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Get Life Cover of ₹1 Crore by paying a premium of
₹7,085/month (for 30 years)
₹8,287/month
Save ₹1,202 with discounts
Includes 10% digital + 8.5% salaried discount on 1st year premium
Excludes GST
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Tata AIA Life Insurance Sampoorna Raksha Supreme (A Non-Linked Non-Participating Individual Life Insurance Plan) • UIN: 110N160V6
A term plan adds an essential layer of financial protection for your family and, in times of need, can help them obtain the necessary resources for their financial goals and commitments.
While term plans are an important part of a Non-Resident Indian’s (NRI’s), Overseas Citizenship of India (OCI) or Person of Indian Origin (PIO) investment portfolio, their main purpose is to secure their family in their absence. Term insurance for NRIs can offer this security while you live in another country away from your family so that you need not worry about their future in case of an unfortunate incident. An NRI can purchase a policy when visiting India or from their country of residence.
Find out more about the working of a term plan for an NRI and its numerous features and benefits.
A Non-Resident Indian & OCI/PIO can purchase a term insurance plan of their choice in India. There is a wide set of options when it comes to buying term insurance in India for an NRI.
People living outside India may apply for NRI term insurance plans. The minimum age for term insurance for NRI in India is 18 years. Eligible people include:
Non-Resident Indians (NRIs): Indians with valid passports living in other countriesOverseas Citizens of India (OCI)/Persons of Indian Origin (PIO): Foreign citizens who once had Indian passports, have Indian parents/grandparents, or married IndiansForeign Nationals: People from other countries now living in IndiaTerm insurance NRI plans tend to protect your family in India. These plans work even when you live in another country.
For NRI term insurance, companies might need documents from your current country. Also, costs tend to change based on where you live, your age, and your health. You may find suitable term insurance for NRI in India from the many choices available.
There is quite a lot of similarity between the way a regular term plan and a term plan for an NRI works.
For instance, the choice of policies, the policy tenure, and premium payment options are offered for general term plans and those designed for Non-Resident Indians.
Moreover, the death benefits will be paid out to your beneficiaries if you pass away during the policy term, just as with a regular term plan. For term plans with a return of premium, the total of all premiums paid will be paid out on maturity.
To purchase the term plan of your choice, you can browse through the different term insurance policies under Tata AIA Life Insurance. Go through the benefits and features of all the plans. Also, read through all the exclusions to understand what the policy does not cover.
Choose an adequate sum assured or coverage needed to keep your family secure in case of an unfortunate event. This amount should be sufficient for all their future financial needs, including any medical emergencies.
You can customise the policy by choosing a policy term that is most suitable for you and your family. With a longer policy term, you can ensure uninterrupted life cover protection for your family.
Select a premium paying term, frequency and mode that helps you keep the premiums reasonable and make the payments as per your convenience. This can help you pay the premiums without financial strain.
NRIs & OCI/PIO can make their term plan premium payments through internet banking using their foreign bank accounts, Non-Resident External (NRE), Non-Resident Ordinary (NRO), Foreign Currency Non-Resident (FCNR) Accounts.
The policy can be further customised with optional riders^ that protect you and your family from a specific set of risks and unforeseen events such as critical illnesses, accidental death, and disability, and more. These riders can be added to the policy for an additional premium.
The documentation is a simple but crucial part of buying term life insurance for NRIs. Keep all the necessary documents ready at hand so that once you finalise your policy, you can easily submit the documents.
Once all the documents are verified, we can issue the policy and the coverage for the term plan for NRIs becomes active.
Term insurance plans for NRIs are designed to protect your family financially in your absence. When you buy a term plan, it is not only an investment to add to your portfolio in India but can also act as a layer of financial protection that your family can access in case of your untimely demise.
These are some of the important benefits of a term plan for NRIs & OCI/PIO:
The premiums for term plans for NRIs can be quite reasonable even when the life cover is quite high. This can help you choose a flexible sum assured for your family’s security without having to worry about the cost of the premium payments. You can also choose the coverage based on the premium amount you need to pay.
Since a medical check-up is mandatory for NRIs buying a term plan, those living in a standard country and within the prescribed age limit need not travel to India for the health check-up. A simple telemedical and video-medical check-up facility can be arranged for the policyholder. A detailed physical MER (Medical Examination Report) might be required if any medical issue is reported by the officer conducting the MER at the first stage, and there is no compulsion to visit India to purchase a term insurance plan. We also have an approved medical facility in 50 + foreign countries.
A term plan for NRI ensures that your family is secured against the financial impact of debts, other unpaid loans, and financial liabilities in your absence. In case of an unfortunate incident in your country of residence.
