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Android_Halwa

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Inparmation is wealth..

As per the rules, NRI's cannot hold savings account in India. Although we all might be having a savings account operated by our parents or anyone else but as per the rules, NRI's can only hold NRO/NRE accounts only. 

Also when it comes to insurances, especially life insurance....NRI's cannot hold insurance products in India. There is a gap in information and eligibility but this is the fact. 

Most of the insurances, especially systematic investments plans, retirement plans, annuity and unit linked plans of LIC, we have only produced identification documents issued in India which had made us directly qualified for the plans but we have to update these plans with our present documents, passport and proof of residence in foreign country or else, these plans might not be valid anymore. 

If anyone have done so and have no plan to return to India, please transfer the present policy to your parents if such policies are transferable or make your parents or guardians beneficiaries of such policies and amend them, or else you may face problems at the time of payouts.

 

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38 minutes ago, Android_Halwa said:

Inparmation is wealth..

As per the rules, NRI's cannot hold savings account in India. Although we all might be having a savings account operated by our parents or anyone else but as per the rules, NRI's can only hold NRO/NRE accounts only. 

Also when it comes to insurances, especially life insurance....NRI's cannot hold insurance products in India. There is a gap in information and eligibility but this is the fact. 

Most of the insurances, especially systematic investments plans, retirement plans, annuity and unit linked plans of LIC, we have only produced identification documents issued in India which had made us directly qualified for the plans but we have to update these plans with our present documents, passport and proof of residence in foreign country or else, these plans might not be valid anymore. 

If anyone have done so and have no plan to return to India, please transfer the present policy to your parents if such policies are transferable or make your parents or guardians beneficiaries of such policies and amend them, or else you may face problems at the time of payouts.

 

Maa ayya LIC kannaram DO.. sooskuntadu ittaantivi emanna theda unte

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  • 7 months later...

Please advise.

i am 30 years old and married. no kids yet.

planning to sign up for life insurance.

Prudential vaadu $35 per month on 500k and 30 years term annadu

AIG vaadu 52$ on 500k fro 30 years term.

suggest good one in both.

Naa asalu question enti ante. beneficieries ela decide avutharu incase anything happens.

ipatiki ayithe i will keep my wife as benfieiciery. if i have kids in next 2  years. will they be automatically get the benefits or do i need to buy a separate policy for them.

 

 

 

 

 

 

 

 

 

 

 

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