Term Insurance Policy – NRI and non Indians

POSTED BY Diptendu Mitra ON December 28, 2011 11:02 pm COMMENTS (3)

I am looking to purchase a term life insurance policy for myself and my wife. Both of us are of Indian origin but not Indian citizens anymore. I have called multiple insurance providers and am getting contradictory information on whether we can be provided the insurance we seek. Has anyone on this forum had a similar experience before? Would you be able to recommend any providers?

3 replies on this article “Term Insurance Policy – NRI and non Indians”

  1. Dear Diptendu, for the given situation that you ‘ll remain outside of India for next 10-15Y at least & during this period you are also not an Indian citizen. No Indian Insurer ‘ll provide a cover for you. Even if you are able to manage a cover from any Indian insurer & in case there is a claim, who ‘ll file & how this claim procedure ‘ll be completed?

    Also you used the word – settle – It indicates that you ‘ll come to India only after you have a created a certain wealth. As the corpus is there with you after 10-15Y, there is no need of insurance. For the given situation, my take ‘ll be to opt for term cover from the country where you are residing in at present.



  2. Diptendu Mitra says:

    Hi Ashal – The reason is simply because we would like to settle in India at the end of our professional careers (although that is still several years away).

    Diptendu .

  3. Dear Diptendu, when both of you are not indian citizen anymore & out of India, may I know the reason to opt for an indian term cover? Why are you not purchasing the same in the coutry where you do have citizenship or working?



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