5 min read
Updated on Apr 28, 2023
Despite the fact that NRIs choose to live and settle outside of India, most of them prefer to get their health insurance coverage back home. The prime reason for this is that NRI health insurance India comes at a relatively cheaper price to them when compared to the cost of buying health insurance abroad. Considering the cost factor, a number of NRIs are now opting for NRI health insurance plans in India. Here we look at what exactly is health insurance for NRI , its importance for NRIs and how to secure one in India.
Health insurance in India has several categories, one of which specifically caters to the needs of NRIs or Non-Resident Citizens. These are people who were born in the country but chose to settle elsewhere for better work opportunities or for other reasons. Now, these NRIs can choose to buy health insurance in India under this category. The legal residential status of the prospective policyholder is validated before issuing an Indian health insurance for NRI.
Before moving any further on the subject of NRI health insurance India, let us look at whether or not NRIs are legally allowed to buy health insurance in their native country.
The answer to this is yes, an NRI citizen is permitted by law to purchase a health insurance plan in India under the NRI health insurance category. The legal residential status of the individual opting for the insurance is first verified. For this, they are required to submit their passport, proof of address, and some other relevant documents to the insurance company.
Also Read: Factors to be Considered by NRIs Before Buying a Life Insurance Policy in India
Here are some top reasons why buying health insurance in their home country is of significance to an NRI:
As stated earlier, NRIs are entitled to buy health insurance in India, even for their parents who may be NRIs but are now residing in India. There are a couple of reasons why it may be a good idea to buy a Health Insurance for NRI parents in India:
If you are planning to invest in NRI India health insurance plans, either for yourself, your parents, or family, here are the logical steps to follow for securing one:
Read More: Are NRIs Eligible for Health Insurance in India?
Health insurance plans in India for NRIs have several advantages to offer. You must definitely consider buying one for yourself and immediate family members, such as parents, spouse, or children, if you are an NRI. It would come of great use whenever you are in your home country for a visit or short/long stay, providing financial protection in those unforeseeable times when illness might strike unannouced.
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