• Get Life Cover worth Rs.1 Crore at Rs.17 per day2 – Bajaj Allianz Life Smart Protection Goal

  • Apne life goals ki guaranteed1 hona Ye Bhi Sahi Hai

  • Fulfill your Life Goals with Bajaj Allianz Life Goal Assure

  • Here's a Comprehensive Tool To Plan Your Child's Future

  • There is lot to remember in Life, Set renewal premium payments to Auto Pay

  • Get your Life Goals Done with Bajaj Allianz Life Smart Assist – BINA MILEY MIL-KAR

  • Paying your Renewal Premium is Quick and Easy!

  • Know the right amount of Insurance you need in just a few steps!

  • Avail Term Insurance Tax Benefits under Section 80D

  • Know how to invest money during the covid-19 pandemic!


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Life Insurance Plans For NRI
Secure your Family's Financial Future even from miles away!

Tax Benefits~     Life Cover

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

Life Insurance Plans for NRI

Bajaj Allianz Life

Goal Assure II

A Unit-linked Non-Participating Individual Life Savings Insurance Plan
Bajaj Allianz

Future Gain II

A Unit-linked Non- Participating Individual Life Savings Insurance Plan
Bajaj Allianz

Fortune Gain

A Unit-linked Non Participating Individual Life Savings Insurance Plan
Bajaj Allianz Life


A Non-Linked, Non-Participating, Individual Life Insurance Term Plan
Bajaj Allianz

Retire Rich

A Unit-linked Pension Plan

Digitally Manage Your Life Goals

Your ONE-STOP-SHOP to service your policy needs.

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Why should Non-Resident Indians (NRIs) invest in India?


Be a part of India's growth story

The Indian economy is on an upswing supported by sustained reforms over...

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The Indian economy is on an upswing supported by sustained reforms over the years. India's diverse market in all sectors offers something for every investor. Investing in India can provide NRIs with an opportunity to diversify their investment portfolios and tap into a market that is poised for exponential growth.

As an NRI, investing in India not only offers a probability of potential financial gains but also provides a chance to contribute to the development of the country and its people.

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Fulfil your Life Goals

As an NRI, you may participate in India’s growth journey by investing...

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As an NRI, you may participate in India’s growth journey by investing through various financial products. Historically, the Indian equity market has delivered robust long-term performance, although it is important to note that returns are inherently linked to risk (Additionally, it is crucial to recognize that past performance may not necessarily serve as a reliable indicator of future performance).

The new-age Unit Linked Insurance Products (ULIPs) are emerging as investment vehicles of choice to allow you to benefit from investing in the market-linked funds. They are flexible, offer the dual benefit of life insurance and investment and are designed for long-term.

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Secure your family’s financial future -

Bajaj Allianz Life has a portfolio of innovative insurance products including...

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Bajaj Allianz Life has a portfolio of innovative insurance products including Retirement plans, Savings Plans, Investment plans, and Child plans, to help you fulfil your life goals.

Bajaj Allianz Life offers variety of ULIP (Equity, Debt, Hybrid etc.) & Traditional (Par & Non-Par) funds which are managed by a team of experienced fund managers and their endeavor is to maximize the policy holder returns.

You may create a diversify portfolio while investing in such funds based on one’s risk appetite and investment horizon. Bajaj Allianz Life is one of the most trusted names in the life insurance industry in India, which is helping investors meet their life goals.

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DTAA Tax Benefits

As per Double Tax Avoidance Agreement (DTAA) Non-Resident Indians (NRI)...

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As per Double Tax Avoidance Agreement (DTAA) Non-Resident Indians (NRI) living abroad but earning an income in India, need not pay the taxes twice – in India as well as in their resident country. DTAA is an agreement signed between two countries to enable NRIs to get relief from paying taxes multiple times.
If DTAA is having favourable conditions, NRI can claim benefit under DTAA subject to availability of below documents :
1. Tax Residency Certificate
2. 10F Form(If PAN available-Online 10F form).

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Why Bajaj Allianz Life Insurance?

Claim Settlement Ratio of 99.23%~

Amount of Individual Claims Paid From FY 2006-07 to FY 2023-241

Solvency ratio of 432%^

Number of lives covered#

Total Assets Under Management (AUM)**

AAA:Stable Rating by CARE$

Get 1 Day Claim Approval%

Frequently Asked Questions (FAQs)

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Generic Queries

Who is a Non- Resident Indian (NRI)?

