Yes. Most Indian insurers allow NRIs (including those in Singapore) to purchase life or term insurance policies, subject to fulfilling KYC and medical requirements.
Not always. Many insurers allow online application and tele/medical examination abroad. However, some insurers may require medical tests to be conducted at empaneled hospitals in India.
Premiums must be paid in Indian Rupees (INR). NRIs can pay using:
Yes. If you have taxable income in India, premiums qualify for deductions under:
Yes. NRIs can nominate parents, spouse, or children as beneficiaries. Claims are payable in India in INR.
Your policy continues seamlessly. You just need to update your address/contact details with the insurer.
Yes. Most Indian term insurance policies cover worldwide death, including accidental or natural death outside India. Some insurers may exclude high-risk countries—but Singapore is fully covered.
No. Life insurance is based on insurable interest. NRIs can insure their own life, but for parents, they can only be nominees/beneficiaries, not policyholders.
Insurers typically require blood tests, ECG, and health checkups (depending on age/sum assured). Reports from reputed Singapore hospitals may be accepted if attested.
Yes. Most insurers provide online servicing, e-statements, e-renewals, and claim tracking.
Some popular choices include:
