Despite living abroad, many NRIs have strong familial bonds in India. As their relatives back home age or face health issues, many are choosing Indian insurance products to support them.
This trend is on the rise, and there are various reasons why NRIs consider Indian insurance a better choice than foreign ones. The biggest factor is affordability.
Indian insurance offers large coverage at a fraction of the cost abroad, aided by healthcare policies like Ayushman Bharat. A ₹1-crore term policy costs just ₹5,000–10,000 per year, far cheaper than in the US, UK, or UAE.
Another major reason is Tax saving. Insurance premium plans often qualify for tax deductions in India making these protection policies far more appealing.
Indians living in the Middle East are leading this trend. Especially NRIs from UAE, Qatar, and Saudi Arabia make up 60% of total insurance sales from Indians abroad.
While Indian healthcare is still not at par with that of developed countries, it has improved in recent years. On top of that, lower premium plans are driving a surge in health policy purchases.
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