Topic: What are life insurance rules for nri's in India?

please help

The set of rules are extremely complicated.

The rules prescribe the plans that can be offered, the sum assured under such plans, the riders options etc. Further they vary from country to country. If you need further details you can contact me on bhushansheth@gmail.com. NRIs are a unique set of class. Sometimes subjectively it is possible that some rules are eased out to invite HNIs, like what was done for Jeevan Aastha plan by LIC.

RBI came out with a revised regulation and as per this regulation the policy can be issued to NRI and the NRI can pay the policy either from his NRE account or NRO account. However he is eligible to get the sum assured only in Indian Rupees. All claims would also be settled in Indian rupees only.

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