Term Insurance plan for NRE?

POSTED BY SACHIN VAMAN SHIVGAN ON April 28, 2012 4:23 pm COMMENTS (5)

I have been working in UAE from year 2003. is it possible to get term insurance plan in India for NRE?
If answer is yes, please suggest good term insurance plan.
Thanks & Regards
Sachin

5 replies on this article “Term Insurance plan for NRE?”

  1. Jig says:

    Hello,
    You may opted for term plan of lower sum which is also non medico while you are still out of india.
    I have taken one last year from aviva of 30 lac and i just filled the form and send their HO.

    thanks

    1. SACHIN VAMAN SHIVGAN says:

      Thanks Jig.

      1. Dear Sachin, If you are in Gulf & ‘ll remain there for next 10-15 years due to your job, my choice ‘ll be to purchase a local term plan from the country you are in at present. It’s far better to keep a good sum assured term plan from gulf rather than having a low sum assured term plan from India.

        @ 30 or 40L sum assured, how much multiple of your yly income from Gulf you ‘ll be covered in the indian term cover? Think over it.

        Thanks

        Ashal

  2. Sachin

    You will be able to get a term plan but for that

    1. You need to be in India for medicals
    2. You need to show some residential proof
    3. If the Sum assured is above a limit, then you need to also show income proof in india

    So now things you should do this make your life easy

    Take a offline term plan for lower than 50 lacs amount , that would make sure that there is lower changes of rejection

    1. SACHIN VAMAN SHIVGAN says:

      Hey Manish,
      Thanks for prompt reply.
      I will go for offline term plan when i will be on vacation.
      But what if they will ask income proof for lower than 50 lacs amt.?

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