans in India?

    Ans: NRIs should buy life insurance plans in India because of the following reasons:
    • Affordable premium rates
    • Claim Settlement Ratio
    • Zero Cost option
    • Bigger pool of insurers
    • Tele and video medical
    • GST waiver
  • Is life insurance tax-free in India?

    Ans: Yes, life insurance plans offer tax benefits to policyholders in India. You can claim tax deductions under section 80C. 80D, and 10(10D) of the Incmoe Tax Act.
  • What happens to my life insurance if I move abroad?

    Ans: In case you move abroad during the policy term, your life cover will remain unaffected and continue as per usual. However, it is better to check the policy documents and your insurance company as it may differ with insurers.
  • Can a person have 2 life insurance policies in India?

    Ans: Yes, you can have as many life insurance policies in India as you want.
  • Can I get accidental death cover with my life insurance for expats?

    Ans. Yes, some insurers offer the option of adding accidental death cover rider in the base life insurance or protection plans for NRIs. With the accidental death cover, your family will receive an additional rider sum assured in case of your accidental death during policy term.

Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
24 Apr 2024

Most Common Life Insurance Frauds in India

Life insurance fraud is a financial crime that can be committed

Read more
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To Secure Their...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High Returns

The best life insurance policy in India is a type of life

Read more
15 Dec 2021

Life Insurance for Parents in India

With the increase in the average life expectancy rate, the older population in India is on the rise. Most of the

Read more
08 Jun 2022

Life Insurance for NRI

Going beyond geographical boundaries to study or pursue a career abroad is a common aspiration for many

Read more
14 Apr 2014

Life Insurance Quotes

Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you

Read more
26 Dec 2022

Canara Guaranteed Fortune Plan

Canara HSBC life insurance company introduces a guaranteed fortune plan that provides assured benefits to life

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best decision I have ever made. I feel so good knowing that

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