Life Insurance Plans
for NRI
If you have a GOAL, We have a PLAN FOR IT!
We have a range of life insurance solutions which can help you take care of your goals at different stages of your life.
What makes ICICI Prudential Life a partner that you can count on?
As an NRI who is considering to invest in India, the life insurance space has a variety of products to suit all your needs – be it planning for your retirement, funding your child’s education or fulfilling similar goals. We, at ICICI Prudential Life Insurance, are committed to bring you innovative products and solutions. You can choose from a range of plans that offer pure protection (Term plans), protection and savings (ULIP and Traditional Savings/Money Back plans), income after retirement (Retirement plans) and solutions customized for your specific needs.
In addition to this, our aim is to ensure that you and your family are secure and free from worries, regardless of where you live. With ICICI Prudential Life Insurance, you know you have made the right choice at every step of your policy – whether it is easy issuance of your policy, performance of our funds, hassle-free claim settlement or customer service at your fingertips.
Our goal has always been to make the process of buying life insurance simpler and hassle-free for you, through innovation and technology. With our website, www.iciciprulife.com, we bring an ICICI Prudential Life Insurance branch to you. Here you can carry out a number of transactions, from the comfort of your home or office.
1. Can NRIs invest in life insurance policies?
Yes, NRIs can invest their money in life insurance. Life insurance policies in India can be bought by any person of Indian origin, regardless of whether they are NRIs or residential citizens.
2. What are the requirements to apply for life insurance?
Requirements for NRIs are similar to those for Indian citizens. NRIs need to submit a copy of their age proof, address proof, identity proof, passport, medical history, income proof, etc. for KYC purposes. If NRI provides the valid Form 10F and Tax Residency Certificate (TRC) then there will be no deduction of Tax at Source (TDS).
3. What are the different premium payment modes available that you can use?
There are many ways for NRIs to pay their life insurance policy premiums. NRIs can either pay from their regular bank’s debit or credit card in the currency of the country they are currently residing in. Alternatively, NRIs can also pay from their Non-Resident Ordinary (NRO) and Non-Resident External (NRE) accounts.
4. What is the sum assured for NRI term plans?
Sum assured for NRI term plans can vary based on the applicant’s requirements, but NRIs can get a sum assured of up to ₹ 2 crore with ICICI Prudential Life Insurance.
5. Are there any tax benefits** for NRIs?
Yes, as per Section 80C of the Income tax Act, 1961, NRIs can claim deduction up to ₹ 1,50,000 per annum for the premium paid towards their life insurance policy.
1. Can NRIs invest in life insurance policies?
Yes, NRIs can invest their money in life insurance. Life insurance policies in India can be bought by any person of Indian origin, regardless of whether they are NRIs or residential citizens.
2. What are the requirements to apply for life insurance?
Requirements for NRIs are similar to those for Indian citizens. NRIs need to submit a copy of their age proof, address proof, identity proof, passport, medical history, income proof, etc. for KYC purposes. If NRI provides the valid Form 10F and Tax Residency Certificate (TRC) then there will be no deduction of Tax at Source (TDS).
3. What are the different premium payment modes available that you can use?
There are many ways for NRIs to pay their life insurance policy premiums. NRIs can either pay from their regular bank’s debit or credit card in the currency of the country they are currently residing in. Alternatively, NRIs can also pay from their Non-Resident Ordinary (NRO) and Non-Resident External (NRE) accounts.
4. What is the sum assured for NRI term plans?
Sum assured for NRI term plans can vary based on the applicant’s requirements, but NRIs can get a sum assured of up to ₹ 2 crore with ICICI Prudential Life Insurance.
5. Are there any tax benefits** for NRIs?
Yes, as per Section 80C of the Income tax Act, 1961, NRIs can claim deduction up to ₹ 1,50,000 per annum for the premium paid towards their life insurance policy.
W/II/3622/2018-19
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