Term Insurance for NRI in the UAE

What is Term Insurance for NRI?

Term insurance is the simplest and most affordable way to ensure your family is financially stable in your absence. This term insurance product pays your nominee/beneficiary a lump sum in the event of your death. You can also select the death benefit amount based on your needs. This plan offers additional riders that protect the financial impact of serious illnesses or accidents.

How Does Term Insurance for NRI Work?

Let us understand how term insurance for NRI in UAE works with the help of an example:

Suman, a 23-year-old living in the UAE, buys term insurance for NRI or Indian expatriates to secure her family living in India. She purchases a plan for a 37-year policy term, covering her until she turns 60.  

Suman, unfortunately, meets an accident and suffers an untimely death in the 17th policy year. The family informs the insurer of her death and submits a duly filled claims form. The insurer settles the term insurance claim and offers the life cover amount as a death benefit.

Why Do You Need Term Insurance for NRI in UAE?

Indian expatriates need NRI term insurance for the following reasons:

• As an NRI living in a foreign country, you can still ensure your family's financial stability in the event of your unfortunate demise by buying term insurance for NRI in UAE.

• NRI term insurance plans allow Indian expats to customise the plan as per your needs.

• The life cover of an NRI term plan can help your family members pay off any remaining loans that may fall on their shoulders in your absence.

What is the Best Term Insurance for NRI in UAE 2025?

Here is the list of best term insurance for NRI in the UAE from Indian insurers in 2025:

*Disclaimer: ^~Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

What are the Key Features of Term Insurance for NRI in UAE?

Here is a list of key features of term insurance for NRI in UAE:

• Required Policy Term: You can easily choose the most suitable policy term for your family. Some term insurance for NRI in UAE offers the chance of securing your family till 99/100 years of age.

• Tele/Video Medicals: Various insurers allow NRIs and Indian expatriates to buy term plans by scheduling their medicals online via tele or video. This enables you to buy the most suitable plan from the comfort of your home.

• Choose Sum Assured: You can select the most suitable sum assured by assessing your annual income and your family’s financial needs in your absence.

• Premium Pay Options: Most insurance companies offer premium payment options like monthly, quarterly, yearly, and semi-annual payment modes.

• Quick Policy Issuance: By buying term insurance for NRIs online, the policy can be issued quickly without submitting any physical documents.

What are the Benefits of Buying Term Insurance for NRI from India in 2025?

Let us look at some of the benefits of buying NRI term insurance that can benefit you and your family:

• Affordable Premiums: Term insurance for NRI in UAE is one of the most affordable types of life insurance to secure your loved ones for the long term. With these plans, you can save on your premiums and invest the remaining amount into wealth creation or future goals.

• Death Benefits: The NRI term insurance pays your family the sum assured in case of your untimely death during the policy term. Your family can use the benefit amount to pay for their monthly expenses, take care of remaining loans, and pay for the child’s education.

• Flexible Premium Payment Options: You can choose to pay the premiums in the best-suited premium payment mode and term like, monthly, annual, quarterly, or semi-annual payment modes, with limited, regular, and single premium pay term. 

• Global and Pre-approved Cover: Policybazaar NRI term insurance provides pre-approved cover up to 5 Crores and global coverage, which ensures continued coverage no matter where you are geographically. 

• Tele/Video Medicals: The term insurance with tele/video medical checkups allows you to clear your medicals online via tele or video calls, and removes the hassle of coming back to India just for your medicals. 

• Special Exit Benefits: With special exit benefits, you can exit the plan early and receive back all the premiums paid until the point of policy cancellation.

• Delay the Premiums: You can choose to delay the payment of your premiums by 12 months with the premium holiday feature offered by several Policybazaar term insurance for NRI in UAE.

• Long Term Coverage: Term insurance can provide coverage for your whole life, i.e., till 99 or 100 years. This ensures that your family receives a guaranteed benefit amount in your absence.

• GST Waiver and Additional Discounts: You can avail of an 18% GST waiver on the term insurance premiums paid via an NRE (Non-residential External) bank account that supports freely convertible currency. Also, you can claim a 5% additional discount on the annual premium mode.

• Various Payout Options: Term insurance for NRI in UAE offers various benefit payout options like monthly payments, increasing monthly instalments, lump sum payments, and lump sum + monthly instalments. You can choose the most suitable benefit payout options for your family.

• Cover Against Illnesses and Disabilities: You can customise your plan by adding critical or terminal illness riders to get coverage against illnesses at nominal extra premiums. Some term plans for NRIs also offer the option of including accidental death or accidental disability riders in the base plan.

• Claim Intimation Benefits: The Policybazaar NRI term insurance in UAE provides an immediate term insurance claim intimation benefit as per the policy’s specific T&Cs. 

• Hassle-free Claims: In case of your unfortunate death, Policybazaar term insurance for NRI in UAE helps your family receive an easier and more hassle-free claim process with their dedicated claim assistance program.

• Tax Benefits: NRIs can claim term insurance tax benefits under sections 80C and 10(10D) of the Income Tax Act, 1961, as per the prevailing laws.

Wrapping it Up!

Buying an NRI term insurance is essential as it ensures your family's financial stability in your absence. You should always buy term insurance for NRI and Indian expatriates after comparing the available plans based on the premiums, sum assured, policy terms, and benefits offered available.

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