Close Button Close Button
X
NRI Services Helpline

Calling FromPhone Number
Calling us from INDIA18002097272 (Toll Free)
Rest of the World+912067871700
(Call charges apply)

Term Insurance for NRIs in UAE

The United Arab Emirates has long been a big attraction not just as a tourist spot but also to migrants, especially from India. Excellent civic amenities, infrastructure, standard of living and high-quality healthcare services make the UAE a major attraction. Read More

The Golden Visa programme, expanded in 2022 to cover more professionals, skilled workers, scientists, and researchers, has made the UAE more attractive to a growing number of wealthy Indians. This long-term residence visa lets foreign talent live, work, or study in the UAE with a range of exclusive benefits.1


For many NRIs choosing the UAE as their destination, leaving home means being away from their loved ones. The physical distance, however, does not mean leaving financial security behind. In such a scenario, affordable premiums, high coverage, and customised policies make term plans a cost-effective decision. It is estimated that buying term plans in India can be almost 30% to 50% cheaper for NRIs in the UAE.2 Read Less

NRI Couples
Secure your Family's Financial Future even from miles away!
calender_icon
I agree and consent to the Terms & Conditions, Privacy Policy

* T&C Apply 

Gender

Tobacco/Nicotine

Are you diabetic?

I agree and consent to the Terms & Conditions, Privacy Policy

* T&C Apply 

Customer rating
Rated by customers
Writer shruti
Written ByShruti Gujarathi
AboutShruti Gujarathi
LinkedIn Icon
Shruti Gujarathi has 5 years of experience in the BFSI sector, and as Manager- Digital Marketing at Bajaj Allianz Life Insurance, manages digital and content marketing. She has had hands-on experience in content strategy, performance marketing and Strategic Alliances over a career spanning 10 years.
Rituraj Singh
Reviewed ByRituraj Singh
AboutRituraj Singh
LinkedIn Icon
Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 08th June 2025
Modified on: 11th June 2025
Reading Time: 20 Mins
Share

Term plans for NRIs in the UAE can suit specific needs. Whether you are buying a life insurance planfor the first time or it is an additional tool to safeguard your family’s future, a term plan can easily fit in. It can be quite helpful for your family in covering the financial obligations that may arise with your unfortunate absence. Read on to know and understand how term insurance for NRIs in UAE can be a wise financial decision.

Types of Term Insurance Plans Available to the NRIs of the UAE

Be it India or abroad, different individuals have different situations and different needs. With term plans, NRIs in the UAE get the option to choose from several plan options. Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCI) can purchase life insurance to ensure their loved ones  stay financially secure. Make sure you understand the different types of term plans so that you can choose the right one.


The following types of plans are available:4


  1. Level term plans – these are the basic term plans where the sum assured remains constant throughout the policy term.
  2. Increasing term plans – under these plans, the sum assured increases during the policy term either by a specified percentage or by a specific amount.
  3. Decreasing term plans – under these plans, the sum assured reduces during the policy term. These plans are usually issued with loans wherein the decreasing sum assured corresponds to the decreasing value of the outstanding loan amount.
  4. Term plans with return of premium – normal term insurance plans usually do not pay any benefit if the term expires and the life assured is alive. However, under these plans, the premiums paid during the policy term are refunded back on maturity. 

How does term insurance for NRIs in the UAE work?

Be it India or abroad, different individuals have different situations and different needs. With term plans, NRIs in the UAE get the option to choose from several plan options. Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCI) can purchase life insurance to ensure their loved ones stay financially secure. Make sure you understand the different types of term plans so that you can choose the right one.


The following types of plans are available:4


The way a term plan works for NRIs in the UAE is quite similar to how it works in India. However, some of these plans can offer you features that are specifically suited to your needs as an NRI in the UAE. Keep in mind that when you choose term insurance, certain components go into the making of a plan. These include:


  1. The sum assured
  2. Policy term
  3. Premium paying term
  4. Premium paying frequency
  5. Optional riders, if any

Based on these details, your age and other risk factors, the premium is determined. You pay the premium over the chosen premium paying term and in the selected frequency. NRIs in the UAE can pay the premiums through direct bank transfers using NRE or NRO bank accounts or in the form of Swift Transactions through Overseas Bank Accounts.


During the policy tenure, if the life assured passes away, the death benefit is paid. On the other hand, if the policy matures and the life assured is alive, no maturity benefit is paid. However, if you have opted for the return of premium term plan, your premiums would be refunded on maturity.


Reasons to Buy Term Insurance for NRIs in the UAE

Be it India or abroad, different individuals have different situations and different needs. With term plans, NRIs in the UAE get the option to choose from several plan options. Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCI) can purchase life insurance to ensure their loved ones stay financially secure. Make sure you understand the different types of term plans so that you can choose the right one.


