→ A non-resident Indian is a citizen of India temporarily residing in the country of his/her present residence and holding a valid passport issued by the Government of India.
→ NRI should not be a green card holder. He/She should not have applied for or planning to apply in the near future for acquiring citizenship of his /her present country of residence or any other country.
→ It is clarified that People of Indian Origin having foreign nationality and residing in foreign countries (PIO) are not considered as NRIs for the purpose of allowing insurance. Rules applicable to PIOs are given in the last paragraph.
→ Policies are issued in Indian Rupees or in US Dollar thru GIFT City.
→ NRIs are allowed insurance on their visit to India or on digital platform where ever applicable.
→ Minimum Sum Assured allowed would be Rs. 2 lakhs and maximum would depend on conditions of insurability. However, under mail order business, maximum sum assured would be limited to Rs. One Crore only.
→ Personal Financial Questionnaire (PFQ) and /or Proof of income in the form of income tax returns, copy of employment contract where emoluments are mentioned, Certificate from Chartered Accountant, etc. would be required if the sum assured is high or if the proposal is submitted through Mail Order Business.
→ All types of plans are allowed subject to certain conditions.
