LIC Term Insurance For NRI

LIC Term insurance offers financial security and protection to the policyholder’s family in case of death. Every breadwinner wants to provide stability to his/her family in some way. In addition to Indian citizens, Non-Resident Indians (NRIs) can also opt for LIC term insurance for NRIs. Here is the detailed process of buying LIC Term Insurance Plans for NRI and policy features which are designed to benefit the policyholder and his/her family. 

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:-

About LIC Term Insurance Plans for NRI

LIC Term plan for NRI can secure your loved ones against any income loss that the family might face in the policyholder’s absence. The LIC Term insurance plans allow insurance seekers to buy a high coverage amount at very low premium rates. Like Indian residents, NRIs are also eligible to avail of LIC Term insurance for NRI in India. NRIs are living all around the world, and they make an important economic component. LIC Term insurance plans for NRI should be based on his/her specific needs. There are a number of ways in which an NRI can buy a term insurance plan. Here we have discussed the best LIC Term Insurance policy for NRI that can be chosen based on their requirements.

one crore term plan

Term Plans


Life Cover

@ Starting from ₹ 16/day+


Life Cover

@ Starting from ₹ 8/day+


Life Cover

@ Starting from ₹ 12/day+

How does LIC Term Plan For NRI (Non-Resident Indian) work?

Let’s first understand the meaning of NRI: An NRI (Non-resident Indian) is an Indian citizen who is temporarily living in his/her current residential country and possess a valid passport allotted by the Indian Government.

LIC Term insurance for NRIs works like a standard term plan for citizens of India. NRIs pay their premiums at regular intervals to enjoy life comfortably that comes with having a term cover. The plan provides life cover for a fixed time unless the NRI has availed of a whole life policy, in which the coverage continues, regardless of the policy term or individual’s age. In case of an unfortunate event with NRI during the policy term, their nominee gets the payout as per the guidelines mentioned in the policy documents.

There are number of points that should be noted while opting for LIC Term Insurance for NRI:

  • NRI should not be a green cardholder. He/she should not have applied or is planning to apply for a green card in the near future for obtaining citizenship of his/her current country of residence or any other country.

  • The PIOs i.e., People of Indian Origin who have foreign nationality and living in foreign countries such as FNIOs or green card holders are not considered NRIs for allowing insurance.

  • LIC Policies are only issued in Indian Rupees. LIC’s joint ventures companies and branches issue policies in sterling pound currency.

  • NRIs are permitted insurance on their visit to India where all the other document-related formalities are completed during their stay in the Indian country. In these cases, they would be treated at par with the Indian lives with the intent of allowing insurance.

  • NRIs may also provide life cover from their current residential country where all the formalities are completed in their present residential country which is called mail-order business.

  • The minimum sum assured for LIC Term Insurance for NRI is Rs. 10 Lakhs and the maximum amount would depend on insurability conditions. However, maximum SA would be limited to Rs. 3 Crore under mail order business.

  • Income proof in form of Income Tax returns (ITRs), and employment contract copy in which the emoluments are mentioned. Certificate from PFQ (Personal Financial Questionnaire), Chartered Accountant, etc. would be needed if the sum assured amount is high or if the proposal form is submitted through MOB.

  • All types of policies are allowed subject to the terms and conditions:

    • The benefit of term rider would be limited to a certain sum assured limit

    • Critical illness benefits is not approved 

    • SA would be limited in respect of term plans

Documents Required to Buy LIC Term Insurance For NRI

Here is the list of documents required to buy LIC term plan for NRIs in India:

  • Recommended proposal application form depending on the policy type selected

  • Valid Visa copy

  • Last entry and exit stamp

  • Last 6 months' bank statement

  • Last 3 months' salary slips

  • Attested passport copy

  • Age Proof

  • Income proof

  • Foreign address proof

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

Benefits of buying LIC Term Insurance Policy for NRI

  1. Long time protection

    LIC term plan for NRIs offers long term protection to the policyholder’s family, ensuring their financial stability in the absence of the policyholder. One can choose a life cover up to 100 years of age.

  2. Financial stability

    LIC Term plan for NRIs help protect the family’s future by offering financial stability even when the sole earner is not around.

  3. Peace of mind

    LIC term insurance for NRI provides extensive protection to loved ones, which helps in living comfortably without panicking about future requirements.

  4. Tax Savings Benefit

    NRIs are eligible for saving tax benefits on the premium amount paid u/s 80C. The maturity benefit received under the term insurance plan is also exempt from tax u/s 10(10D) of the ITA, 1961.

LIC Term Insurance Plans

Here is the list of LIC Term insurance plans for NRI online that one can buy to protect their families from financial difficulties:

  1. LIC Tech Term

    It is online pure risk premium policy that provides financial protection to the policyholder’s family in case of his/her unforeseen demise during the policy term. This LIC term plan for NRI will be available through online procedure only and can be bought anywhere, anytime at your convenience.

    Key Features of LIC Tech Term

    • Flexibility to choose from 2 benefit options which are increasing SA and level SA

    • This LIC term insurance for NRI offers special rates for women

    • Advantage of attractive rebates on high sum assured

    • Flexibility to choose from regular premium, single premium, and limited premium payment.

