Curious about Is LIC policy valid for NRI? LIC policies remain valid for NRIs, whether purchased before or after becoming non-resident, subject to certain conditions. LIC defines Non-Resident Indians (NRIs
)
as Indian citizens who temporarily reside abroad not green card or foreign passport holders while OCI/PIOs/green card holders are treated differently. If you already held a LIC policy as a resident, it continues in Indian rupees even after you become an NRI.
Can NRI Take Insurance Policy?
NRIs can buy new LIC policies in India either during a visit (performing all formalities in India) or via “Mail Order Business” from abroad subject to minimum sum assured (Rs. 10 lakh; Rs. 2 lakh per some sources), capped maximum, restricted plan riders, term rider limits, and age criteria.
Some advanced facilities permit video-medical and agent visits abroad.
Premiums on existing and new policies can be paid via NRE/NRO/FNRE accounts, or through foreign remittances. However, only payments from NRO (or via Rupee account) allow proceeds to be repatriated appropriately.
Claims of death or maturity are paid in India in Indian currency to your registered NRI account. Funds in NRE/FNRE/NRO accounts follow RBI repatriation rules.
For specific plan issuance or purchase, including detailed eligibility or rider availability, it is best to refer to LIC’s NRI Centre or consult your servicing branch.
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Is LIC Policy Valid For NRI?
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2025-06-28T14:51:00+00:00 2025-06-28T14:51:01+00:00Comment
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