NRI Insurance Guide: Which LIC Plans Can NRIs Buy in 2026?

Millions of Indians work abroad. Many want to maintain LIC policies for family protection in India. Here is everything NRIs need to know.

## Can NRIs Buy LIC Policies?

Yes. The simplest route: **buy while physically visiting India.** If you are a resident of India at the time of signing the proposal, most LIC plans are available without special procedures.

## Plans Available to NRIs

Most savings and endowment plans are available. Popular NRI choices: - **LIC Jeevan Amar:** Term plan for family protection in India - **LIC Jeevan Labh:** High-bonus limited-pay savings plan - **LIC Jeevan Anand:** Whole life + endowment - **LIC New Jeevan Shanti:** Pension annuity for returning NRIs - **LIC ULIPs (Index Plus, SIIP):** Market-linked growth

## Premium Payment Options

1. **NRE Account (recommended):** Pay in INR from NRE account; repatriation is free; qualifies for 80C if filing Indian taxes 2. **NRO Account:** Can pay premiums; repatriation of maturity proceeds has some limits 3. **During India visit:** Simply pay at branch or online like a resident

## Tax Treatment for NRIs

- **80C deduction:** Available if you file Indian income tax returns with Indian-source income - **Maturity/death benefit:** Tax-free under Section 10(10D) if annual premium is less than 10% of sum assured — same rules as residents - **Repatriation:** Maturity amount from a policy purchased when you were resident in India can be freely sent abroad

## FEMA Compliance

Policies purchased as NRI (from abroad) fall under FEMA regulations. Stick to policies purchased during India visits to avoid FEMA compliance complexity.

## My Recommendation for NRIs

Visit India once a year? Take a term plan (Jeevan Amar, Rs 1 crore) for your family in India + one savings plan (Jeevan Labh) for a corpus that matures when you return.

Call Ajay Kumar Poddar at 9415313434 — we serve NRI clients from Gorakhpur's diaspora in the Gulf, USA, and UK. All documentation assistance provided.