🌏 Why NRI Insurance in India Matters in 2025
Non-Resident Indians (NRIs) often maintain strong financial and family connections in India. From supporting parents to owning property or planning investments, insurance plays a key role in safeguarding these commitments.
Can NRIs buy insurance in India?
✅ Yes, absolutely. Both life and health insurance policies are available for NRIs under IRDAI (Insurance Regulatory and Development Authority of India) regulations.
In this guide, we’ll cover eligibility, benefits, tax rules, and the step-by-step process for NRIs looking to purchase insurance in India in 2025.
🛡️ Types of Insurance NRIs Can Buy in India
1️⃣ Life Insurance for NRIs
- NRIs can buy term plans, endowment plans, ULIPs, and whole life insurance.
- Policies can be purchased:
- Directly while visiting India
- Online from abroad, with e-KYC and video verification
- Popular insurers: LIC, HDFC Life, ICICI Prudential, SBI Life
2️⃣ Health Insurance for NRIs
- NRIs can buy individual or family floater health plans in India.
- Coverage usually applies only in India, making it ideal for NRIs visiting frequently or covering family here.
- Plans often require medical tests if purchased remotely.
🔗 Internal Link: Best Health Insurance Plans for Families in India 2025
3️⃣ Travel & Property Insurance
- Travel Insurance: For short visits to India, NRI can opt for temporary travel cover.
- Home/Property Insurance: Protects real estate or ancestral homes against natural calamities, fire, and theft.
✅ Eligibility & Key Requirements
- Status: Must be an NRI, PIO (Person of Indian Origin), or OCI card holder.
- KYC: Passport, visa, PAN, and proof of NRI/OCI status.
- Medical Test: May be required for life and health policies depending on sum insured.
- Premium Payment: Can be paid in INR or foreign currency via NRE/NRO accounts.
⚖️ Tax Benefits for NRIs
- Premiums qualify for deduction under Section 80C (up to ₹1.5 lakh).
- Health insurance premiums qualify for Section 80D benefits.
- Global tax rules: NRIs should check double taxation agreements between India and their resident country.
🔗 External Link: IRDAI Official Guidelines for NRI Insurance
🧾 Step-by-Step Guide to Buying Insurance as an NRI
1️⃣ Research and Compare Plans
- Check coverage, premiums, claim settlement ratio.
- Use portals like Policybazaar or BimaTalk for comparison.
2️⃣ Check Eligibility and KYC
- Submit passport, visa, NRI status proof, and PAN.
3️⃣ Undergo Medical Verification (If Required)
- Some policies allow tele-medical or video verification.
4️⃣ Pay Premium via NRE/NRO Account
- Premiums can also be paid via international credit card or remittance.
5️⃣ Policy Issuance and Global Access
- Most insurers provide digital policy issuance and online claim support.
💡 Pro Tips for NRIs
- ✅ Buy term insurance early to lock low premiums.
- ✅ Consider multi-currency payment options for convenience.
- ✅ Choose insurers with global claim assistance if you reside abroad.
- ✅ Inform your country of residence if required for tax purposes.
❓ Frequently Asked Questions (FAQ)
Q1: Can NRIs buy life insurance without visiting India?
A: Yes, many insurers offer online purchase with e-KYC and video verification.
Q2: Can NRIs claim health insurance while abroad?
A: Most Indian health plans cover hospitalization only in India, unless it’s an international plan.
Q3: Can NRIs get tax benefits for insurance in India?
A: Yes, NRIs can claim Section 80C and 80D benefits in India. Global tax benefits depend on DTAA agreements.
Q4: What payment methods can NRIs use for premiums?
A: Premiums can be paid via NRE/NRO bank accounts, FCNR deposits, or international cards.
Q5: Can an NRI buy insurance for parents in India?
A: ✅ Yes, NRIs can purchase health and term insurance for dependent parents residing in India.
📌 Final Thoughts
In 2025, NRIs can confidently buy life and health insurance in India, enjoying both financial protection and tax benefits.
By choosing IRDAI-approved insurers, ensuring KYC compliance, and comparing coverage options online, NRIs can secure family and property in India with ease.
Last Updated on August 15, 2025 by Singh sumit