KEEPING INSURANCE HUMAN
back arrow Back

Can NRI buy term insurance?

reply Share
25 Sep, 2021 by  KAMAL Gugliani

I am currently an NRI and would like to have a term insurance. What are the options available for me ?

like like
0
Term Life Insurance

2 Answer

Post
26 Sep, 2021

Hi Kamal,


Most Life Insurers allow NRIs to buy Term Insurance. You will be required to fill a detailed NRI questionnaire that's part of the proposal form + submit your income proof documents + fill the FATCA form.


Additionally, you should be in India while buying Term Insurance as the Insurer will want you to undergo a pre-policy medical check. Have a good 15-20 days at hand in India as the Insurer may also ask you to undergo tests more than once depending on your proposal form declaration & initial reports.


Hope this helps.


Asad Akbar

like like
0
icon-comment 3 Comments
icon-reply Reply
26 Sep, 2021
KAMAL Gugliani
like like
0
icon-reply Reply
like like
0
icon-reply Reply
07 Oct, 2021
Bhavna
like like
0
icon-reply Reply
08 Oct, 2021

Dear Kamal

Term insurance is available to NRI and one can buy in other country through online as well as offline channel . In India , medical cost is borne by insurer but proposer has to bear the cost of medicsl if you are seeking insurance from abroad .

NRI questionnaire is a must

Premium rates are same for NRI or RI .

You can pay the premium amount through foreign currency but claim will be paid in Indian rupees only in a bank account in India .

Benin is a small amd friendly cpuntry without anyrisk of internal strife hence proposal shpuld be acceptable.

Best wishes

Shailesh@insurancesamadhan.com

like like
0
icon-comment 0 Comments
icon-reply Reply
Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2021 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