The world has evolved into the concept of a “global village”, where physical boundaries have blurred and people aren’t afraid to venture into an unknown territory. With new job opportunities opening up in different parts of the world, individuals are more open to the idea of moving away from their home in the pursuit of a better future. Indians account for a vast majority of the global workforce, with NRIs in every nook and cranny of the world. The hardships associated with moving to a different corner can be offset, to an extent, by choosing a good insurance policy. NRIs not only stay protected by using these policies, but also have an option to secure the future of their loved ones.
NRIs Plans offered by ICICI Prudential Life:
ICICI offers a number of plans to NRIs, ensuring they maintain a connection with their homeland. These plans are outlined below.
- Term Plans:
A term plan is perhaps the simplest and cheapest way to protect both yourself and your family. ICICI has one term plan under its umbrella, as mentioned below.
- ICICI Pru iProtect Smart – This term plan offers complete protection to an individual, offering high cover and protection against multiple eventualities.
- Protection Plus Savings plans:
Also termed wealth plans, these schemes are designed to help our hard earned money grow over time, while providing life cover simultaneously. ICICI Life Insurance has Unit linked and traditional savings plans under this scheme.
- Unlit Linked Insurance Plans:
- ICICI Pru Guaranteed Wealth Protector – This plan is designed for individuals who are looking for high returns through investments in equity.
- ICICI Pru wealth Builder II – This is a savings cum protection plan with multiple investment options designed to enhance your wealth and protect your family.
- ICICI Pru Smart Life – This plan comes with a smart feature which helps the wealth accumulate even after the demise of a policyholder.
- ICICI Pru Elite Wealth II – This plan is exclusively designed for people with high tastes, offering great investment options and protection for their family.
- ICICI Pru Elite Life II – Designed for individuals with high net worth, this plan is ideal if you wish to have a future without financial problems.
- Traditional Savings Plans:
- ICICI Pru Cash Advantage – This plan ensures that you have a guaranteed income for 10 years, with liquidity options to meet any financial obligations you might encounter.
- ICICI Pru Savings Suraksha – Flexibility and reliability make this plan ideal for people who wish to ensure the dreams of their family are fulfilled.
- Retirement Plans:
Retirement plans ensure that all the hard work and effort which went into making you the person you are doesn’t go to waste in your retirement phase.
- ICICI Pru Easy Retirement – Assured benefits and the chance to enhance your retirement amount make this ideal for people who wish to enjoy their golden years without having to worry about finances.
- ICICI Pru Immediate Annuity – This plan helps you earn an income even after retirement by paying a single premium.
How to purchase ICICI Prudential Life Insurance for NRIs:
Given the fact that these policies can be purchased by NRIs, interested people can approach the NRI department of ICICI Pru by either emailing or calling them. If eligible, they are required to fill up certain forms and pay the premium to become a part of their protection programs. Additionally, one can also log onto the BankBazaar website to get more information about a particular product.
Note: NRI life insurance is offered only in certain countries and individuals should check with ICICI Prudential Life Insurance to confirm their eligibility and availability.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017