| |
| Life Insurance
Corporation cater to the life Insurance needs of Non-Resident Indians working Indians
working abroad thousands of miles away from the Homeland. |
| |
| 1. Eligibility Criteria |
| NRIs holding valid passport issued by the Govt. of India
and who are INDIAN NATIONAL Can take L.I.C. policies in Indian Rupee currency either |
| i. |
during their short visit to India from any of its 2048 branch offices
spread all over India OR |
| ii. |
Can avail insurance from country of his temporary residence on MAIL ORDER
BASIS. |
|
| |
| 2. |
Selecting a Plan |
|
To select a plan as per your needs, please choose from the
"Schemes" and then from "Plans", from our WEBSITE. |
|
|
|
|
| |
|
| 3. |
How much to Pay? |
|
Please click on to get
instalment premium for the selected plan at your age, for the sum to be assured and the
term for which policy is desired online from LIC's site. Facility for payment of premium
in Quarterly, Half yearly and Yearly modes are available. Enclose copy of your PASSPORT
towards age. |
|
|
| 4. |
How To Apply? |
|
To obtain insurance on your own life, use "Proposal
for Insurance on Own Life" which you can conveniently download right away from For other plans, please download appropriate Proposal Form
from . Kindly complete the Non-Resident Questionnaire available
at . |
|
|
| 5. |
Completion of Policy |
|
Please read carefully 'Completion of Proposal Form' and
'Medical Examination Procedure' for completion of documents request your Medical Examiner
to send his Medical Report. Other Proposal papers and Full deposit towards the First
Premium by AIR MAIL directly to the Branch / Divisional Office convenient to you for
underwriting and completion of policy. Please hand-over a Stamped envelope with the
address of the office of the Corporation to the Doctor for Dispatching papers. |
|
For Email address of L. I. C. Zonal / Divisional Offices,
please select the option . You can get POSTAL ADDRESS from Zonal / Divisional
Office. |
|
|
| 6. |
Remittance of Premium |
|
The Reserve Bank of India permits payment of premium in one
of the following ways : |
|
i. |
By direct remmitance from abroad through banking channels in approved
manner (preferably by Indian Rupee Demand Drafts drawn in favour of L.I.C. Of India) or by
remittance through postal channels like Foreign Money Order |
|
ii. |
By payment out of funds held in Non-Resident (External) or Foreign currency
(Non- Resident ) Account with Bank in India. |
|
iii. |
By cheques drawn by non-Resident policy holder on Bank Accounts held in
India in his Own name (either solely or jointly) with another member of the family)
whether or not the Account has been designated as non-resident. |
|
iv. |
By cheque drawn on account maintained by resident parent or spouse of
policyholder in their own name or joint names with other close relatives. |
|
v. |
By the absolute Assignee in India wherever such policies have been
absolutely assigned To a resident in India. |
|
vi. |
By the employers in respect of policies issued to their employees who have
been deputed Abroad by them |
|
vii. |
Premiums can be paid in cash by a resident parent or spouse of the
non-resident Policyholder subject to his/her submitting a letter stating the relationship
with the Policyholder. |
|
viii. |
Premiums due on policies issued to Indian students who have gone
abroad for higher Studies may be collected in Rupees out of the Resident Bank Account in
India or any of their representatives in India by cash or cheques. |
|
|
|
| 7. |
Export of Policy |
|
As per the present rules, policy cannot be exported out of
India. It can be retained in L.I.C. Office, to be handed over to you, when you visit India
next or can be sent to Resident of India to be named by you or to your banker for safe
custody. |
|
|
| 8. |
Settlement of Claims |
|
Claims of any nature arising under the policy will be
settled in Indian currency in India. The payment of policy moneys in foreign currency can
be made on getting approval from Reserve Bank of India. Present Exchange Control
Regulations, permit policy moneys Payment in foreign currency proportionate to the
premiums paid in foreign currency by direct Remittance or from the Non Resident (External)
Account or Foreign currency Non Resident Account with a Bank in India. |
|
|
|
|
Note: |
|
To ensure and enhance the quality of life of people through
financial security by providing Life Insurance products and services of high
quality, and by providing resources for economic development. |
|
