Should NRIs buy life insurance in India?
- Should NRIs buy life insurance in India? by Deepa Venkatraghvan
- Life insurance has been a traditional investment favorite in India and most Indians are likely to hold at least one, if not more, life insurance policies. If you are a Non Resident Indian (NRI), you may have bought a policy while you were a Resident Indian or you may be considering buying one as an NRI. Let’s take a look at the rules relating to buying life insurance in India. The rules regarding insurance are governed by Exchange Control Manual.
- Can an NRI buy life insurance in India?
- Does the NRI have to be present in India at the time of buying the policy?
- How can premiums be paid?
- Are premiums higher for NRIs as compared to resident Indians? Are there any limits on the sum assured?
- What are the rules regarding death and maturity proceeds?
- Should an NRI buy life insurance in India?
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