Best Term Insurance Plan in India for NRI
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Need Of Term Insurance Every individual hopes to secure the finances of their family as long as they are alive. A term insurance is a type of insurance that provides coverage for a specific period of time or for a certain predetermined duration. It is one of the varied of life insurance but less expensive. If the insured individual dies during the specific period, then the benefits will be paid to the nominee of the individual. This form of insurance offers financial help to the family of the insured in caseComparepolicy.com of his Copyright©2017
Things to Consider While Choosing Term Insurance When the policy holder chooses the plan and its premium, he should take into consideration the expenditure of his family and the amount they will require every month. The liabilities should also be taken into consideration since they need to be paid off on time. The insurance benefits should cover all the expenses in order to be useful to the family of the policy holder. It makes no sense to purchase a term insurance plan that does not provide enough 4 for the family. Copyright©2017cover Comparepolicy.com
Term Insurance Plan for NRI A variety of term insurance plans are also available for NRIs. It is extremely easy for an NRI to purchase a term insurance plan. He can purchase one when visiting India, with complete documentation and completion of formalities, the policy will be considered as any other policy held by an Indian citizen. If the NRI is unable to visit India, he can purchase the policy from the Country he is residing in this can be done using a Mail Order Business. The policy will be verified by the official of the Indian embassy, notary and by an 5 diplomat. Copyright©2017Indian Comparepolicy.com
Term Insurance Plan for NRI The term insurance for NRI has tenure between 6 months to 25 years and the minimum age for the same is 18 years, which goes up to 55 or 60 years depending on the terms of your Insurance Company. The premium for the plan is determined by the same manner in all insurance policies. Various Insurance companies offer a grace period of 15 days to 30 days, basis the premium payment frequency to pay the premium if you have missed your premium payment by any chance. Certain policies enable you to increase the amount of sum assured after a 6 few Comparepolicy.com years Copyright©2017
List of Best Term Insurance Plan for NRI Bajaj Allianz Term Insurance Plan The eligibility for the plan is from 18 years to 60 years. The minimum sum assured is Rs.2.5 lakh and there is no maximum sum limit. The premiums paid for the same are eligible for a tax benefit under Section 80C. The nominee may take the benefit in monthly installments over a period of 5-10 years. It is also possible to include your spouse in the policy at a later stage. Copyright©2017 The tenure Comparepolicy.com as well as the installments can be altered and set as
List of Best Term Insurance Plan for NRI Kotak Term Plan Kotak term plan comes with an eligibility of 18 years to 65 years. The policy term ranges between 5 years to 30 years and there is no maximum limit on the sum assured. Tax benefits can be availed for the premium paid as well as for the death benefits received. The minimum sum assured should be Rs.3 lakh and an option to purchase a rider if needed. Copyright©2017 Comparepolicy.com
List of Best Term Insurance Plan for NRI Amulya Jeevan Term Insurance Policy This policy is available for individuals from 18 years to 60 years and the minimum sum assured should be Rs.25 lakh.. The maximum age limit is 70 years and there is no maximum limit on the sum assured. One can avail tax benefits of the same.
List of Best Term Insurance Plan for NRI ICICI Pru iProtect The term insurance plan offered by ICICI has a minimum premium payment of Rs.2000. It has an age bracket of 20 years to 65 years and is offered at affordable premiums. The plan comes with an additional death benefit which is Rs.50 lakh or the base amount, whichever is lower, will be paid in case of death due to accident.
List of Best Term Insurance Plan for NRI IDBI Term Insurance The term insurance plan of IDBI helps individuals buy insurance up to the age of 85 years and has a tax benefit. There is flexibility of tenure as well as monthly premium payments.
How to Renew Policy Before Expire If you are looking to renew your policy before it expires, all you need to do is take a couple of medical tests that will determine your current health condition and then the criteria for renewal will be matched with your current health status. It helps to have a positive track record in terms of the payment of your premium. For NRIs, it is easy to apply for a policy similarly, the payment of premium is quick and convenient. There are various companies offering term insurance for NRIs, one can12 Copyright©2017 Comparepolicy.com
How to Renew Policy Before Expire The documentation required for the same includes application form, a proof of income, proof of age, attested copy of passport, medical report and the amount of your first premium. Different insurance companies might ask for additional documents as per need. The medical condition of the policyholder will reflect on the premium and the terms and conditions of the insurance. Copyright©2017 Comparepolicy.com
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Published on Mar 27, 2017
A term insurance is a type of insurance that provides a coverage for a specific period of time or for a certain predetermined duration.