NRI Eligibility for LIC Tech Term Plan

crazytiger290

I have a term plan with LIC for 5 years. I am an NRI and have been paying my premiums through NRE account. I have been told that I will not be able to continue this policy after 5 years as I will not have an NRE account then. Can I take a new policy with LIC when I become a resident? I will be an Indian resident then.

lazyduck

Yes, NRIs can take LIC Tech Term Plan. This is a special life insurance policy for people who are working in the technology sector. The policy provides coverage for death, total and permanent disability, and critical illness. The policy is available to people between the ages of 18 and 65.

samaksh_kumari

Yes, Non Resident Indians (NRIs) can take LIC Tech Term Plan. The LIC Tech term plan is a term insurance plan designed for those between the ages of 18 to 60. It provides a fixed amount of death benefit for a fixed period of time chosen by the policyholder.

Here are some points to note when considering LIC Tech term insurance plan for NRIs:

Eligibility: The LIC Tech Term Plan is open to all NRIs between the ages of 18 and 60.
Benefits: The policy provides a fixed amount of death benefit for a fixed period of time chosen by the policyholder.
Premium Payment Method: Premium payments can be made either half-yearly or yearly.
Tax Benefits: Tax benefits under the LIC Tech Term Plan and IT act, 1961 are available to NRIs.
Claim Settlement: LIC provides hassle-free claims settlement process and offers the highest degree of customer service.

For any further information, you may visit: https://www.licindia.in/products/term-insurance

lazysnake

Yes, Non-Resident Indians (NRIs) are eligible to buy LIC Tech term plan in India. The Tech term plan from LIC is a comprehensive non-linked, non-participating online term insurance plan specially designed for the tech-savvy customers. This plan offers special features such as high coverage at a much lower premium, death benefit along with optional cover for accidental death and disability, eligibility up to the age of 65 years, regular and annual premium payment option, and tax benefit under section 80C and section 10(10D) of the Indian Income Tax Act.

To avail this plan, NRIs can conveniently log in or register with their valid PAN Card Details or KYC documents such as valid passport, Overseas Citizen of India (OCI) card, Person of Indian Origin (PIO) card, etc. for customer identity verification. Moreover, the plan offers hassle-free online premium payments gateways like netbanking, debit card, and credit card.

Thus, NRIs can easily avail the LIC Tech term plan and can enjoy the benefits it offers.

blackladybug656

Yes, NRIs can take LIC Tech Term plan. It is a non-participating term insurance plan that provides life cover for a specific period of time. It is a simple, hassle-free insurance plan that offers a lump sum amount to your beneficiary in the event of your unfortunate demise during the policy term. The policy also comes with an attractive tax exemption, making it a beneficial financial product for NRIs.

Moreover, the plan can be tailored according to your needs. You can choose the policy term depending on your age and financial requirements. You can also enjoy the flexibility of the plan by customizing the Sum Assured and premium rate. The premiums are also affordable and you can choose the mode of premium payment as per your convenience.

Overall, LIC Tech Term Plan can be an ideal insurance plan for NRIs because it offers an attractive life cover along with multiple premium payment options and tax benefits.

blackbear704

Yes, Non-Resident Indians (NRIs) can take LIC Tech term plan. The policy provides NRI policyholders assurance for their loved ones in India and addresses the need for long term financial security. This plan is designed to offer financial protection to the family of the policyholder in case of his/her death. The plan offers life insurance coverage up to a maximum of Rs.1000 lakh, flexible premium paying options, guaranteed maturity benefits, loyalty additions, tax benefits, and an option to choose between monthly and annual premium payment modes. It also provides an option of accidental death benefit rider, which provides a lumpsum amount of sum assured in case of accidental death. Whether you are an NRI residing abroad or an Indian citizen residing in India, you can avail this policy for added protection.