Your policy coverage can be easily enhanced with optional riders^ that offer protection against specific risks accidental death, disability, and more, just at an added nominal premium cost. With term insurance for critical illness get coverage for critical illnesses.
Term plans for NRIs by Tata AIA Life Insurance Tata offer whole life coverage up to 100 years of age. Understand your family’s future financial needs and choose a suitable policy term for maximum protection and life cover benefits.
Tata AIA Life Insurance term plans with a return of premium offer a 105% return of the total premiums paid$. Hence, if you survive the policy term, you will be eligible to receive these maturity benefits.
Under your term insurance plan, you can opt for the Life Stage Plus option at policy inception which enables you to increase your coverage at important milestones in your life. These milestones include events like marriage and childbirth where additional coverage is necessary.
As an NRI, you can claim tax deductions on your term plan in India. Under Section 80C of the Income Tax Act, you can claim the deductions on the premiums paid on the policy if you have a valid PAN card and taxable income in India.
Tata AIA
Non-Linked, Non-Participating, pure risk, Individual Life Insurance Product (UIN:110N176V06)
Term insurance plans for NRIs come with flexible policy terms that one can choose from. With a Tata AIA Life Insurance term plan of your choice, you can receive whole life coverage up to 100 years of age. Thus, you and your family can enjoy uninterrupted life insurance coverage for your entire lifetime and stay secure without any worries.
Enjoy a life cover of your preference based on your family’s needs. Your insurance provider can offer a lower limit and a higher limit so that selecting coverage is easier. Be sure to understand your family’s future financial needs and other emergencies before finalising the coverage amount.
To make premium payments convenient for NRIs, term plans offer different options for planning the payments. The premiums can be paid on an annual, half-yearly, quarterly, and monthly frequency.
You can also choose to pay regular premiums throughout the policy term (Regular Pay), for a limited number of years (Limited Pay or opt for a one-time lump sum payment under the Single Pay mode.
Premium payments can be easy when you buy an online term plan for NRIs. You can keep the policy coverage active with reasonable premiums by choosing a convenient premium payment mode and frequency.
You can use internet banking of your NRO, NRE, or FCNR accounts for the payments or use a foreign bank account. You can also automate payments when you use the internet banking facility.
The following is the breakdown of some of the reasons why you should purchase a term plan from India:
Cost-Effective Protection for Loved Ones:
Significant Tax Advantages:
Convenient Payment and Management:
Global Coverage with Local Benefits:
Simplified Process Despite Distance:The optimal timing for purchasing term insurance for NRI is early in life. Insurance companies may charge more as you grow older because health risks increase with age.
When you buy term insurance NRI early, you get:
Affordable premium rates that stay the same throughout your policy
Longer coverage period for better family protection
Less chance of being rejected due to health problems
Modern practices in insurance have enabled Non-Resident Indians to obtain term insurance for NRI in India by undergoing a video medical examination remotely. Thus, it becomes easy to obtain term insurance for NRI sooner that too at affordable rates.
As an NRI , OCI/PIO, if you choose to buy a term insurance plan in India, the process of buying the policy is quite hassle-free and simple once you know how to go about it.
These are the two ways an NRI can buy a term plan in India.
While In India
The process of buying a term plan for NRIs in India can be simple, especially if you choose to buy it through online mode.
Visit the Tata AIA Life Insurance official website to buy online term insurance for NRIs
Go to term plans and browse the different term insurance plans.
You can also contact Tata AIA Life Insurance customer service for assistance.
Once you find a policy that meets your needs, you can submit all the documents required for the policy.
You will also need to disclose your country of residence to update all your details.
Our sales representatives also can help you in buying the policy.
From the Country of Residence
The process of buying the term plan from your country of residence requires no additional effort.
Visit the official Tata AIA Life Insurance website.
NRI can purchase a term plan online
Contact our customer service so that we can guide you with the purchase.
While you buy from a foreign country NRI doesn't need to be present in India when they need to present their medicals. Facilities like tele or video medicals can help them verify their medical documents and check-ups without having to travel to India. Also, we have established medical centres in 50 + countries if there is any further investigation suggested in Video/ tele MER
The presentation of documents of the term insurance for NRIs is an important step that should be followed properly so that everything runs smoothly in the policy purchase.
A valid passport and an attested copy of the same document for both the insured and the proposer (in case both are different).
The policy proposal form or the filled-out online application form
All the medical check-up reports and documents with the policyholder’s health status.
Proof of income and a copy of the Tax Residency Certificate (TRC).
Proof of age of the policyholder.
Proof of address could be any government approved address proof in any language with a valid address in it (eg. Driving license, Bank statement, Residence card with address etc. )
Foreign nationals should have an OCI card or its substitute otherwise should possess a valid Indian work visa
The first premium payment amount.
