Are you an NRI living in the USA, UK, Dubai, or any other country and want to buy an LIC policy? Yes, NRIs can absolutely buy LIC insurance from abroad. Here is the complete step-by-step guide.
Can NRIs Buy LIC Insurance?
Yes! NRIs with Indian citizenship or PIO/OCI card holders can buy most LIC plans. You do not need to visit India to purchase a policy — it can be done through an authorized LIC agent.
Documents Required for NRI LIC Policy
Identity: Valid Indian passport or OCI card
Address Proof (India): Aadhaar card or Indian address of family
Address Proof (Abroad): Utility bill, driving license, or bank statement
Income Proof: Salary slip, tax returns, or employment letter
PAN Card: Mandatory for tax purposes
NRE/NRO Bank Account: For premium payment
Photographs: Recent passport-size photos
Medical Reports: If required based on sum assured
Best LIC Plans for NRIs in 2026
1. LIC Jeevan Anand: Most popular among NRIs for long-term savings with life cover.
2. LIC Tech Term: Affordable pure protection for family in India.
3. LIC Jeevan Labh: Limited payment period, great for NRIs who may return.
4. LIC Saral Pension: Guaranteed pension after retirement, perfect for NRIs planning to retire in India.
5. LIC New Childrens Money Back: For NRI parents wanting to secure children education in India.
How to Pay LIC Premium from Abroad
NRE Account: Premium paid from NRE account. Maturity proceeds are fully repatriable.
NRO Account: Premium paid from NRO account. Maturity proceeds have repatriation limits.
Online Banking: Most NRE/NRO accounts support online premium payment through LIC website.
ECS/Auto-debit: Set up automatic deduction from Indian bank account.
Tax Benefits for NRIs
Section 80C: Premium up to Rs 1.5 Lakh deductible from Indian taxable income.
Section 10(10D): Maturity proceeds tax-free in India with conditions.
US Tax: LIC policy is treated as a foreign financial asset. You may need to report it in FBAR/FATCA. Consult a US tax professional for specifics.
Process to Buy LIC Policy as NRI
1. Contact an authorized LIC agent (like us)
2. Share your documents (scan and email is fine)
3. We prepare the proposal form
4. You sign and send (digital or physical)
5. Pay first premium from NRE or NRO account
6. Policy issued and delivered to your India or abroad address
We Help NRIs Buy LIC — FREE Service
We specialize in helping NRIs across USA, UK, UAE, Saudi Arabia, and other countries buy and manage LIC policies. Our service is completely free — we are authorized LIC agents.