Will My Term Insurance Be Valid Even After I Move Abroad?

Will My Term Insurance Be Valid Even After I Move Abroad?

Will My Term Insurance Be Valid Even After I Move Abroad?

If a term insurance policyholder dies outside of India within the policy term, the nominee will get the death benefit. However, it is a good idea to notify the insurer’s home branch of his transfer.

Is It Possible for NRIs To Buy Term Insurance in India?

An NRI (non-resident Indian) is an Indian citizen who has lived abroad for a job, business, or any other reason, or an Indian citizen who has spent less than 182 days in India during the previous financial year. Here are some critical considerations for Indians migrating to another nation or Non-resident Indians (NRIs) while purchasing term insurance:

  • The policyholder must be an Indian citizen at the time of purchasing.
  • The policyholder must not have filed for citizenship on foreign land or intend to do so in the near future.

However, an NRI who has no term insurance coverage in India and wants to get one while migrating overseas has two options:

  • When he arrives in India, he should purchase a term policy in person and complete the administrative and underwriting obligations. 
  • By using the Mail Order, an NRI can acquire a term policy from India while residing in another nation. A notary, an Indian diplomat, or an officer of the concerned Indian embassy overseas must verify the policy purchase.

Features Of NRI Term Insurance Policies

Policy Term

Term insurance contracts for NRIs often last anywhere from 6 months to 25 years. The lowest entrance age is 18 years old, and the maximum age ranges from 55 to 60 years old, depending on the NRI’s health and age at the time of purchase.

Sum Assured

The sum promised is restricted to a range of Rs. 2 lakhs to Rs. 1 crore. The sum promised, or death benefit is given to the nominee in his or her NRE (Non-Resident External) account in the case of the NRI’s death. It is dependent on the type of the NRI’s employment, the nation of residency, and the policyholder’s income.


The amount of the premium is determined by numerous criteria, including the policy term, sum assured, payment frequency, and riders selected, if any. For a certain sum assured, resident and non-resident Indians pay the same premium.


To begin the policy enrollment process, an NRI must submit the following papers to the insurer: proposal form, age and income proof, health report, certified passport copy, application cost equal to the first premium payment, and so forth. Suppose an NRI wants to purchase a term policy via Mail Order Business while residing in a foreign country. Then additional documents such as proof of income in the form of income tax returns, a copy of the employment contract reflecting pay compensation, a certificate from a chartered accountant, a personal financial questionnaire, and so on must be submitted to the insurer.

Policy Renewal

Few term plans allow NRI policyholders to renew their policies when they reach maturity. In order to keep a solid track record, NRIs must also guarantee that they do not fail on premiums or postpone premium payments during the policy term.

  • Claim Initiation

    The following additional documents must be submitted to the insurer to begin the claim process:

    • Employer certificate, as well as leave and contact information
    • If the corpse has been embalmed to preserve it after death, the embalming institution must provide a certificate.
    • Certified copy of death certificate from the Indian Embassy in the country of death


Given the massive presence of the Indian diaspora overseas and their elderly parents and dependents who reside here at home, term insurance for NRIs is a big stride by the Indian insurance market. However, it is crucial to remember that not all NRIs are eligible for term insurance because Indian insurers do not serve NRI customers in difficult or strife-torn nations.

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