Best Term Life Insurance Plans in Singapore

An NRI living in Singapore can easily buy the best term life insurance plan in India during their visit to India or while staying abroad. These protection plans secure the financial future of the policyholder’s family back in India in case of his/her absence. Most term insurance for NRI plans in India is available online and doesn’t require a physical medical check-up. Tele or video medical facilities are provided by Indian insurers to the NRIs in Singapore who want to buy protection for expats from India at affordable rates. 

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Best 5 Term Life Insurance Plans in India for NRIs in Singapore

Here is a list of the best term plans in India for NRIs that provide protection for expats at level term life insurance rates:

Term Life Insurance Plans NRIs in Singapore Entry Age Maturity Age Sum Assured
ICICI Pru iProtect Smart 18 - 65 years 99 years Min: 1 Crore
Max: 2 Crores
HDFC Click 2 Protect Super 18 - 65 years 85 years Min: 1 Crore
Max: 2.5 Crores
Max Life Smart Secure Plus 18 - 60 years 85 years Min: 1 Crore

Max: 10 Crores

Tata AIA Maha Raksha Supreme 18 - 60 years 85 years Min: 2.5 Crore
Max: 20 Crore
PNB MetLife Mera Term Plan Plus 18 - 50 years 80 years Min: 1 Crore
Max: 1.5 Crore

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

Why Should NRIs in Singapore Buy Best Term Insurance Plans In India?

  • Long term protection
    Protection plans provide long-term financial protection for the policyholder and their family members. You can choose a term coverage of up to 100 years or purchase a decreasing term insurance Singapore depending on your financial requirements.

  • Financial Protection
    Pure risk cover plans help NRIs in protecting the financial future of their family by providing them with the death benefit in case of the absence of a policyholder. You can purchase the cheapest term plan in Singapore from India or buy a decreasing term insurance in Singapore, whose premium rates are comparatively lower, and the sum assured decreases every year.

  • Affordable Premium rates
    The level term life insurance rates in India are lower than those abroad. Indian term insurance plans are 50% cheaper than international term life insurance plans. So, purchasing the cheapest term plan in Singapore from India is always a smart option for NRIs living in Singapore.
    Note: You can compute the term insurance plan premium rate with term insurance for NRI premium calculator.

  • Tele or Video Medical Examination
    NRIs in Singapore can easily buy the best term insurance for NRI in India that allows them to schedule a video or telemedical examination from their residential country. NRIs can also get large coverages with telemedical options, making protection for expats much more feasible for NRIs over the globe.

  • Terminal Illness Coverage
    Term Insurance for NRI in Singapore enhances your base pure risk cover and offers terminal illness coverage. It provides you with a lump sum payout if diagnosed with a terminal illness.

  • Accidental Death Cover
    NRIs also have the option to attach the Accidental death cover rider to their base life term insurance policy. This rider offers an additional life cover along with extra protection in case of accidental death.

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

How To Choose the Best Term Insurance Plans in Singapore from India?

  • Always check the online presence of the life term insurance policy offered by the insurer

  • Check the claim settlement ratio (CSR) as it is an important factor for choosing the best term life insurance for NRIs. It indicates the company’s quality and capability of settling the claims.

  • Ensure to check the solvency ratio of the insurers.

  • Check for a quick and hassle-free claim settlement procedure. The better the claim process, the more secure your family will be in your absence.

  • The company should offer different types of protection plans, like the cheapest term plan in Singapore and decreasing term insurance in Singapore, so customers can choose a term life insurance plan that fits their needs the best.

  • The company offering the best term life insurance plans should have processes to automate premium payments.

Documents Required to Buy Term Insurance For NRI in Singapore

Let us take a look at the documents required to buy protection plans for NRIs in Singapore from India:

  • Passport front and back side

  • Employment ID Proof

  • Last 3 Month salary slips

  • Photo

  • Foreign Address Proof

  • Valid Visa Copy

  • Last entry-exit stamp

  • Last 6 months’ bank statements

How To Buy Term Life Insurance for NRIs Living in Singapore From Policy Bazaar?

Here is how you can buy term plans for NRIs in India online from Policybazaar:

Step 1: Visit Term insurance for NRI

Step 2: Fill in the basic details such as date of birth, name, contact details, and country code. Click on ‘View Plans’

Step 3: Answer the questions about smoking or chewing habits, annual income, occupation, education, and language.

Step 4: Choose the protection plan that suits your financial needs and proceed to pay.

Things to Keep in Mind While Purchasing Term Life Insurance for NRIs in Singapore

Below is a list of certain things that NRIs should keep in mind when buying term plans from Indian insurers:

  • Your residential country plays a vital role in determining your eligibility for term life insurance for NRIs. Thus, you should also check with the insurance company whether they offer services in your country.

  • The policy term for term insurance plans for NRIs is almost the same as that for Indian citizens. Ensure with the insurance company for the maximum and minimum cap on the age limit for purchasing pure risk cover plans in India.

  • The level term life insurance rates depend on various factors like policy term, plan coverage, premium payment frequency, and rider availability (if any). You can buy the cheapest term plan in Singapore from an Indian insurer at affordable premium rates and get a long life cover.


  • Q: Can I get accidental death cover with term insurance for NRIs?

    Ans: Yes, you can get accidental death cover with the base term insurance for NRIs by adding the available rider to the base plan. You would be required to pay the additional premium for the rider along with the base premiums throughout the premium payment term.
  • Q: Is tax benefits applicable in term plans for NRIs?

    Ans: Yes, you can claim tax benefits as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act.
  • Q: Is it possible to buy 2 term life insurance for NRIs in India?

    Ans: Yes, you can buy 2 or more than 2 life term insurance policy depending on your human life value. This way, you can secure a large life cover for your loved ones in the unfortunate event of your death.
  • Q: Can I buy term life insurance policy in Singapore from India?

    Ans: You can buy term plans for NRIs in Singapore from India by visiting Policybazaar's website. You can buy the most suitable protection plan from the comfort of your home within a few minutes.
  • Q: Who can buy term insurance for NRIs in India?

    Ans: The following individuals can buy term plans for NRIs living in Singapore:
    • NRIs (non-resident Indians)
    • PIOs (Persons of Indian Origin)
    • OCIs (Overseas Citizenship of India) card holders

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