I recall my uncle from Bangalore, nominating my cousin, who now resides in Canada, for his life insurance policy. Initially, we were not sure about: Can NRI be a nominee? But after confirming with the insurer, it turned out to be completely valid. A non-resident Indian (NRI) can be considered as a nominee in a number of Indian financial and legal instruments, including joint funds, bank accounts, insurance policies, real estate, and even employee benefit plans.
Can NRI Be Nominee?
You can designate a Non-Resident Indian (NRI) as your nominee if you live in India. Legally, there is no restriction on nominating an NRI in most Indian financial products. However, before sending money abroad, you must first obtain RBI approval.
At the time of claim settlement, however, more documentation—particularly in relation to KYC, identity verification, and tax compliance—may be needed in the case of an NRI nominee. It's always a good idea to update nominee information and get clarification from financial or legal experts depending on the kind of asset.
I hope this helps!
Get Fast Approval and Quick Disbursement of NRI Home Loan with NoBroker NRI Services
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices

Intracity Shifting-Upto 25% Off
Check Prices

City Tempo-Upto 50% Off
Book Now
Related Questions
Leave an answer
You must login or register to add a new answer .
Can NRI Be a Nominee?
Bilal89
76 Views
1
15 days
2025-06-27T10:49:56+00:00 2025-06-27T10:50:15+00:00Comment
Share