5 Crore Term Insurance for NRIs

Now, geographical boundaries are no longer a barrier for people looking to buy term plans in India. With Indian insurers offering plans specifically for NRIs, you can easily buy plans without travelling back to India with tele or video medicals and even exit the plan early with the special exit benefit. 

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Let us see the Indian 5 crore term insurance for NRIs that can help you secure your family in your absence.

What is a 5 Crore Term Insurance for NRI?

A 5 crore term insurance is a financial product that protects the future of the NRI’s family in the event of their unfortunate death during the policy term. These plans provide a death benefit of 5 crores to the family to help them take care of their financial goals and aspirations. Since these plans are specifically designed for NRI customers, these plans offer special features like affordable premiums, long policy terms, and GST waivers. But before we learn in detail the need and benefits of why you should buy term plans, let us see the best 5 crore term insurance for NRIs available in India.

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 5 Crore Term Insurance Plans for NRIs

5 Crore Term Plans for NRI Entry Age Maturity Age Policy Term
ICICI iProtect Smart 18 - 65 years 99 years 99 - age at entry
HDFC Life Click 2 Protect Super 18 - 65 years 85 years 85 - age at entry
Tata AIA Sampoorna Raksha Supreme 18 - 65 years 100 years 100 - age at entry
PNB Mera Term Plan Plus 18 - 60 years 99 years 99 - age at entry

Note: You can also use the term insurance for NRI premium calculator to get an estimate of the premiums you would need to pay on a regular basis.

Why Should I Buy 5 Crore Term Insurance for NRI?

  • Financial Security: 5 Crore term insurance for NRIs can secure the financial future of your family in the event of your unfortunate death during the policy term. 

  • Pay Off Debts and Loans: The 5 crore payout received from the term insurance for NRI can help the family members pay off any remaining loans like student or home loans, which might burden your family in your absence.

  • Child’s Education: The family of the policyholder can also use the large life cover amount to pay for the child’s school fees and higher education.

  • Maintain Lifestyle: The 5 crore life cover can help the family take care of their daily needs, pay for their monthly expenses, and maintain their current quality of life.

  • Business Protection: By appointing the company as the beneficiary, NRIs can ensure their company does not suffer in their absence, and the enterprise can use the cover amount to cover any potential losses.

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

What are the Benefits of 5 Crore Term Insurance for NRIs?

  • High Life Cover at Affordable Premiums: The 5 core term plans are available for NRIs at highly affordable premium rates, which are at least 50 to 60% lower than the international term plans.

  • Long Policy Tenure: With 5 crore term insurance for NRIs, you can secure your loved ones for a long policy term of up to 85 years which can be extended to cover you till 99 or 100 years of age.

  • Video and Tele Medicals: Now, you can buy term plans from your new country of residence without travelling all the way back to India by clearing your medicals online via tele or video calls.

  • Accidental Death and Terminal Illness Cover: Most of the term insurance for NRIs offer the option of including terminal illness and accidental death benefits in the base term plan.

  • Special Exit Benefit: The special exit benefit in term insurance allows NRIs to exit the policy within a certain stage as described by the insurer and receive all the premiums paid back at the end of the policy.

  • Bigger Pool of Insurers: In India, the IRDAI has enrolled a large number of insurers, from which the NRIs can compare the available term plans and select the plan from an insurer that fits their needs.

  • GST Waiver for NRIs: The NRIs can claim a GST waiver of 18% with the 5 crore term insurance plans and save more on their premiums by making premium payments using the Non-Residential External (NRE) bank accounts supporting the freely convertible currency.

  • Extra Discount on Annual Mode: NRIs can get an additional discount of 5% on their 5 crore term insurance for NRIs by choosing the premium payment mode as annual. This, in addition to the GST waiver, provides the NRIs with a total of 23% savings on the premiums paid.

  • Claim Settlement Ratio: The claim settlement ratio of a company is the percentage of claims settled to the number of claims received by them in a fiscal year. You should always check the CSR value of the company and make sure that the company’s CSR is not less than 95% to ensure your family’s claim is settled in their time of need.

  • Claim Settlement Process: The claim settlement process for NRI term insurance of 5 crores is much easier for the family living back in India. The grieving family can easily contact and visit the insurer's office to get their term insurance claims settled.

How to Buy 5 Crore Term Insurance for NRIs?

You can buy a 5 crore term plan for NRIs online by following the below steps:

  • Step 1: Go to Term Insurance for NRI page

  • Step 2: Fill in the name, age, mobile number, and gender of the policyholder

  • Step 3: Enter the suitable answer for the occupation type, annual income, educational background, and smoking habits

  • Step 4: Select the life cover option as 5 crores and go through the list of available plans

  • Step 5: Choose the most suitable plan and proceed to pay


  • How much term insurance is allowed?

    Ans: The amount of term cover needed will depend on your financial goals and individual situations. It is recommended that a term cover that is at least 10 to 12X of you yearly income. This amount should be sufficient to cover the future needs and manage the rates of inflation.
  • Is it good to pay term insurance in 5 years?

    Ans: Yes, it is good to pay term insurance in 5 years as then the with the pressure of having to pay the premiums for the rest of the policy term. After paying off the premiums in 5 years, the term plan is no longer a liability and secures the financial stability of your loved ones for the long term.
  • What is the age limit for buying a 5 crore term insurance for NRI?

    Ans: NRIs over the age of 18 and under the age of 65 are eligible to buy term plan for NRIs online for a life cover as per their human life value.
  • Do 5 crore term insurance for NRI offer any tax benefits?

    Ans: Yes, 5 crore term insurance for NRI offers tax benefits under sections 80C and 10(10D) as per the prevailing tax laws. Along with that, NRIs can also claim a GST waiver of 18% on the premiums paid using NRE bank accounts with free convertible currency.
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