Claiming term insurance for NRI in India involves a simple which may help you receive insurance benefits with ease. The following are some steps to claim the NRI term insurance.
Step 1:Step 2:Step 3:Step 4:Our experts are happy to help you!
Yes, an NRI can purchase a term insurance plan without visiting India. There are telemedical and video medical services available that enable the NRI to get their medical documents checked before the policy purchase without being present in person subject to Board approved underwriting policy.
No, it is not necessary for one to be present in India while buying term insurance for NRI & OCI/PIO. Since medical check-ups can be checked and confirmed via tele or video calls, an NRI can purchase the policy from their country of residence.
It is important for an NRI & OCI/PIO to consider the below factors before purchasing term insurance in India for NRI:
The policy tenure
The policy term for term insurance for an NRI & OCI/PIO can be as less as 6 months and go up to a maximum term of 40 years. Be sure to choose a policy tenure that will cover your family for an adequate period of time. While the plan is active, you (the policyholder) should be between 18 – 65 years of age, as this is an important eligibility criterion for a term plan.
The policy coverage
The sum assured or the policy coverage should be planned as per your family’s future financial needs. In your absence, the death benefit paid out to them should offer sufficient financial support to them. Consider all expenses and emergencies when planning the sum assured, including the inflation rate. You can also opt for an increasing term plan whose coverage increases every few years.
Yes, it is mandatory for an NRI & OCI/PIO to undergo a medical examination in their country of residence and provide the results to the insurer in India. They can send over the documents via courier or also opt for the telemedical or video-medical option.
A term plan for an NRI & OCI/PIO can be customised on the basis of the policy tenure, the sum assured amount and also the premium payment frequency and mode. One can also further customise the policy by adding term plan riders6 to the policy. However, the customisation through riders may be subject to certain terms and conditions.
Yes, an NRI & OCI/PIO can purchase multiple term insurance plans in India, provided that the premiums for all the policies are paid on time.
If you have purchased a term insurance plan and then want to move abroad, let your insurance provider know about it so that the policy details can be altered accordingly. Also, mention the name of the country where you will be residing. Your insurer will get in touch with you if more information is needed.
As a non-resident Indian &OCI/PIO, you can purchase a term plan for NRI and pay the premium amount by logging on to your Non-Resident External (NRE) or Non-Resident Ordinary (NRO) account or foreign bank account with a swift facility. Be sure to check if your bank offers internet banking facilities so that the process is simple and hassle-free.
The tax benefits4 for a term plan for an NRI & OCI/PIO are the same as a resident policyholder when it comes to claiming tax deductions. You can claim tax deductions on the premiums paid under Section 80C and and Section 10(10D) of the Income Tax Act, 1961, subject to fulfilling conditions specified therein
NRIs & OCI/PIO can enjoy a tax exemption on the maturity benefits of a term plan with a return of premium under Section 10(10D). These exemptions are, however, subject to policy terms and conditions.
NRIs might qualify for a GST waiver if they pay premiums through an NRE account. This benefit applies when your status is NRI/PIO/OCI with residence outside India. However, proper documentation is necessary to verify eligibility for this tax advantage.
GST tends to impact NRIs although the impact is similar to that on resident Indians,However, NRIs may reduce this impact by seeking GST waiver when using their NRE account. This process typically requires proof of foreign address and proper documentation.
To file a term insurance claim in India, the NRI & OCI/PIO should ensure that they have a valid term plan and all the necessary documents to file a claim. One can reach out to Tata AIA Life Insurance through any of the following channels:
Email us at: customercare@tataaia.com
Call our helpline number - 1860-266-9966 (local charges apply)
Walk into any of the Tata AIA Life Insurance Company branch offices
Write directly to us at:
The Claims Department,
Tata AIA Life Insurance Company Limited
B- Wing, 9th Floor,
I-Think Techno Campus,
Behind TCS, Pokhran Road No.2,
Close to Eastern Express Highway,
Thane (West) 400 607.
IRDA Regn. No. 110
For NRIs, the term insurance claims process begins with the nominee contacting the insurance company for information regarding the policyholder's death. Documents submitted may include a death certificate attested by a foreign embassy, original policy documents (if applicable), and claim forms that must be filled in. Please note that each insurer has its documentation requirements; therefore, understanding policy terms before settling the claim may provide more clarity on the requirements.
Yes, NRIs & OCI/PIO can transfer or assign the term insurance policy to someone else. However, the insurance provider should be informed about the transfer so that the due process is followed and the transfer is smooth and hassle-free. From here on, the new owner of the policy will have to start paying the policy premiums.
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