Should NRIs buy life insurance in India?

Life Insurance Policy for NRIs from LIC India

NON-RESIDENT INDIAN:

• A non-resident Indian is a citizen of India temporarily residing in the country of his/her present residence and holding a valid passport issued by the Government of India.
• NRI should not be a green card holder. He/She should not have applied for or planning to apply in the near future for acquiring citizenship of his /her present country of residence or any other country.
• It is clarified that People of Indian Origin having foreign nationality and residing in foreign countries (PIO) are not considered as NRIs for the purpose of allowing insurance. Rules applicable to PIOs are given in the last paragraph.

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