NRI is a citizen of India who holds a valid passport issued by Govt. of India and is temporarily residing outside India for the purposes of employment or business or otherwise. Any person holding 'Person of Indian Origin' (PIO) Card/ 'Overseas Citizens of India' (OCI) Card shall be considered at par with NRI.

Income Tax Act has not directly defined NRI. However, Section 6 contains detailed criteria of who is considered as Resident in India and further provides that anyone who does not meet these criteria is Non-Resident.

The status of a person as a resident or non-resident depends on his period of stay in India. The period of stay is counted in number of days for each financial year beginning from 1st April to 31st March (known as previous year under the Income-tax Act 1961)

An individual will be treated as a Resident in India in any previous year if he/she is in India for at least 182 days in that year, OR at least 365 days during 4 years preceding that year AND at least 60 days in that year.

What are the different premium payment modes available for NRI customers?

Premium can be paid through the following modes:

  • Credit Card – Domestic & International
  • Net Banking
  • Debit Card
  • Wallets (Paytm)
  • Unified Payment Interface UPI (Amazon Pay, Google Pay, Phone Pe, Paytm, BHIM)
  • Cheque/ DD (Offline payment modes)

You can also register for the below Auto pay options for seamless premium payments in future.

  • Online Mandate
  • National Automated Clearing House (NACH)
  • Unified Payment Interface (UPI) Mandate

Is there any limit on the number of life insurance plans that NRIs can buy?

There is no limit in number of life insurance policies bought by NRIs subject to applicable Underwriting guidelines.

Is it compulsory for an NRI to be physically present in India while buying any life insurance plan(s)?

NRIs need not be physically present in India to buy a life insurance policy as Life Insurance offerings are available through various digital platforms. This allows them to compare and know features of different policies, use chatbots for query resolutions and clarifications.


Can NRI invest in an insurance policy in India?

Yes. NRI including PIO and OCI can invest in an insurance policy in India to meet their life goals, subject to applicable Underwriting Guidelines of the Company and other applicable laws.

Can NRI purchase an insurance policy online?

Yes, NRI can purchase Bajaj Allianz Life insurance policy through the online platform by adhering to the below given checklist:

  • The proposal form must be filled in completely online.
  • Scanned copy of the passport needs to be uploaded as your age and identification proof.
  • Anti-Money Laundering and Know Your Customer (KYC) requirements should be complied with which includes the following:       
    • A recent photograph
    • Address Proof
    • Income Proof as per list attached in online application (If applicable)
    • OCI or PIO Card, in case of a permanent overseas citizen
    • PAN / Form 60,
    • Foreign Residency Supplementary Questionnaire (NRI/PIO Questionnaire)

What are the options available in case the policy requires medical examination?

Medical examination must be conducted by a medical practitioner provided the following conditions are met:

  • Medical examination is to be conducted at Company's designated Lab or Doctor empanelled by the Company
  • In case, medicals through non-designated lab or non-empanelled Doctor or to be conducted at abroad, prior approval from Appropriate Authority from Bajaj Allianz Life Underwriting team is mandatory.
  • Medical Examination form should be signed by the MBBS doctor, along with seal and stamp.
  • Medical examiner must verify the passport and the identity of the person to be insured. The copy of the passport used for identification needs to be sent along with the medical reports by the medical examiner.
  • The insured needs to sign the medical report in the presence of medical examiner.
  • The fees for medical reports will be in accordance with the pre-defined rates. The amount may be reimbursed to the insured as per the Company norms.

How will I get my insurance policy document?

The policy document will be sent to the mailing address (including foreign address) mentioned in the proposal form. Along with it, the soft copy of the insurance policy document will also be sent to the registered email ID.

How can I get additional information on my insurance policy?

For any information related to the insurance policy, the policyholder can get in touch with us through the following modes:

  • Visit our Customer Portal:

(!/login) /

  • Website

  • Download Bajaj Allianz Life Assist App available on Android and IOS
  • Connect with our WhatsApp services. Just say Hi to 8806727272 to get started
  • Call NRI Customer Care Number : 
Calling From Phone Number (Toll Free)
AUSTRALIA 80037371371
BRUNEI 8014605
INDONESIA 0018030160202
JORDAN 080023194
OMAN 80074363
TURKEY 00800142030059
VIETNAM 1800400070
UNITED STATES 18339680951
Calling us from INDIA 18002097272
Rest of the World +912067871700
            (Call charges apply)

When does a policy lapse?

