All You Need to Know about Term Insurance for NRI

Term insurance for NRIs (non-resident Indians) in the UAE serves as a crucial financial safety net. It ensures that NRIs’ families are protected if the insured unfortunately passes away. 

Term plans provide a high sum assured at affordable premiums. This makes them an attractive option if you’re an NRI looking to secure your family's future at affordable rates. 

Additionally, term insurance for NRIs offers peace of mind by covering outstanding debts, mortgages, and other liabilities so that your loved ones are not burdened financially. With the flexibility to choose the policy term and various add-on riders, you can tailor these plans to meet your specific needs and long-term financial goals.Read on to know more about term insurance for NRIs!

Why Do NRIs Need Term Insurance in the UAE?

Here are the reasons why term insurance for NRI is important —

• Financially secure your family’s future with good coverage 
• Affordable premiums 
• Helps your family maintain their lifestyle even amidst unfortunate circumstances
• The death benefit can be used to pay off outstanding debts, cover a child’s future education, life milestones, and more
• Customisable NRI term policies — add riders like critical illness, disability or premium waiver, and more

How Does Term Insurance for NRI Work?

Term insurance, whether taken for an NRI or a UAE national, works in a pretty standard way. As a policyholder, you pay premiums to an insurance company. In case of your unfortunate demise while the policy is active, the insurer pays a sum assured to your beneficiaries.

With this death benefit of term insurance for NRI, your family can meet their daily requirements, debt obligations, children’s educational needs, and more. 

Best NRI Term Insurance in the UAE

Tabled below are the best term insurance plans for NRIs —

Why Buy a Term Plan for NRI from Policybazaar.ae?

Policybazaar.ae brings the best term insurance for NRIs to you — all without any need to go out and visit multiple offices or websites. Here’s what you can get when you buy a term policy for NRIs from this site —

• High coverage so that your family has financial coverage even in unfortunate scenarios
• Top term insurance plans for NRIs from the best companies — all in one place
• Attractive premiums — get cover of AED 1 million starting at just AED 50 per month* 
• Incredible discounts of up to 35%* 
• Expert assistance during the NRI term plan application process 

*T&Cs apply

Things to Consider When Buying the Best Term Insurance Policy for NRI

Here are some points to consider when buying a term plan for NRI —

• Compare Plans — Check out options from multiple insurance providers to find the best fit.
• Check Claim Settlement Ratio (CSR) — This indicates the number of claims settled compared to the total claims received. CSR can help you check an insurance company’s reliability.
• Understand Your Requirements — Consider your current income, liabilities, family’s needs, and plans when selecting a term policy for NRI.
• Ease of Claim Settlement — Choose a company with a simple claim process to avoid stress during emergencies.
• Look for Riders/Add-Ons — Enhance your coverage with additional features at nominal costs for better protection.