The following types of plans are available:4


As an NRI, you would want to safeguard the future of your loved ones, whether they are in India or abroad with you. Multiple reasons drive the interest of NRIs, especially the ones in the UAE, in buying term insurance plans in India. Some of these may be:


  • Tax Benefits6


    Non-resident Indians, like Indian residents, are eligible for certain tax benefits for purchasing a term insurance plan. Section 80C of the Income Tax Act of 1961 provides a tax deduction of up to ₹1.5 lakhs to the NRIs under old tax regime. However, the premium of the policy must not cross 10% of the sum assured amount.


  • The Benefit of the Grace Period5


    To continue availing the coverage of a term insurance policy, it is compulsory to renew the policy before its expiry. If the policy crosses the expiry date without renewal, it lapses. However, NRIs have a grace period of 15 days, even after expiry, to get the policy renewed without getting terminated.


  • Pay From Anywhere5


    The necessary payments for the term insurance can be made from anywhere using internet banking. All you need is an approved bank account that permits internet banking.


  • Coverage Guaranteed,7


    Once an NRI has purchased a term insurance policy, the plan provides coverage irrespective of the country where the life assured resides.


  • GST Exemptions3


    As an NRI, if you plan to purchase a term insurance policy in India, you may avail yourself of a GST exemption. Those who purchase term insurance through their NRE accounts are eligible to get the GST exemption of 18%.


Features of Term Insurance for NRIs

Some of the salient features of term plans  are as follows –


  1. NRIs can choose an optimal coverage based on their needs.
  2. The premium that you pay depends on several factors, including the coverage you opt for, your age, medical history, add-ons that you choose, and country of residence.
  3. A long-term policy tenure is allowed for maximum protection. Some term plans might also offer the whole life feature wherein the coverage runs up to 99 or 100 years of age.
  4. You can choose to pay the premium regularly, for a limited tenure or in one lump sum.
  5. The available premium payment frequency includes annual, monthly, quarterly, or half-yearly.
  6. Optional riders are available at an additional premium and can be added to the policy either at the time of purchase or on subsequent renewals.
  7. Some term plans might also allow you to increase the sum assured on specific events like marriage and childbirth. This helps you enhance the coverage to meet the increased financial responsibilities[6].

Documents required for term insurance plan

Most of the documents required for buying a term insurance plan are similar for resident Indians and NRIs. However, some additional documents might be needed for NRIs. The common documents include the following –

 

  1. Completely filled Proposal form
  2. Passport copy
  3. Age proof, Valid KYC documents, PAN/Form 60
  4. NRI & Foreign Travel Questionnaire
  5. Tax Identification Number (TIN) of the country of residence or equivalent details
  6. NRE bank statements & standard income documents are subject to the requirement
  7. Supporting documents in case of the GST waiver benefit are required.
  8. Residential ID is mandatory for the residents of the UAE.

 

Note: Individuals and businesses earning income from abroad can claim tax relief under the Double Taxation Avoidance Agreement (DTAA). For this, you need to fill in Form 10F and submit it with a Tax Residency Certificate.

Eligibility criteria for buying term insurance plan for NRIs in India

NRIs have to qualify for the eligibility parameters specified by the insurance company to buy a term insurance plan in India. Some of the common eligibility parameters for buying a term insurance plan are as follows –


  1. Age – There is a minimum and maximum age bracket for buying term plans. NRIs falling within this bracket can buy the policy.
  2. Income – NRIs should have a steady source of income to pay the premium of the policy.

How do you purchase term insurance for NRIs in India?

The past few years have transformed the insurance industry in the country. From the way you buy life insurance to how it can be claimed, everything has been simplified. NRIs who live in the UAE have the option to buy a term insurance policy in India either online or offline. They will have to send the relevant documents through mail to the insurance company,


They can undergo medical tests at the available medical facility in the UAE and share the reports over mail, or undergo telemedical as required by the insurer. Physical and video options are allowed in India as well as outside India.


To pay the premium, you can make the payment in cash, cheque or demand draft when you are in India. Alternatively, you can also make online payments to buy the plan. The premium has to be paid in Indian Rupee (INR). As such, you should have an NRO or NRE Bank Account in India for premium payments.

Why Bajaj Allianz Life Insurance ?

Bajaj Allianz Life, one of India's leading Private Life Insurers, is committed to offering value-packed and innovative products to help you achieve your Life Goals.