The insurance policy will lapse on non-payment of renewal premiums after the expiry of grace period. In this case, all benefits under the policy are lost. The grace period for monthly premium mode policies is 15 days and for all other modes, the grace period is 30 days.

In case of lapse, can the policy be reinstated?

Yes, the policy can be reinstated by submitting a request with the required documentation (DGH, Medicals, if any) and paying all the due premiums (till the reinstatement date). Please refer to the product specific T&C for exact guidelines on reinstatement.

Can I return the insurance policy during the free-look period?

In case you feel that the policy bought by you does not match your life goals, you can return it during the free-look period which is 15 days from the date of receipt of the policy document for offline policies and period of 30 days in case of electronic policies and policies obtained through distance mode.

What is the process for updating information in the policy such as Address, Nominee name, etc?

You can update information related to your policy through either of the following ways:

  • Log in to the Customer Portal and opt for the relevant service request.
  • Download Life Assist Mobile App and opt for the relevant service request.
  • Connect on Bajaj Allianz Life WhatsApp number 8806727272 and place request
  • Send an email to from registered email ID along with scanned images of relevant documents.

Visit Branch office and place relevant service request

How can I redirect/switch funds in a ULIP policy?

Fund switching/redirection can be done in the following two ways:

  • Log in to the Customer Portal and select Premium redirection/ Fund Switch request (as applicable) under ‘My Services’ tab OR
  • Visit nearest Bajaj Allianz Life branch to place the relevant request.

Do I need to maintain accounts with an Indian banks to pay premiums for policies?

No. policyholder does not need to maintain an account with an Indian bank to pay premiums for policies

Can I pay the premium in foreign currency?

Yes, premium payment in foreign currency can be paid via SWIFT.

What are the different premium payment modes available for NRI customers?

Premium can be paid through the following modes:

  • Credit Card – Domestic & International
  • Net Banking
  • Debit Card
  • Wallets (Paytm)
  • Unified Payment Interface UPI (Amazon Pay, Google Pay, Phone Pe, Paytm, BHIM)
  • Cheque/ DD (Offline payment modes)

You can also register for the below Auto pay options for seamless premium payments in future.

  • Online Mandate
  • National Automated Clearing House (NACH)
  • Unified Payment Interface (UPI) Mandate

How will Bajaj Allianz Life communicate with me?

All communications in respect of the insurance policy or any other communication shall be to the registered email ID and/ or Indian address mentioned in the proposal form. Additionally, alerts through messages are sent at regular intervals on your registered Indian mobile number.

What is FATCA & CRS?

FATCA stands for Foreign Account Tax Compliance Act, and includes reporting the details of accounts (policies) held by individuals being a citizen or resident of United States of America (‘US’) as may be prescribed.

CRS stands for Common Reporting Standard, and includes reporting the details of account (policies) held by an individual belonging to a registered country, other than US citizens or US residents.

Central Board of Direct Taxes (CBDT) has prescribed rules on due diligence, maintenance of information and reporting of the accounts (policies) regarding NRI who are covered under the Foreign Account Tax Compliance Act (FATCA) or Common Reporting Standard (CRS).

For whom does FATCA/CRS form apply?

It is applicable to all the policyholders, for whom, any of the following is outside India:

  • Place of birth
  • Citizenship or tax-residency
  • Residence or Mailing address
  • Telephone number (residence or mobile)
  • Domiciled account with Standing instruction of transfer funds
  • Residing Power of attorney or signatory authority
  • A ‘hold mail’ instruction or ‘in-care-of’ address in a jurisdiction outside India, if the reporting financial institution does not have any other address on file for the account holder

For further information on FATCA/CRS, please visit and refer to Central Board of Direct taxes (CBDT) notification news on ‘Due Diligence and Reporting Rules 114F to 114H under section 285BA of the Act, 1961’

How can I declare FATCA?

You can follow the below mentioned steps for submitting FATCA declaration:

  • Log in to the Customer Portal (Bajaj Allianz Life Assist Portal) and open FATCA Declaration under NRI Corner tab
  • Submit the required details and upload supporting documents
  • Mandatory documents for FATCA Declaration are,
    • Valid Passport
    • TIN or TIN equivalent
    • Foreign Address Proof

Can the policy under MWPA (Married Women's Property Act, 1874) be offered to NRI?

A: Yes, policy under MWPA (Married Women's Property Act, 1874) can be offered to NRI.

However, cannot be offered to ‘Indian having Foreign Citizenship’ or to OCI (Overseas Citizen of India)


What is the claim settlement process?

