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What Our Plans Cover
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Death benefit worldwide
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Terminal illness acceleration on m...
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Optional critical illness and acci...
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Choice of lump sum or staggered pa...
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Continuity of cover on repatriatio...
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Cover during visits to India and i...
Who Can Consider This Plan?
- Entry age typically 18 to 65, with cover ceasing between 60 and 85
- Demonstrable income — the sum assured must be justified by earnings
- Full disclosure of health, smoking, alcohol use and family medical history
- Medical examination, usually required above a threshold age or sum assured
- Indian resident or NRI, subject to the insurer's country rules
What May Not Be Covered?
- Suicide within the first twelve months
- Residence in a country the insurer excludes or has not approved
- Undeclared hazardous occupations, which are common in some expatriate roles
- Death from material facts concealed at proposal
- Any survival or maturity benefit
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Indian life insurers issue term policies to non-residents, and for many the reason is simple arithmetic: Indian mortality rates and Indian pricing make the same sum assured considerably cheaper here than comparable cover in most countries of residence.
The second reason is where the money lands. A policy issued in India pays a nominee in India in rupees, without the cross-border probate and remittance complications a foreign policy can create for a family here.
The process has non-resident-specific elements. Medicals may need to be completed in India or through an approved facility abroad. Country of residence affects acceptance, and some jurisdictions attract loadings or declines. Premiums are typically paid from an NRE or NRO account.
Who should consider it
Non-residents with dependants in India — parents, a spouse, children, or a property loan being serviced here. Non-residents who intend to return, since the policy continues unchanged on repatriation.
It is also worth considering alongside, rather than instead of, cover in your country of residence. The two policies serve different families and different currencies, and holding both is a common and sensible arrangement.
Benefits
- Indian pricing, which is materially cheaper than most overseas equivalents
- Benefit paid in rupees to a nominee in India, without cross-border friction
- Cover continues unchanged if and when you return to India
- Premium payable from an NRE or NRO account
- Section 80C relief where you have Indian taxable income
- Death benefit tax-free under Section 10(10D)
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Death benefit worldwide, subject to the policy terms
- Terminal illness acceleration on most plans
- Optional critical illness and accidental death riders
- Choice of lump sum or staggered payout for the nominee
- Continuity of cover on repatriation to India
- Cover during visits to India and in the country of residence
Typically not covered
- Suicide within the first twelve months
- Residence in a country the insurer excludes or has not approved
- Undeclared hazardous occupations, which are common in some expatriate roles
- Death from material facts concealed at proposal
- Any survival or maturity benefit
- Travel to or residence in a region under an active exclusion
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 We work out the cover, before the plan Income, liabilities, dependants and the years they need supporting. The sum assured is the decision; the brand is a detail.
- 2 Underwriting reality check Health, occupation, smoking and family history decide who will accept you and at what price. Better to know now than after a rejection.
- 3 Two or three quotes with the claim record attached Premium matters, but so does the insurer's claim settlement history and how it treats early claims.
- 4 Proposal, medicals and financial underwriting Medicals are arranged at home. For larger cover the insurer will also want income proof — we prepare that file properly.
- 5 Policy issued, and your family knows where it is A term plan nobody can find is a term plan that does not pay. We make sure the nominee has the details.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Country of residence affects both acceptance and price. Declare it accurately, along with any travel to regions the insurer treats as high risk.
- Confirm that cover is worldwide rather than limited to India. Most modern contracts are, but the term is worth reading rather than assuming.
- Occupation matters more for expatriate buyers than for resident ones. Offshore, aviation and site-based roles frequently attract loadings and are frequently under-declared.
- The benefit is paid in rupees. If your dependants live outside India, consider whether that currency is the right one for them.
- Coordinate medicals with a visit home where possible. Arranging them abroad is workable but slower, and issuance sometimes stalls waiting on them.
Documents required
- Completed proposal form with full health and lifestyle disclosure
- Identity proof — Aadhaar, passport or PAN
- Address proof
- PAN card, mandatory for life insurance
- Income proof — salary slips, Form 16 or filed returns
- Bank statements, for larger sums assured
- Medical reports, arranged by the insurer
- Recent passport-size photograph
Frequently Asked Questions
Can a non-resident buy an Indian term plan?
Yes. Indian insurers issue term cover to non-residents, subject to country of residence and their own underwriting rules. A handful of jurisdictions attract loadings or declines, so it is worth confirming acceptance before starting the medicals.
Is it cheaper than cover where I live?
Frequently, and sometimes substantially, because the policy is priced on Indian mortality and Indian costs. That said, the two policies do different jobs — the Indian one pays a family here in rupees — so the comparison is not purely about price.
Does it cover me outside India?
On most modern contracts, yes, worldwide. It is nevertheless a specific term of the policy rather than a universal rule, and worth confirming in your own document.
Where do I take the medical tests?
Either in India during a visit, which is usually simplest, or through a facility the insurer approves in your country of residence. Plan for it — pending medicals are the most common reason issuance stalls.
What happens if I move back to India?
Nothing changes. The policy continues on its existing terms with no fresh underwriting, which is one of the practical reasons to hold Indian cover through the non-resident years.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.