99.29%

Claim Settlement Ratio~

Claim Settlement Ratio
1 Day

Get 1 Day Claim Approval%

One Day Claim Approval
AAA

Stable Rating by CARE$$

CARE Stable Rating
₹1,23,734 Cr

Assets Under Management (AUM)***

Assets Under Management (AUM)
3.85 Cr

Number of Lives Covered##

Number of Lives Covered
359%

Solvency Ratio of 359%^^^

Solvency Ratio
Claim Settlement Ratio 2024-25

 Disclaimer:~Individual Death Claim Settlement Ratio for FY 2024-2025 | %99.29% of non-investigative individual claims approved in one working day for FY 2024-25. 1 day is counted from date of intimation of claim before 3 PM on a working day (excluding Non-NAV days for ULIP) at Bajaj Allianz Life offices. 96% of non - investigative claims notified were processed within one day in FY’25 | $$For details refer to press release published by CARE | ***All figures as on 31 March, 2025 | ^^^Solvency ratio 359% as at 31 March 2025 against IRDAI mandated 150% | ##Individual and group, as on 31 March, 2025.

FAQs on Term Insurance for NRIs in India

1. Why has the UAE become a top choice for rich Indians?

Plus Symbol

There are several reasons why more and more people are choosing to shift base to the UAE. The topmost reasons may be to hedge the tax liability of India, access a broader overseas market suitable for business, grow of business, etc.1

2. How can NRIs in the UAE purchase term insurance?

Plus Symbol

For NRIs in India, there are two ways to purchase a term plan insurance policy:5

  • NRIs can simply purchase a plan during their visit to India
  • If not in India, NRIs may purchase term insurance through mail order business.

3. Do NRIs living in the UAE get tax benefits on term insurance?

Plus Symbol

Yes, Section 80C of the Income Tax Act of 1961 provides tax deductions of up to ₹1.5 lakhs for premiums paid against a term insurance policy. 6

4. Do I have to undergo a medical examination during policy revival?

Plus Symbol

Yes, like others, NRIs in UAE need to undergo a medical examination at the time of policy renewal to adjust the premium accordingly. 5

Term Insurance Guide

  • Videos

  • Articles

  • Calculators

  • Podcasts

Understanding Riders: How It Impacts Your Coverage

Cracking the Code: Understanding Annualized Premium in Insurance

The claim settlement ratio is the percentage of life insurance claims a company has paid out compared to the total claims received.

Understanding #lifeinsurance terms may be challenging. As part of Bajaj Allianz Life’s #LifeInsuranceMadeEasy series we are simplifying industry terminology

Watch this video from the #LifeInsuranceMadeEasy series, a customer education initiative by Bajaj Allianz Life to know how Autopay simplifies the premium

#Lifeinsurance terms got you mixed-up? As part of #LifeInsuranceMadeEasy series, Bajaj Allianz Life’s is helping to simplify industry terminologies

The top priority of every family man is the well-being of his family. Over the years, he strives hard to meet every life goal of his family.

A term insurance policy is a life insurance plan which is intended to cover the risk of premature death or demise of the life assured, during the policy tenure. The term plan

Life may be great for the most part, but at some point, uncertainties and unexpected events may happen. They may be sudden job losses, pay cuts,

At times of financial distress and uncertainty, it is great relief to have a safety net to help you cover for unexpected expenses. One of the most

An easy to use Term Insurance calculator to determine the right life cover amount as per your needs.

Know your income tax based on the taxable income and explore Life Insurance plans to save more tax.

Get an estimate of how much your investment will grow over a period of time.

Answer a few simple questions to know estimated corpus you will have to fulfil your Life Goals.

With the Underinsurance Calculator, check if your Life Cover is atleast 10x of your Annual Income.

Answer a few easy questions to calculate your Fixed Deposit Returns.

Calculate your NPS returns effortlessly with our simple to use NPS Calculator.

Plan your investments effortlessly and achieve your financial goals with our easy-to-use SIP Calculator.

Answer a few simple questions to know how prepared you are for your retirement.

Answer a few simple questions to know the corpus required to fulfil your Life Goal.

A simple to use and comprehensive tool to plan for your child's education.

Use this calculator to know how savings from regular expenses can help you achieve your Life Goals.

Get to know your Financial Fitness Score by answering few simple questions.

Use our immunity calculator to find out your immunity score in just a few clicks!

Know the amount to invest today to have the corpus to accomplish your Life Goals tomorrow.

A simple to use calculator that helps you plan for fulfilling your Child's Life Goals.

Calculate the amount you need to invest today to accomplish your retirement life goals.

Body Mass Index (BMI) is a measure to understand whether your body weight is healthy as per your height.

ft. Mr. Sameer Joshi, Chief Agency Officer, discussing how to manage finances for financial freedom.