    • Policyholders have the option to opt for payment of benefits in form of installments

    • Option to increase the coverage by buying an Accidental benefit rider on payment of an additional premium amount for the rider.

    • The premium rates for non-smokers are lower than for smokers

  2. LIC Jeevan Amar

    LIC Jeevan Amar is a term plan that provides financial protection to the policyholder’s family in case of an unforeseen event during the policy tenure.

    Key features of LIC Jeevan Amar

    • Attractive premium prices for women

    • This LIC term plan for NRI provides increasing sum assured and level sum assured options to choose from

    • Option to choose the policy term and premium payment tenure as per the convenience

    • Option to pay benefits in form of installments

    • The coverage can be enhanced by opting accident benefit rider by making an additional payment

  3. LIC Saral Jeevan Bima

    It is a pure risk plan which offers financial protection to the assured’s family in case of his/her unfortunate demise during the plan is active.

    Key features of LIC Saral Jeevan Bima

    • Regular, limited, and single premium payment options are allowed under this plan

    • 30 days of grace period shall be allowed for yearly or half-yearly payment and 15 days for monthly premium amount from the date of 1st unpaid premium.

    • This LIC term plan for NRI covers death because of an accident only during the 45 days waiting period from the commencement of the risk date.


  • Q: How can I claim my LIC term insurance for NRI in India?

    Ans: You can claim your LIC term plan for NRI in India by giving a call to Policybazaar’s claim assistance team or dropping them an email. As per the company’s claim settlement process, the claim will be settled after successful verification.
  • Q: What are the tax benefits applicable to my LIC term plan for NRI?

    Ans: The LIC term insurance for NRI offers tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961 as per the prevailing tax laws.
  • Q: Is there any GST waiver offered under LIC term insurance for NRI?

    Ans: Yes, you can claim a GST waiver of 18% on the premiums paid towards keeping your LIC term plan for NRI active. Apart from that, you can also claim an additional 5% discount on the premiums paid by paying in an annual mode.
  • Q: How can NRIs pay their LIC term insurance for NRI premiums?

    Ans: NRIs can easily pay their LIC term plan for NRI premiums using the NRE (Non-residential External) bank accounts in freely convertible currency.
  • Q: Can I get a refund of the GST waiver amount after purchasing the LIC term plan for NRI?

    Ans: Yes, if you hadn’t claimed the GST waiver at the time of buying the LIC term insurance for NRI, you can claim a refund of the GST waiver by submitting the required documents.
  • Q: How can I calculate the premiums for my LIC Term insurance plan for NRI?

    Ans: You can calculate the premiums you would need to pay for your LIC term plan for NRI using the online LIC term plan calculator. This calculator provides the approximate premiums you would need to pay for the desired life cover.
  • Q: Can NRI invest in LIC Term plan for NRI?

    Ans: NRIs, except for Canada and USA residents, can invest in LIC term insurance for NRIs. They are required to fill out the FATCA (Foreign Account Tax Compliance Act) form and provide the tax identification number of their residential country.
  • Q: Can NRIs invest in LIC Jeevan Shanti?

    Ans: Yes, NRIs can invest in LIC Jeevan Shanti plan with the deferred and immediate annuity options.
  • Q: Is Indian life insurance applicable for NRIs?

    Ans: Yes, NRIs and PIOs who live abroad are allowed to buy life insurance plans in India. All PIO, irrespective of the status of their citizenship in India can take such a plan in their home land to secure themselves and their loved ones.

Different types of Plans

Premium By Age

Term Insurance NRI articles

  • Recent Article
  • Popular Articles
19 Feb 2024

Kotak 75 Lakh Term Insurance

Securing your family's financial future demands a lot of

Read more
15 Feb 2024

ICICI 75 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
15 Feb 2024

ICICI 70 Lakh Term Insurance

Securing your family's financial future demands thoughtful

Read more
15 Feb 2024

Kotak 70 Lakh Term Insurance

Ensuring the financial well-being of your family requires

Read more
15 Feb 2024

Kotak 1 Crore Term Insurance

In the realm of financial planning, ensuring the well-being of

Read more
07 Mar 2014

1 Crore Term Insurance - Buy ₹1 Cr Term Insurance Plan...

Term insurance is a type of insurance plan that offers financial security to your loved ones in the event of your

Read more
12 Jun 2018

Claim Settlement Ratio of Term Insurance Plan Providers

Claim Settlement Ratio (CSR) is an important parameter in the selection of an insurance policy. If you are going

Read more
27 Jun 2018

What Is Difference Between Term Insurance And Life Insurance

Life insurance plans help you create wealth, protect your family for the entire policy term, and save on your

Read more
24 Mar 2020

LIC Term Insurance 1 Crore

LIC of India offers various plans to help you secure the financial future of your loved ones. To ensure your

Read more
20 Aug 2014

Term Insurance for Women in India

Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and

Read more
Download the Policybazaar app
to manage all your insurance needs.