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Welcome to NRI Centre, where we provide comprehensive information about LIC plans that cater to the specific needs of NRIs (Non-Resident Indians).
People of Indian origin are categorized into two categories
- Non-Resident Indian wherein the person must be an Indian Citizen with a valid Indian passport. He/she may be currently residing in another country, but do not hold citizenship of the foreign country.
- Foreign National of India Origin (FNIO) wherein the person resides in a foreign country and also holds the citizenship of that country.
Conditions applicable for NRIs/FNIOs/PIOs/OCI Holders are:
- Policies are issued in Indian Rupees only
- NRIs can apply for a LIC policy during their visit of stay in India.
- NRIs may also take their LIC insurance cover during their stay abroad. All formalities are completed in their present country of residence through the Mail Order Business. Call us at +91-9230091000 to discuss your requirements.
- Minimum Sum Assured is Rs. 10 lakhs and maximum subject to conditions of insurability.
- Under the Mail Order Business, the maximum sum assured allowed is Rs. 3 crore.
- Applicant must provide proof of income in the form of income tax returns, copy of employment contract along with salary slips, Certificate from Chartered Accountant.
- Personal Financial Questionnaire must be filled in case the sum assured is high or policy is applied through Mail Order Business.
- Benefits of Critical Illness are not granted.
- Term Rider Benefit is restricted to a certain limit of Sum Assured.
- Maximum Sum Assured is restricted in respect to term insurance plans.
- NRI is eligible for insurance cover under Non-Medical (Special) scheme provided:
- Insurance cover is applied for during NRI's visit to India or through Mail Order Business wherein LIC agent completed the formalities by visiting the applicant's country of residence.
- Proposer is not more than 50 years old.
- Proposer is a professional employed in a Government or reputed commercial company
- Proposer resides in Group V countries only.
- Proposer does not apply for high-risk cover with term rider benefits.
- Medical Report is mandatory if the proposer is not applying under the Non-Medical Scheme.
- The proposer must submit an attested copy of Passport, proof of age and income.
- An extra premium may be charged for residents of countries categorized in group I to IV
- FNIOs must hold OCI Card to apply through Mail Order Business
- Children of NRIs born in foreign country are also eligible to take LIC policy through Mail Order Business