Claim will be settled upon receipt of all mandatory documents. In case, we need any further documents to process the claim, claimant shall be contacted at the communication address / contact no. mentioned on intimation letter.

How to intimate claim?

Claimant can visit any of our Branch Office or Head Office to intimate claim. Claimant can also intimate the claim through email, post or courier or through authorised representative.

What are the documents required to process a death claim?

Following documents are to be submitted along with claim intimation:

  • Death Certificate issued by the Government
  • Claimant Statement/Intimation Letter
  • Photocopy of ID proof and address proof for claimant (with self-attestation)
  • Original policy bond 
  •  Copy of Bank passbook/NEFT mandate/Cancelled cheque of claimant
  • Medical Certificate issued by hospital (if available)
  • Post Mortem report and FIR (in case of accident)

How will the claims be paid?

  • Claims will be settled in Indian currency only.
  • If the claimant is NRI or PIO or OCI, subject to applicable RBI regulations and other acts,
    • Claim can be settled by direct credit to NRE / NRO / Foreign Bank account of the claimant.
    • Claim settled by crediting foreign bank account will be in proportion to the amount of premium paid in foreign currency, in relation to the total premium payable. Balance claim amount, if any, will be settled by crediting NRO account of the claimant, as applicable.
    • If premiums have been paid in non-repatriable rupees, then claim will be settled by crediting to NRO account only.
  • In case the claimant is an Indian Resident, then claim will be settled through direct credit to claimant’s Indian bank account only.

Tax Related

What are the tax eligibilities for NRI & NRE accounts respectively?

The tax eligibilities depend upon the residential status of the individual basis the Income Tax provisions and not on the basis of account held.

Can NRI customers avail GST waiver on premiums paid via Indian account?

Yes, Premium payment via Indian account(NRE) & foreign account(SWIFT) is eligible for GST waiver upon submission of required documents.

Can NRI claim tax exemptions by investing in an insurance product?

Tax benefits can be availed by the NRIs under section 80C and 80D of the Income Tax Act 1961 (the Act). Further, on claim proceed, tax benefit* can be availed under section 10(10D) of the Act.

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

What are the various Taxation Laws and sections for NRIs, applicable in India?

“Non-resident Indian" (‘NRI’) is defined under section 115C of the Act to mean an Indian citizen or a person of Indian origin who is not a resident of India for tax purposes. Following provisions of the Act are applicable to certain incomes of Non Resident Indian:

  • Section 115D: Special provision for computation of total income of non-residents
  • Section 115E: Tax on investment income and long-term capital gains
  • Section 115F: Capital gains on transfer of foreign exchange assets (not to be charged in certain cases)
  • Section 115G: Return of income (not to be filed in certain cases)
  • Section 115H: Benefit under Chapter to be available in certain cases even after the assesse becomes resident
  • Section 115-I: Chapter not to apply if the assesse so chooses

How can double taxation be avoided by NRIs?

Double taxation occurs when income tax is paid twice, (i.e in the country of residence and in the country where the income is earned) on the same source of earned income. To avoid paying double taxation, NRIs can seek relief under the Double Tax Avoidance Agreement (DTAA) (wherever available) between the two countries, which is an arrangement between the governments of two countries, prescribing the country in which income earned from a foreign country will be taxed. To avail this benefit, you need to gather all the necessary documents of tax paid in India, as proof. Also if there is any benefit under DTAA, no withholding tax will be deducted if customer submits valid Form 10F and valid Tax Residency Certificate (TRC) issued by Revenue Department of Foreign Country in which customer is residing.

Is Tax deducted at source (TDS) on insurance benefits applicable to NRI?

As per section 195 of the Act, Tax is deducted at source (TDS) for any policy benefit that is not exempt under Section 10(10D). TDS will be applicable on the payout amount for annuity policies under Section 195 of the Act. However, no TDS is deducted for NRIs residing in countries that are subject to Double Taxation Avoidance Agreement (DTAA) benefit, and where the policyholder has submitted a duly-filled Form 10F along with valid Tax Residency Certificate (TRC) to the insurer before payment. Note that where payout is recurring payout like annuity, every year customer needs to submit valid Form 10F and TRC.

What are the tax implications for NRIs investing in ULIPs?

