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Should NRIs buy life insurance in India?

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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