Term Insurance for NRIs
22 Jun, 2023
by Ram
Hi,
I am an NRI, living outside of India for 10+ years now. I am in age bracket of 40-45 years, with no medical history or condition at the moment. I am looking for pure vanila term insurance options in India, sum assured of around 2Cr+. Few questions:
- Is there any preference on Insurance company - LIC Vs Kotak Vs Max Vs anyone else?
- For the medical requirements, some companies seem to be okay with tests getting conducted outside India. How to go about it. and the info is very "agent-dependent".
- What are the pitfalls I should be aware of. Agents may be over-eager and may help in getting the insurance but how should I ensure that they dont fill in any information which may backfire for me or my family later.
- Lastly, an agent has shared that Max Life is providing up to 3CR term insurance for NRIs without medical tests. Couldn't find it on Max's website. How to find the legibility of such campaigns.
Thanks.
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Hello Ram,
It's great that you're planning to buy a term insurance plan for your family's financial security. Here are the answers to your questions -
Our free 1-to-1 consultation service is powered by Beshak's unbiased analysis and research. You can choose an advisor of your choice and discuss your requirements in depth with them. They will help you with any specific questions or concerns you may have, and assist you in narrowing down on a term plan that best suits your and your family's needs.