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RKD

Question

Dear Sir, I am an NRI, and after few days I will be going to india on my vacation. I want to purchase pure term insurance policy worth Rs 25 lakhs with additional riders of accidental death, permanent disability rider and critical illness cover. which private insurance comanies offer pure term insurance policy with all the above 3 riders? On SA of 25 lakhs, how much max CI cover can be taken

Asked By: RKD
On: 28th Jun 2012 12:13 AM
Answered Within: 2 Days

MIC Expert

Answer

Hi,

Since Term Plans are pure protection plans, it is a great choice for family security. Most Term Policies offered by most insurance companies in India can be purchased by a Non Resident Indian, NRI or a Person of Indian Origin, PIO simply by filling an additional NRI Questionnaire. They are not separate policies but the same policies that are offered to resident Indians as well.

However, only a few companies have actually streamlined their processes for issuing insurance policies to NRIs. LIC and ICICI Prudential are one of those. They will help you with documentations and other requirements for medical tests, etc. as well

Life Insurance Corporation of India (LIC) has a special NRI Centre. For details of NRI products from LIC refer to the below page
http://www.licindia.in/nri_centre.htm

And ICICI Prudential also has a special NRI Centre. For details of the same, refer to
http://www.iciciprulife.com/public/Others/NRI-Corner.htm

The choice of insurance plans available to you depends on the country you are residing in currently, your age and many other details. Hence we suggest that be open to the range of plans offered by them and then choose the one which best suits your requirement.

The rider coverage is usually given according to the base coverage but there might be different clauses for NRI according to country of residence, nature of work, etc.

Answered By: MIC Expert
On: 30th Jun 2012 1:15 PM

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