Best term insurance plan in india for nri

Best Term Insurance Plan in India for NRI
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About Us
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Need Of Term Insurance
 Every individual hopes to secure the finances of their family as long as they are alive.
 A term insurance is a type of insurance that provides coverage for a specific period of
time or for a certain predetermined duration.
 It is one of the varied of life insurance but less expensive.
 If the insured individual dies during the specific period, then the benefits will be paid
to the nominee of the individual.
 This form of insurance offers financial help to the family of the insured in case of his
death.

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Things to Consider While Choosing Term Insurance
 When the policy holder chooses the plan and its premium, he should take into
consideration the expenditure of his family and the amount they will require every
month.
 The liabilities should also be taken into consideration since they need to be paid off
on time.
 The insurance benefits should cover all the expenses in order to be useful to the
family of the policy holder.
 It makes no sense to purchase a term insurance plan that does not provide enough
cover for the family.

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Term Insurance Plan for NRI
 A variety of term insurance plans are also available for NRIs.
 It is extremely easy for an NRI to purchase a term insurance plan.
 He can purchase one when visiting India, with complete documentation and
completion of formalities, the policy will be considered as any other policy held by an
Indian citizen.
 If the NRI is unable to visit India, he can purchase the policy from the Country he is
residing in this can be done using a Mail Order Business.
 The policy will be verified by the official of the Indian embassy, notary and by an
Indian diplomat.

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Term Insurance Plan for NRI
 The term insurance for NRI has tenure between 6 months to 25 years and the
minimum age for the same is 18 years, which goes up to 55 or 60 years depending
on the terms of your Insurance Company.
 The premium for the plan is determined by the same manner in all insurance policies.
 Various Insurance companies offer a grace period of 15 days to 30 days, basis the
premium payment frequency to pay the premium if you have missed your premium
payment by any chance.
 Certain policies enable you to increase the amount of sum assured after a few years
of policy purchase.

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List of Best Term Insurance Plan for NRI
 Bajaj Allianz Term Insurance Plan
The eligibility for the plan is from 18 years to 60 years.
The minimum sum assured is Rs.2.5 lakh and there is no
maximum sum limit.
The premiums paid for the same are eligible for a tax benefit
under Section 80C.
The nominee may take the benefit in monthly installments over a period
of 5-10 years.
It is also possible to include your spouse in the policy at a later stage.
The tenure as well as the installments can be altered and set as per your
requirements.

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 Kotak Term Plan
 Kotak term plan comes with an eligibility of 18 years to 65
years.
The policy term ranges between 5 years to 30 years and
there is no maximum limit on the sum assured.
Tax benefits can be availed for the premium paid as well
as for the death benefits received.
The minimum sum assured should be Rs.3 lakh and an
option to purchase a rider if needed.
There is a high level of flexibility in terms of the payment of
premiums.

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 Amulya Jeevan Term Insurance Policy
 This policy is available for individuals from 18 years to 60
years and the minimum sum assured should be Rs.25
lakh..
 The maximum age limit is 70 years and there is no
maximum limit on the sum assured.
 One can avail tax benefits of the same.

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 ICICI Pru iProtect
 The term insurance plan offered by ICICI has a minimum
premium payment of Rs.2000.
 It has an age bracket of 20 years to 65 years and is
offered at affordable premiums.
 The plan comes with an additional death benefit which is
Rs.50 lakh or the base amount, whichever is lower, will be
paid in case of death due to accident.

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 IDBI Term Insurance
 The term insurance plan of IDBI helps
individuals buy insurance up to the age of 85
years and has a tax benefit.
 There is flexibility of tenure as well as monthly
premium payments.

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How to Renew Policy Before Expire
If you are looking to renew your policy before it expires, all you need to do is take a
couple of medical tests that will determine your current health condition and then the
criteria for renewal will be matched with your current health status.
 It helps to have a positive track record in terms of the payment of your premium.
 For NRIs, it is easy to apply for a policy similarly, the payment of premium is quick
and convenient.
 There are various companies offering term insurance for NRIs, one can simply
approach the chosen company and learn about the terms and conditions.

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How to Renew Policy Before Expire
 The documentation required for the same includes application form, a proof of
income, proof of age, attested copy of passport, medical report and the amount of
your first premium.
 Different insurance companies might ask for additional documents as per need.
 The medical condition of the policyholder will reflect on the premium and the terms
and conditions of the insurance.

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Best term insurance plan in india for nri

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