Ramesh Chordia's - InsureGain.com  
Username
Password
Forgot Password . Register Now
 
PRODUCT INFO

Browse through the various insurance and investment products.

Click here

NRI Insurance
Any Person of Indian origin living anywhere in world can buy insurance from LIC agent

LIM : LIFE INSURANCE MEMORANDOM
The memorandum of exchange control regulations relating to life insurance in India -LIM-contains the procedure of issue of life insurance policies Rs. and foreign currency to NRI.' s. Collection of premium, settlement of claims and allied maters.
The memorandum is issued by R.B.I

In the revised LIM the proceeds of policies denominated in foreign currency or the rupee policies for which Premia are paid in foreign currency or out of NRE / FCNR accounts are now permitted to be credited to NRE/FCNR account of non-resident without prior approval of reserve bank

PROCEDURE TO GET INSURED
Indian National Residing Abroad (with Indian Passport)
Indian with Foreign Nationality


Indian National Residing Abroad (with Indian Passport)
Insurance while N.R.I. on visit India
Insurance while NR.I. Residing Abroad



Insurance while NRI on visit to India
Forms to be filled up Proposal form
No Question should remain unanswered
N.R.I. Questionnaire (Form C)
Proof of Income Three (3) years of Income Tax Statement with computation of Income
Medical Examination Medical Examination of Females must be done by Lady Doctor
Medical Examination of Male must be done by Male Doctor only
Payment of Premium By Cheque or DD (for out station)
In Indian or Foreign Currency
 
Insurance while NRI is Abroad
Forms to be filled up Proposal form
N.R.I. Questionnaire (Form C)
Proof of Income Income Tax Return for last 3 years
Medical Examination By Local Doctor details on LIC's pre-printed form or all its contents on Doctor's Letter Head. This will be sent to you by Mailer.
Payment of Premium Business through Mail Order Only.
Signature in Proposal Form
Signature on Form should be witnessed by a designated official of Local Indian Embassy or Indian Diplomatic Representative.
If no Diplomatic Representative available locally, then witness by a
NOTARY PUBLIC. or
BY JUSTICE OF PEACE or
BY MEDICAL EXAMINER
Witness for signature Xerox copy of passport should be attested i.e. signed under the witnessing official's official seal. (Medical Examiner may also verify)

Witness to be done only on verification of passport

The attested copy of 1st page of passport to be submitted with proposal papers (form + NRI Questionnaire)

Students proposal can be witnessed by Dean / Principal or College or Medical Examiner.

WITNESS SHOULD PUT HIS OFFICIAL SEAL BELOW HIS SIGNATURE
Xerox copy of Passport should be attested Xerox copy of passport should be attested i.e. signed under the witnessing official's official seal. (Medical Examiner may also verify)
Medical Examiner's Signature Proposal Form (filled up) + NRI Questionnaire (Form C) + Passport(issued by Govt. of India) to be handed over to the Medical Examiner.

Proposer and Doctor to sign on the Proposal form space provided for.
Fees for Medical Examination
(a) ROUTINE MEDICAL REPORT
Rs.200/-
OR
FEES PAID
OR
Rs.4 (Four) PER 1000 of Sum Assured
Whichever is less

(b) Routine Medical Report + Special Report
Fees Paid up
OR
Rs.4 (Four) per 1000 Sum Assured whichever is less.

Medical fees to be paid by the pro poser and obtain a receipt of Doctor.
The receipt should be sent to the Branch Office.This amount will be credited to towards premium payable by the proposer.
Xerox copy of Passport should be attested Xerox copy of passport should be attested i.e. signed under the witnessing official's official seal. (Medical Examiner may also verify)





Foreign Nationality
1. No Mail Order Business. Insurance will be given during visit to India

2. Indian Rupee Currency policy will be issued.( May be allowed to re mitt abroad if if premiums paid in Foreign Currency as per Rules)

3. Maximum Sum Assured of Rs.50 Lakh Allowed.

4. Medical Report Compulsory

5. Joint Life Policy, Health Insurance and few other plans plans cannot be given

6. Plans Allowed
       Endowment Plan
       Money Back (for 20, 25 years)
       Jeevan Samridhi

7. As per revised LIM, Policy can be exported out of India
   
This website is maximized to perform best with Internet Explorer Browser set to 800 x 600