Insurance is a confusing subject even for people who have been buying it for years. There are huge numbers of terms and conditions to read and then there are the tax implications, especially for NRI’s. Buying life insurance is a big move towards safety, security, and stability in your life. So choosing the best term life insurance plan for NRI families is especially tricky and important. Make sure you get the best advice on choosing the policy since it can make a huge difference in the long run.
1. What is Term Insurance?
When you take term life insurance, you pay monthly or yearly premiums to get an insurance cover. The cover will increase each year and pays out when you outlive the policy term, or when you die before the period is over. On death, the payout will be given to the beneficiaries of the policy nominated by you at the time of taking the policy. You can also change the nominees at any point of time in the future.
2. Why do you need a term insurance plan for NRI?
As an overseas resident, one of the problems you face is having to deal with two sets of laws, especially tax laws. Choosing the right plan can help you save money and get your family a better deal. It is difficult to make that decision when affected by just 1 tax law, leave alone two. This is why we recommend that you Get Free Life Insurance Quotes on nrilifeinsurance.com – best place for NRI’s to shop for Life Insurance. Policies and plans that are handpicked for your situation will give your family a secure future.
3. What if you are not married or don’t have children?
You can start buying your insurance early if you feel like it is the time to save money. You do not need to wait for the perfect nominees in your life. You can change nominee names at a later date, but the sooner you start on your insurance premiums, the better things will be when you finally decide to settle down. Starting early gives you a bigger sum assured and depending on the policy, you will be able to finish your term before you become too old. Timing is really important on insurance policies and the best time to start is when you know you can make consistent savings.
4. Is term insurance the right kind of policy for you?
There are different kinds of insurance policies available, but term insurance is the most common and usually the best option. Get Free Life Insurance Quotes on nrilifeinsurance.com – best place for NRI’s to shop for Life Insurance to know exactly how to get maximum benefit from a term insurance policy. With 15 years of experience in NRI insurance, USD 4 billion in insurance cover and a 100% happy customer base, you’ll be in the right hands. NRIinsurance.com will help you pick a policy that is perfect for you and your family (future or otherwise) so you can go about life stress-free.
- Get a quote online – Want to apply for your life insurance online? You can, with NRI Life Insurance. Get your personalized quote.
- Speak with an advisor – Make well-informed decisions with helpful advice. Talk to our advisor on +1 408-290-4096