Best Term Life Insurance for NRI

An NRI can buy a best-term insurance plan to secure his/her family’s future financial goals and protects them in his/her absence. Most term insurance for NRI plans in India are available online, do not require a physical medical examination, and are more affordable than abroad. Let’s discuss best term insurance plan in India for NRI. 

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Best 7 Term Insurance Plan in India for NRI

Here are the best term insurance plans in India for NRI:

Term Insurance Plans for NRI Entry Age Maturity Age
ICICI Pru iProtect Smart 18 years to 65 years 75 years
HDFC Life Click 2 Protect Super 18 years to 65 years Whole of life
Max Life Smart Secure Plus 18 years to 65 years 85 years
Tata AIA Sampoorna Raksha Supreme 18 years to 65 years 100 years
Bajaj e-Touch 18 years to 65 years 99 years
PNB Mera Term Plan Plus 18 years to 60 years 99 years
Canara HSBC iSelect 360 18 years to 65 years 99 years

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Why Should NRIs Buy Best Term Insurance for NRI in India?

The following are the benefits of buying thebest term insurancein India for NRI:

  1. Long time Security

    Term insurance plans provide long time protection for the life assured and their family. One can choose a life coverage up to 100 years of age

  2. Financial constancy

    Term insurance plans help NRIs in safeguarding the family’s financial future by providing them with financial stability, in case of the policyholder’s absence.

  3. Mind Peace

    Term insurance plans provide comprehensive security to loved ones which helps in living financially happy without worrying about the future.

  4. Affordable premium rates

    The premium rates of term insurance plans in India are lower than those of foreign insurers. Indian term plans are 50% cheaper than international plans. So, buying plans from India is always a good option for NRIs.

    Note: You can calculate the term plan premium rates with the term insurance calculator

  5. Tax Benefit

    NRIs are entitled to the savings tax benefit on premium paid u/s 80C and on maturity benefit u/s 10(10D) of the Income Tax Act, 1961.

  6. Tele/Video Medical examination

    NRIs can easily buy term plans in India that help them to arrange a video or telemedical examination from his/her residential country. NRIs can also receive large covers with telemedical facilities to make term protection more feasible for Non-Resident Indians around the world.

  7. Terminal Illness Coverage

    Term plans for NRIs provide you with terminal illness coverage. It gives you a lump sum payment if diagnosed with a terminal illness.

Secure Your Family Future Today

₹1 CRORE

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 for NRI in India?

As discussed, buying term insurance for NRI is similar to buying a plan as an Indian resident. However, you have more options to secure the term cover. Here are the points to keep in mind while selecting and buying the best online term insurance for NRI in India:

  • Ensure the online presence of the plan

  • Claim settlement ratio is a significant factor for term insurers as it indicates the quality of the company and speed of settling claims

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

  • The best term insurers should employ processes to automate premium payment. NRI can also use the limited premium payment method to pay the whole premium in a short tenure.

How to Buy the Best Term Insurance Plan for NRIs from Policybazaar?

Step 1: Visit Term insurance for NRI

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

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

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

Documents Required to Buy Term Plan For NRI

  • Passport front and back side

  • Travel Questionnaire (Attached)

  • FATCA Form (Attached)

  • Employment ID Proof

  • Valid Visa Copy

  • Last entry-exit stamp

  • Residential Proof

  • Last 6 months’ bank statements and Last 3 Month salary slips

  • Photo

  • COVID vaccination certificate

  • Foreign Address Proof

Wrapping It Up!

As the sole earner of the family, you want to secure your dear ones when you are no longer with them to support them financially. Term life insurance secures your family and dependents in your absence by offering sizeable life coverage. If you are an NRI looking to purchase the best term insurance in India, you are very much eligible. You can buy a term insurance plan when you are visiting India or in a residential country. Best Term insurance for NRI in India comes with customizable and special features.

Different types of Plans


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