What is a Term Insurance for NRI?
Term insurance for NRI is an ideal insurance policy that provides death benefits to both Indian citizens and NRIs in case of the unfortunate and untimely death of the policyholder. Non-Resident Indians or NRIs need a few verification documents such as address verification, income proof, etc., when they plan to invest in the term insurance for NRI. One of the most significant advantages of term insurance for NRI is that NRIs can apply for this policy online, at the comfort of their homes and can save themselves from the hassle of visiting the office multiple times.
Few Benefits of Term Insurance for NRI
1. Financial Security of Loved Ones
NRIs can financially secure their loved ones by investing in term insurance for NRI and can be worry-free in case of financial restrictions due to unforeseen mishaps and their absence. No one knows when an uncertain mishap might occur. Therefore, having financial stability is vital in today's time.
2. Customisable Sum Assured
It is essential to go for a sum assured that is well-aligned with you and your loved ones' dreams and financial requirements. While investing in term insurance for NRI, you can customise the sum assured that suits you and your family the best.
3. Quick Process
While applying for term insurance for NRI, NRIs have to provide a few documents such as passport, address proof, income proof, etc. You should choose an insurance company that provides a hassle-free documentation process.
4. Easy Payment of Premiums
To ensure that NRIs do not face any hassle while paying the premiums for term insurance for NRI, the insurance companies ensures that NRIs have a smooth process for the same. NRIs do not necessarily have to pay for premiums in INR and can pay with foreign currencies as well. Moreover, you can enjoy flexible payment of premiums that suits you the best.
Investing in term insurance for NRI is ideal for your family's financial security in your absence. It ensures that they do not face any financial burden while on their way to achieving their dreams.