LIC offers its services to Non Resident Indians (NRI) as well as to people of Indian Origin(PIO) having foreign nationality and residing in Foreign countries.
- In Indian currency through its Offices in India
- In foreign currency through its various overseas branch offices and subsidiaries
- Existing policies completed before leaving India will continue as valid policy in India currency and premium can be continued through different modes listed below. NRI questionnaire is required to be submitted
| Frequently Asked Questions (FAQs) by NRIs |
| Financial Services for NRIs |
Insurance to Non-Resident Indians and Foreign national of India Origin.
Indian Currency policy:
Insurance to Non Resident Indians and Foreign Nationals of Indian Origin from any of our 2048 Branches in India in Indian Currency:
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 from any of our 2048 Branches in India.
We also entertain proposals for Life Insurance in Rupee currency from persons of Indian origin who have acquired foreign nationality / green card holders. ons.
- On their visit to India. All the formalities of proposal completion, medical examination reports/Special reports and Moral hazard report are required to be completed during their stay in India.
- From their present country of residence through Mail Order Business. All the formalities of proposal completion, obtaining medical & special reports etc are to be completed in the present country of residence. (Applicable to NRIs only)
(subject to some conditions)
WE OFFER YOU:
- Financial Security to you for covering RISK on your LIFE.
- Financial SECURITY to the couple.
- Plan to guarantee EDUCATION of your Children.
- Plan to provide for MARRIAGE of daughters.
- Plans to provide for PENSION in OLD AGE.
- Plans providing PERIODICAL PAYMENTS to meet special needs during LIFE TIME.
- Plans for Housing Loan from LIC Housing Finance Ltd. to build your DREAM HOUSE.
(subject to some conditions).
SELECTING A PLAN
To select a plan as per your needs, please choose from the "Schemes" and then from"Plans", on our WEBSITE.
HOW MUCH TO PAY?
Please click on "Premium Calculations" 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. Facility for payment of premium in Quarterly, Half yearly and Yearly modes are available.
HOW TO APPLY? ( For Mail Order From NRIs)
To obtain insurance on your own life, use "Proposal for Insurance on Own Life" which you can conveniently download right away from option "On Line Forms" For other plans, please download appropriate Proposal Form from the option "On Line Forms". Kindly complete the Non-Resident Questionnaire available at "On Line Forms".
COMPLETION OF POLICY ( For Mail Order From NRIs)
Please read carefully 'Completion of Proposal Form' and 'Medical Examination Procedure' for completion of documents request your Medical Examiner to send his Medical Report. Enclose copy of your PASSPORT towards age. 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 our Zonal / Divisional Offices, please select the option "Contact us" on this web site. You can get POSTAL ADDRESS from Zonal / Divisional Office.
REMITTANCE OF PREMIUM
- The Reserve Bank of India permits payment of premium in one of the following ways
By payment out of funds held in Non-Resident (External) or Foreign currency (Non- Resident ) Account with Bank in India. - 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.
- By cheque drawn on account maintained by resident parent or spouse of policyholder in Their own name or joint names with other close relatives.
- By the absolute Assignee in India wherever such policies have been absolutely
assigned To a resident in India. - By the employers in respect of policies issued to their employees who have been deputed Abroad by them .
- 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.
- 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.
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 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.
LIC Housing Finance Ltd. Offers specially designed Housing Loan Schemes to NRIs
LIC Housing Finance Ltd. Incorporated on 19th June, 1989 under the Companies Act, 1956, in which LIC of India holds 38.43 % of shares, offers Housing Loan to inviduals by providing finance to construct / purchase residential house/flat. Assistance is also provided for extension / rennovation of residential unit.
GRAH SHOBHA SCHEME: Loan for NRIs
PURPOSES:
Loans are available for
Construction of new house / flat
Purchase of an already built (even old) house / flat
Extension to a house / flat
For Further details visit the Website of LIC Housing Finance Ltd.: www.lichfl.com
LIC Mutual Fund Schemes: Investment Opportunity to NRIs.
LIC Mutual Fund set up in June, 1989 as a separate Trust by L.I.C of India aims at Providing accessibility of various investment media (shares, debentures, bonds, etc.) to all sections of Investors.
