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NRI Term Insurance
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Know More About NRI Term Insurance

An insurance plan for life that is specifically made for Non-Resident Indians NRIs is known as NRI term insurance. Those who are citizens of India yet live abroad are known as NRIs. In the case of an unexpected death during the policy term, NRI term insurance products offer financial security to the policyholder's beneficiaries

Features Of the NRI Term Insurance Plan
  • Coverage
    In the event of the policyholder's passing during the policy term, NRI term insurance provides a set amount guaranteed (death benefit) to the nominee/beneficiary. The policyholder chooses the level of coverage when they buy the policy.
  • Premiums
    Policyholders must continue to make regular premium payments to keep their NRI term insurance coverage active. Depending on the terms of the policy and the choices offered by the insurance company, premiums may be paid annually, semi-annually, quarterly, or monthly.
  • Riders
    The coverage of a policyholder's NRI term insurance plan may be increased by selecting extra riders or benefits. The following riders are frequently used, disability riders, waiver of premiums, critical sickness coverage, and accidental death benefit.
  • Nomination
    For the promised amount to be paid out in the event of the policyholder's passing, the beneficiary must be named. Any individual the policyholder chooses may serve as the nominee, including family members and close friends.
  • Tax Benefits
    As long as applicable tax laws and regulations are followed, NRI term insurance plans provide tax advantages on premiums paid and death payments received.
Inclusions And Exclusions In NRI term insurance
  • Inclusion In NRI Term Insurance
    • Death Benefit
    • Premium payments
    • Convertibility
    • Additional riders
    • Free look period
  • Exclusion In NRI Term Insurance
    • Pre-existing health conditions
    • Misrepresentation or fraud
    • Suicide
    • Engaging in hazardous activities

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