LIC for NRIs – A Complete 2025 Guide to Buying LIC Policy from Abroad
Are you an NRI looking to invest in LIC policies from outside India? This guide will walk you through everything you need to know – from eligibility and payment methods to choosing the right plan and making claims.
What is an LIC Policy for NRIs?
LIC (Life Insurance Corporation of India) offers a wide range of policies that are available not just for Indian residents but also for NRIs (Non-Resident Indians), OCIs (Overseas Citizens of India), and PIOs (Persons of Indian Origin). These plans are designed to help NRIs build long-term financial security while staying connected to their roots in India.
Can NRIs Buy LIC Policies from Abroad?
Yes, NRIs can buy LIC policies from abroad. You do not need to be physically present in India. LIC has provisions to issue policies through video KYC, authorized representatives, or directly during visits to India.
You must:
- Hold an Indian passport or have PIO/OCI status
- Be medically eligible (medical check-up may be required)
- Provide valid overseas address and documents
Who Is Eligible?
- NRIs between the age of 18–60
- Income must be verifiable
- Documents required: Passport copy, Visa, Proof of residence abroad, PAN card
Top LIC Plans for NRIs in 2025
Here are the most popular and NRI-friendly LIC plans:
| LIC Plan | Key Benefit | Suitability |
|---|---|---|
| LIC Nivesh Plus | Market-linked returns with insurance cover | NRIs looking for growth + protection |
| LIC Jeevan Labh | Limited premium, long-term returns | Ideal for conservative investors |
| LIC Jeevan Umang | Life-long cover + annual income | Good for legacy planning |
| LIC Tech Term | High cover, low premium (online only) | Pure protection seekers |
Premium Payment Options for NRIs
NRIs can pay their LIC premiums through:
- NRE/NRO bank account
- International debit/credit cards
- Net banking from overseas banks (if supported)
Make sure the payment is compliant with FEMA regulations.
Taxation for NRIs
Under Indian Income Tax Act:
- Section 80C: You can claim deductions for premium paid (if you have taxable income in India)
- Section 10(10D): Maturity amount is tax-free (if policy meets conditions)
- Taxation in the country of residence may differ. Always consult a local tax advisor.
LIC Nominee Rules for NRIs
You can nominate:
- Family members in India or abroad
- Parents living in India
Make sure nomination is updated in the policy document and acknowledged by LIC.
What Happens If You Return to India?
Your LIC policy continues as is. You may:
- Update your residential status with LIC
- Switch premium payment mode to domestic account
- Nominee, tax, and service changes may apply
How to Apply – Step by Step
- Choose the right LIC plan (we can help)
- Submit KYC and documents digitally or in-person
- Complete medical formalities (if needed)
- Pay first premium
- Receive soft/hard copy of policy bond
Why Choose InsuringGurgaon.com, Trusted Gurgaon Advisor for NRI LIC Plans?
- 10+ years experience serving 100+ NRI families
- Based in Gurgaon, available on WhatsApp and email
- Support during purchase, premium, and maturity
“I was in Dubai and got my LIC policy done smoothly – thanks to InsuringGurgaon.com!” – Ravi B., UAE
Still Confused? Let’s Talk
Buying LIC as an NRI can be simple – if you have the right guide.
Chat with Neetu Jain at InsuringGurgaon.com – your trusted LIC advisor for NRIs.
Contact Us | 📧 [email protected] | 📞 +91 9891420503
Related Guides for NRIs
- Can NRIs Buy LIC Policy from Abroad?
- 5 Best LIC Policies for NRIs in 2025
- LIC Nivesh Plus for NRIs – Is It Worth It?
- LIC Premium Payment Options for NRIs
- LIC Tax Benefits for NRIs
- LIC Nominee Rules for NRI Policyholders
- LIC Claim Process for NRIs
- What Happens to LIC Policy When NRI Returns to India
- How NRIs Can Buy LIC Policy for Parents Living in India
- Top 20 NRI LIC FAQs