A Mutual Funds pools saving from numerous Investors (who buy Units) and invests them in diversified securities in the capital market in order to optimise the return, safety and liquidity for the maximum benefits to Investor.
HELPLINE:
Should you need any more information including Reserve Bank of India restrictions visit Website of LIC MUTUAL FUND: www.licmutual.com
Policies in Foreign Currency:
In India, we market Life Insurance policies in Rupee currency only. · Our foreign offices, viz. U.K., MAURITUS & FIJI issue policies in local currencies to LOCAL NRI.
| UNITED KINGDOM( In Sterling pound) York House, 13th Flr, Empire Way, Wembley, Middlesex, HA9-OPX, U.K. ISD Code No. 0044, Fax No. 20-8902-5281 Tel.: 20-8902-5294 E-mail: cmgr@liciuk.com E-Mail: enquiry@licuk.com Website: www.liciuk.com Mr. Saji Paul, Chief Manager, FIJI ( In Fijian Dollar) LICI House, Butt Street, GPO Box 266, Suva, Fiji. ISD Code No.679. Tel.:3314011 E-Mail : lici@connect.com.fj Website: www.licfiji.com. Mr. N. Krishnan, Chief Manager E-Mail: n.krishnan@licifiji.com.fj Lautoka Branch Office 5, Tui Street, Victoria Parade P.O.Box 789, Lautoka, Fiji. ISD Code No.679 Tel.: 6651923/ Fax No.6651984 E-Mail: liciltka@connect.com.fj MAURITIUS ( In Mauritius Rupee) LIC Centre, President John Kennedy Street, P.O.Box:310 Port Louis, Mauritius. ISD Code No.230 Tel.:2125316/2110465 E-Mail : liccmm@intnet.mu Website:licmauritius.intnet.mu T.C.Susheel Kumar, Chief Manager LIC Mauritius Offshore Ltd. Address: LIC Centre, Port Louis, Mauritius. KENYA Kenindia Assurance Co.Ltd., 10th floor, Kenindia House, P.O.Box No.30377, Nairobi, Kenya. ISD Code No.25420 Tel.: 333100 /Fax No.214662 E-mail: life@kenindia.com Mr. Dinesh Pant, Dy.G.M.(Life Oper) E-Mail: dineshpant@mailsvr.kenindia.com NEPAL (Nepal Rupee) Life Insurance Corporation (Nepal) Ltd., Block 'X', 2nd floor, Kathmandu Plaza, P.O.Box 21905, Kamaladi, Kathmandu, Nepal. ISD Code No.977-11 Tel.: 4229688/4243352 Fax.4229689 E-mail: lic@mos.com.np Website: www.licnepal.com A.P. Singh, G.M.& MD Mr. B.K. Unhelkar E-Mail: lic@licnepal.com GULF COUNTRIES ( In US Dollar) Life Insurance Corporation Saudi Indian Company for Co-operative Insurance, (SICCI) |
| Chief Agent’s Office: Bahrain International Agencies Co. Ltd., Ali Alwazzan Bldg., 1st floor, P.B.No.584, Manama, Kingdom of Bahrain. ISD 00973. Tel.No. 17210610 / Fax 17211577 E-mail : intcolic@batelco.com.bh |
| Branch Office: Dubai Kingstar Insurance Agencies LLC, P.O.Box 60793, Office 102, Dubai. UAE ISD 009714 Tel.No.3354858 / Fax 3354684 E-mail: mail@licinternationaluae.com |
| Chief Agent’s Office: Kuwait Warba Insurance Co. SAK, P.O.Box 24282, Safat-13103, Kuwait. ISD 00965. Tel.No.2445140 / Fax 2428775. E-mail: warba@kuwait.net |
| Broker's Office: Qatar Investec WLL, P.O.Box 3002, Doha, Qatar. ISD 00974. Tel.No.4325060 / Fax 4353560. E-mail: investec@qatar.net.qa |
| Chief Agent’s Office: Saudi Arabia Al Hamidi Contracting Est. Co., P.O. Box 130, Riyadh - 11411, Kingdom of Saudi Arabia. ISD 009661. Tel. 4880066 / Fax 4881012 Email:Licriyadh@rediffmail.com |
Branch Office: Oman |
LIC(Lanka) Ltd. |