For ULIP policies issued before 1 Feb 2021, maturity amount will be tax free in the hands of recipient if policy is satisfying conditions mentioned under Section 10(10D) of the Act. For policies issued on or after 1 February 2021, if the aggregate annual premium of all unit-linked plans that you have is equal to or less than Rs.2.5 lakhs, maturity amount will be tax free in the hands of recipient if policy is satisfying conditions mentioned under Section 10(10D) of the Act.If the aggregate annual premium is more than Rs.2.5 lakhs, the maturity proceeds would attract capital gains tax. Double Tax Avoidance Agreement (DTAA) benefit if available can be obtained by the policyholder subject to the necessary documentation.

What are the GST implications for NRI customers?

GST will be applicable as per the rates for respective product type (Term – 18% , Endowment( First year) – 4.5%, renewal premium – 2.25%, Annuity – 1.8%, ULIP – 18% on charges). However, GST waiver benefit can be availed by the NRI customer if the following conditions are satisfied:

  • Proof of foreign address is provided (such as lease agreement, utility bill, driver’s license etc)
  • Premium is paid through NRE bank account/SWIFT transfer (Along with the documentary proofs).
  • GST Waiver declaration (BALIC format) that includes payment through NRE bank account and Indemnity.

What is Tax Residency Certificate (TRC)?

TRC is a certificate issued by the Government of a country stating that the said person is a tax resident. Usually TRC is issued by tax/revenue/reserve departments of a country and is valid only for a certain period. Therefore, policyholders must avail policy benefits while the certificate is still valid – to enjoy DTAA benefit.

Can NRI ask for a refund on TDS deduction from the Life Insurance company?

TDS refund cannot be allowed once TDS is deducted by the Life Insurance company and payment is made to Policy Holders.

Can NRI subsequently seek refund of GST charged by the Life Insurance company?

GST refund cannot be subsequently allowed once premium payment is made by customer along with GST. For availing GST waiver, the applications should be logged in with NRI GST waiver option within the buy journey.

What are the tax and regulatory provisions for Repatriation proceeds in Life Insurance?

NRIs can repatriate claims, maturity proceeds or surrender value of life insurance policy outside India, only in proportion in which the amount of premium has been paid in foreign currency through NRE / Foreign account in relation to the total premium payable.

If premium/s are paid by customers from NRE account, payout from policy can be made in NRE account, otherwise payment will be made to NRO account.

Any amount that is received from the life insurance policy that is not exempt under section 10(10D) of the Act, will be subject to withholding tax at applicable rates (as per the provisions of the Act and the balance amount (net of taxes) will be repatriable as per the FEMA Regulations mentioned above.

Whether GST is waived off if premiums are paid from NRE account through open market option in BALIC.?

We cannot offer GST waiver in this case, as the premium will not be received in convertible foreign exchange.

Didn't Find Your Question?

Digital Services For You

  • WhatsApp Servicing

    Connect with us on WhatsApp to manage your policy in an easy manner.

  • Boing ChatBot

    BOING is your personal assistant BOT to help you manage your queries.

  • Live Chat Connect

    Connect with our customer care executives for any policy related questions.

  • Instant Premium Payment

    Pay your premium through preferred mode-credit/debit card, net banking, e-wallet, UPI or register your policy on auto-debit facility. 

  • Video Connect (i-Serv)

    Instant connect over a video call and enjoy a virtual branch experience from anywhere.

  • Life Assist App/Portal

    Life Assist App/Portal

    Our one stop, self-servicing tool that enables you to do any policy related transactions on your own. 

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The Foreign Exchange Management Act (FEMA) allows NRIs to buy life insurance policies in India.1

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Contact Us

Bajaj Allianz Life Insurance Company Ltd.

Bajaj Allianz House, Airport Road,
Yerawada, Pune - 411 006,

Tel No: 020-66026773

For Assistance in India, please visit our nearest branch

Branch Locator

Branch Timing:

Monday to Friday - 9:00 AM to 3:30 PM (IST)

Saturday - 9:00 AM to 1:00 PM (IST)

Sales Enquiry Helpline: +91-20-35125850
(Call Charges Apply)

Monday to Saturday: 9:00 AM to 7:00 PM (IST)

Customer Care Helpline:

(Mon-Sun: 9.00 AM to 7.00 PM (IST))
NRI Service Helpline (24/7, All Weekdays)

NRI Services Helpline

E mail :

UAE Representative Office (Dubai):

Bajaj Allianz Life Insurance Co. Ltd
O215, 2nd floor,Hamsah building,
Near Ansar Gallery, AL Karama,
Dubai, United Arab Emirates

Office Timing:

Monday to Friday - 9:00 AM to 6:00 PM (GST)

For Assistance, visit our Dubai Office

Visit Dubai Office

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