Life Insurance Policies for NRIs

Ma Foi Randstad Workmonitor Survey 2011-Wave4. India, identified that more and more Indians wish to go to foreign nations for employment. Large number of Indians are doing good in other countries, earning well and also getting recognition of the contribution they make to the country they have adopted to pursue growth and achievements. However with family bonds and connections with the root, and for the benefits one can get by purchasing Life insurance policy, which has been a traditional investment favorite in India, one can not only secure their life, but gain from benefits the policies bring to them.

Most Indians working abroad would certainly hold at least one, if not more, life insurance policies. Typically one gets coverage while they are still in India, however if you have now moved out of India, you may still consider to purchase another one; this time as a NRI.

This now raises a question “Can an NRI buy life insurance in India?“. Well the answer is a big Yes, NRIs and Persons of Indian Origin (PIOs) (as defined by FEMA) who are resident abroad are allowed to buy life insurance in India. Thus, all persons of Indian origin, whether citizens of India or not are allowed to take a life insurance policy in India.

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