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Here for General FAQ's |
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Insurance On The Lives
Of Non-Resident Indians
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Brief: |
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Nonresident Indian
has been defined as an individual being a citizen of
India who is not a resident. The NRIs can be categorized
into the following three categories: |
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Indian
citizens who stay abroad for employment or for
carrying on a business or Vocation or any other
purpose in circumstances indicating an indefinite
period of stay abroad. |
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Indian
citizens working abroad on assignment with foreign
government agencies like United Nations Organization
(UNO), including its affiliates, International
Monetary Fund (IMF), World Bank etc. |
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Officials
of Central and State Government and Public Sector
undertaking deputed abroad on temporary assignments
or posted to their offices, including Indian
diplomat missions, abroad. |
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Requirements: |
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Submission
of NRI-PIO-Foreigners questionnaire. |
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Photocopy of Passport and visiting card / salary
slip.
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Underwriting: |
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Sum
Assured is restricted to Rs. 25 lacs. (Higher
cover can be considered on merits) |
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Proposal
can be considered under all types of products. |
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Policy
will be issued in Indian rupees only. |
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Considered
under non-medical (upto premium 3 lakhs per
year) and (any amount for zero DB policies). |
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| Issue
of Indian Rupee Policies to persons of Indian origin (PIO) |
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Brief: |
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A PIO is a person:-
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Who
is a citizen of a foreign country
(other than Bangladesh, Pakistan or Srilanka
); who had at any time held an Indian
Passport; or |
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either
of whose parents or any of his grand
parents was a of citizen India; or |
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who
is the spouse of an Indian citizen or of a person
who was an Indian citizen (however we not consider
PIOs covered by this definition for insurance) |
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Premium
paid from |
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foreign currency funds abroad;
or |
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income earned in India; or |
| Resident
PIO |
repatriate superannuation/pension fund
in India |
| Non-resident
PIO |
paid out of their NRO accounts. |
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Requirements:
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*Copy
of PIO certificate is mandatory.
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Passport
as age proof is mandatory. |
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PIO
questionnaire. |
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Photocopy
of the common identification number
issued in the country of residence
e.g. Social security ID ( in USA), CPR ( in
gulf)etc. should be obtained. |
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Underwriting:
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Proposal
will be accepted from those PIO’s who
are residing in North America, U.K., Europe,
Australia and New Zealand. |
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Sum Assured is
restricted to Rs. 25 lakhs. |
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Policy will be
issued in Indian rupees only. |
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Considered
under non-medical (upto premium 3 lakhs per
year) and (any amount for zero DB policies). |
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*Special
provision:
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PIO card is not mandatory
for Zero DB plans.
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| To
Know More Click Here |
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