NRI GENERAL INSURANCE

SCHEMES
 NRI general insurance schemes covers
NRI health insurance
 Accident insurance
 Overseas Travel insurance
 NRI shield
 Student medical insurance
 Property insurance etc.
 NRI health insurance
 NRIs can avail of medical cover for their
dependents residing in India through
health insurance schemes offered by
insurance companies like ICICI Lombard,
HDFC Standard Life, YES Bank, Standard
Chartered and State Bank of Travancore
NRI Care
 cover hospitalization expenses
 medical costs incurred on sudden illnesses and
accidents,
 nursing expenses
 expenditure on specialized treatment which
does not require hospitalization.
 Certain ailments and surgeries are secured by
pre-determined limits, while others are covered
by the sum insured in the policy.
NRI Accident Insurance

 Offered by Standard Chartered, HDFC

and National Insurance, it covers NRIs
upto 70 years.
 Accident insurance policies insure
expenses incurred due to an accident,
permanent disability and medical costs
incurred abroad and education of
dependent children.
 Policy holders can opt between monthly,
quarterly, half-yearly or annual premium
plans for three different schemes of the
National Insurance Company for a term of
5 years
Overseas Travel Insurance

 overseas travel insurance is open to all

ages of travellers covering foreign trips
between 7 to 180 days which can be
extended online if the stay is prolonged.
 The premium on this policy is paid on a
per-day basis and covers baggage losses,
passport loss, cancelled trips and delays,
hijacks, repatriation, medical evacuation
etc Ailments the policy holder is already
having or chronically suffering from are not
covered by the policy.
NRI Shield
 The Indian Overseas Bank in partnership with
the United India Insurance offers a combination
of travel and health insurance products for NRIs
visiting India.
 From a sum of Rs.1 lakh to Rs. 50 lakh, the
policy covers disability resulting from an
accident, medical benefits, and baggage and
passport losses during their stay in India.
Student Medical Insurance

 Offered by ICICI Lombard, this product

meets the requirements of mandatory
insurance demanded by foreign
universities in Australia, Canada, USA and
New Zealand.
 It covers the expenses of NRI students on
sports induced injuries, cancer screening
tests, nervous breakdowns, alcoholism
and drug abuse, pregnancy, and childcare
benefits.
NRI property insurance
 NRIs wishing to secure their homes or
investments in India are eligible to avail of
home insurance schemes offered by
insurance companies like Standard
Chartered, ICICI Lombard and LIC.
 The home insurance policy insures the structure
of the home for its reconstruction value and not
for its market value.
 The location of the home insured determines the
rate of construction, recommended by insurance
companies factoring in the cost of the material
used already in the home.
 However, the contents within the home are
computed on market value basis taking into
account depreciation costs. Jewellery is exempt
from depreciation
 Premium Payments

 There are convenient modes of payment

of premiums which include direct
remittance from abroad through banking
channels in the approved manner or by
remittances through postal channels like
Foreign Money Order