Mr. Sampath Reddy, Chief Investment Officer, shares his views on the Union Budget 2023.

Mr. Dheeraj Sehgal, CDO – IB & Mr. Jatin Popat, WillJini discuss Will Writing & Succession Planning.

ft. Mr. Ajay Rajvanshi, Sr. EVP, as he shares his views on building wealth with SISO.

Mr. Rajesh Krishnan, COO, discusses immense investment potential of India for NRIs.

left click
right click
Close Button

Customer Reviews

Customer Rating
4.5
4.5
Reviews by 5009 customers
Rate & Review

(Rate your experience on the website)

Please select the rating to proceed

Tell us how was your experience ?

1. Easily found what I needed

2. Information provided are clear and easy to understand

3. Look and feel of the website is attractive

4. Easy to download all relevant documents

5. User friendly website

6. Write Your Review

500 characters remaining
I agree and consent to the Terms & Conditions, Privacy Policy

Customer Speaks

Happy with the services
I have invested in various products of Bajaj Allianz Life Insurance - I am happy with the services, returns and diversified product portfolio.
Rashmi Bhavnani
5
Satisfied, Trust
I am a happy customer who is satisfied with the after sales service. I have full trust in Bajaj Allianz Life Insurance Company.
Shrikant A Karande
5
Happy with the returns
I was introduced by my advisor to invest in Bajaj Allianz Life Insurance .I have invested in the same and am happy with the returns and services.
Kavita Goplani
5
Very Happy
I am a 7 year old customer of Bajaj Allianz Life Insurance and very happy about the services.
Dhruv Soni
5
left click
right click
Bajaj Allianz Life Insurance Security
Bajaj Allianz Life is a trusted insurance partner Reviewed by Life Insurance Experts
Bajaj Allianz Life is a trusted insurance partner

At Bajaj Allianz Life, we are here to support you in building a secure and worry-free financial future. With over 24 years of experience, we provide a variety of life insurance plans, including protection, retirement, savings, investment and health, to meet your unique needs.

Disclaimers:
Plus Symbol
Minus Symbol

Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility

 

BJAZ-WP-ECNF-15375/25

X
Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

Please refer to BALIC Privacy Policy

X
Disclaimer

Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

 

 

X
Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

~Individual Death Claim Settlement Ratio for FY 2024-2025

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


X
Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any Call made, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

X
Disclaimer

^Subject to Section 10 (10D) conditions i.e. aggregate annual premium for ULIP policies issued on or after 1st February 2021 does not exceed Rs. 2.5 Lakhs.

1Minimum premium mentioned is applicable for Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01) and is subject to policy terms and conditions.

#Source: https://economictimes.indiatimes.com/investments-marts/eight-crucial-numbers-to-ensure-financial-success/10-times-the-annual-income-is-your-life-insurance/slideshow/16699748.cms . Subject to availability in Bajaj Allianz Life ULIP Plans. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com ) carefully before concluding a sale.

*Benchmark: Nifty 500 Multicap Momentum Quality 50 Index past 5 CAGR Returns, as on 31st December 2024. Past returns of a fund are not necessarily indicative of the future performance of the fund. | Please consult the financial advisor before investing.

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

ULIPs are different from the traditional insurance products and are subject to the risk factors. The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Bajaj Allianz Life Insurance Company Limited is only the name of the Life Insurance Company and Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01) are only the name of the unit linked insurance contracts and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com ) carefully before concluding a sale.

Nifty 500 Multicap Momentum Quality 50 Index Fund is available Bajaj Allianz Life Future Wealth Gain IV - A Unit- linked Non- Participating Individual Life Savings Insurance Plan (UIN:116L202V01), Bajaj Allianz Life Goal Assure IV - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L204V01), Bajaj Allianz Life LongLife Goal III is A Unit-linked Non-Participating Whole Life Insurance Plan (UIN:116L203V01), Bajaj Allianz Life Invest Protect Goal III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L205V01), Bajaj Allianz Life Magnum Fortune Plus III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L207V01), Bajaj Allianz Life Goal Based Saving III - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN:116L206V01) and Bajaj Allianz Life Smart Wealth Goal V - A Unit-linked Non-Participating Individual Life Savings Insurance Plan (UIN: 116L201V01)

In addition to the already existing funds, Nifty 500 Multicap Momentum Quality 50 Index Fund is now available with the above mentioned products. Customer has an option to choose from other available funds apart from Nifty 500 Multicap Momentum Quality 50 Index Fund.

close
Ask for an Agent
Sign up for personal visit and tailored advice from our expert agents

Claim Settlement Ratio of 99.29%~