How to Apply for National Overseas Scholarship and Secure Your Family with Term Insurance

When it comes to financial planning, securing your family’s future and exploring opportunities like the National Overseas Scholarship are two significant steps toward achieving your dreams. In this article, we’ll guide you on both fronts—how to apply for the National Overseas Scholarship and the importance of term insurance in protecting your loved ones.

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₹1 Crore Life cover starting from ⁺

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Term Insurers

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What is Term Insurance?

Term insurance is a type of life insurance that provides financial protection for your family in case of your untimely demise during the policy term. It ensures a lump sum payout, known as the death benefit, to your nominee, helping them manage expenses, debts, or future goals.

Benefits of Term Insurance

Here are the top term insurance benefits:

Affordable Premiums: Term insurance is cost-effective, providing high coverage at low premiums.
Tax Benefits: Enjoy term insurance tax benefits under Sections 80C, 80D (for health riders), and exemptions under Section 10(10D).
Financial Security: Ensures your family can handle home loans, education expenses, or any unforeseen emergencies.
Flexibility: Add riders for critical illness, accidental death, or disability for comprehensive coverage.

You can easily calculate term insurance premiums using term insurance calculator.

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How to Apply for Term Insurance?

Policybazaar is the online platform from where you can compare and buy term plans from 15+ top insurers.

Assess Your Needs: Calculate how much coverage you need based on your financial responsibilities.
Compare Plans Online: Use tools like a term insurance calculator to compare premiums and benefits.
Select the Right Insurer: Look for reliable companies offering competitive premiums and excellent claim settlement ratios.
Complete the Application: Provide personal and financial details, undergo a medical test (if required), and pay the premium.

Secure Your Family Future Today

₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

What is the National Overseas Scholarship?

The National Overseas Scholarship (NOS) is a government initiative designed to support students from specific categories, such as Scheduled Castes, Scheduled Tribes, and other backward classes, to pursue higher studies abroad. The scholarship covers tuition fees, living expenses, and other costs associated with studying at a foreign university.

How to Apply for the National Overseas Scholarship
- Check Eligibility:
  - Belong to the eligible category.
  - Have a minimum academic qualification (usually graduation).
  - Meet the age limit (often below 35 years).
- Prepare Documents:
  - Academic transcripts.
  - Proof of category (e.g., caste certificate).
  - Admission letter from a foreign university.
- Visit the Official Portal:
  - Log in to the designated government website.
  - Fill out the application form with accurate details.
- Submit Required Documents:
  - Upload the necessary certificates and supporting documents.
  - Ensure everything is verified and complete.
- Track Your Application:
  
  Regularly check the portal for updates.

Why Combine Term Insurance with Educational Aspirations?

Pursuing international education is a dream that often comes with significant costs. While scholarships like the NOS can ease the financial burden, term insurance adds an extra layer of security. Here’s how:

Protects Family’s Future: Ensures your family isn’t financially strained if something happens to you while pursuing higher education abroad.
Covers Loans: If you’ve taken an education loan, term insurance helps repay it in your absence.
Affordable Premiums for Young Policyholders: Starting term insurance early means lower premiums and higher benefits.

Final Thoughts

Both term insurance and the National Overseas Scholarship empower you to achieve financial security and educational dreams. While term insurance safeguards your family’s future, the NOS helps you pursue world-class education.

Whether you’re applying for term insurance or exploring how to apply for the National Overseas Scholarship, make informed decisions to secure a brighter tomorrow for yourself and your loved ones.

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month 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 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/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 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/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 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/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 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 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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