Health Insurance for Non-Resident Indians (NRIs) in India

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3 min
02-March-2024

Non-Resident Indians (NRIs) living abroad may require health insurance coverage when visiting their country of origin. The primary concern is whether NRI health insurance is available, and if it provides adequate coverage for medical expenses incurred in India. In this article, we will discuss everything NRIs need to know about health insurance coverage in India.

Health insurance for NRI

Health insurance for NRIs is specifically designed to cater to the unique healthcare needs of individuals residing outside of India. These policies offer comprehensive coverage for a range of medical expenses, including hospitalisation, doctor visits, diagnostic tests, surgeries, and medications. By purchasing health insurance in India, NRIs can ensure financial protection against unexpected medical costs and access quality healthcare services when needed.

Can NRIs buy health insurance in India?

Yes, NRIs can purchase health insurance in India to cover themselves and their families residing in India or during visits to the country. Many insurance companies in India offer specialised health insurance plans tailored to the needs of NRIs, providing coverage for both medical treatment within India and emergency medical expenses incurred abroad. However, different health insurance plans for NRIs are available depending on whether an individual is a foreign national or a Person of Indian Origin (PIO) or has Overseas Citizenship of India (OCI).

Foreign Exchange Management Act (FEMA) Regulations for NRIs

The guidelines for issuing health insurance for NRIs in India are outlined by the Foreign Exchange Management Act (FEMA). FEMA pertains to the provision allowing individuals to hold health insurance policies provided by insurers in their country of residence. Secondly, it encompasses guidelines governing the repatriation of claim amounts in foreign currency. These provisions ensure clarity and adherence to regulations concerning health insurance for individuals residing outside their home country.

Benefits of buying health insurance in India for NRIs

There are several benefits to purchasing health insurance in India for NRIs:

  • Comprehensive coverage: Health insurance plans for NRIs in India offer comprehensive coverage for medical expenses, ensuring financial protection against unexpected healthcare costs.
  • Affordability: Health insurance premiums in India are often more affordable compared to those in other countries, making it a cost-effective option for NRIs seeking quality healthcare coverage.
  • Cashless treatment: Many health insurance providers in India offer cashless treatment facilities at network hospitals, allowing NRIs to access medical care without upfront payment of expenses.
  • Tax benefits: NRIs may be eligible for tax benefits under Indian tax laws for premiums paid towards health insurance policies, providing additional financial incentives for purchasing coverage.

How to buy medical insurance for NRIs in India?

NRIs can purchase health insurance in India through various channels, including insurance companies, insurance brokers, and online platforms. The process typically involves:

  • Researching plans: Compare health insurance plans offered by different insurers in India, considering factors such as coverage, premiums, benefits, and network hospitals.
  • Documentation: Prepare the necessary documentation, including proof of identity, address, and income, as required by the insurance provider.
  • Application: Fill out the application form provided by the chosen insurer, providing accurate information about yourself and any family members to be covered under the policy.
  • Payment: Pay the premium for the selected health insurance plan through a permissible channel as per FEMA regulations, such as NRE/NRO accounts or other approved methods.
  • Policy issuance: Upon acceptance of the application and payment of premiums, the insurer will issue the health insurance policy, along with details of coverage, terms, and conditions.

Terms and conditions applicable to health insurance for NRIs in India

Before purchasing health insurance in India, NRIs should carefully review the terms and conditions of the policy, including:

  • Coverage limits: Understand the extent of coverage provided by the policy, including exclusions, waiting periods, and limitations on benefits.
  • Premium payments: Familiarise yourself with the premium payment schedule, frequency, and modes of payment accepted by the insurer.
  • Claim process: Know the procedures for filing claims, including documentation requirements, timelines, and procedures for reimbursement or cashless treatment.
  • Renewal terms: Review the renewal terms of the policy, including premium adjustments, coverage enhancements, and any changes in terms and conditions.

By purchasing health insurance in India, NRIs can ensure financial protection against medical expenses and access quality healthcare services when needed. Understanding the regulations, benefits, and terms of health insurance policies for NRIs is crucial for making informed decisions and safeguarding the health and well-being of themselves and their families.

Frequently asked questions

Can an NRI purchase an individual health insurance policy in India?

Yes, NRIs can purchase an individual health insurance policy in India. However, the insurance policies for NRIs may differ from those available to Indian residents. It's important to compare policies and ensure that they provide adequate coverage for medical expenses incurred in India.

What are the plans available for NRIs?

There are different health insurance plans available for NRIs, such as individual health insurance, family health insurance, and critical illness insurance. NRIs should compare policies to determine which is best for their individual needs and budget.

Which section of the Income Tax Act do I have to meet to be declared as an NRI?

An NRI is defined as a person who has spent less than 182 days in India during the tax year. NRIs should meet the requirements under Section 6 of the Income Tax Act to qualify as an NRI.

Can NRIs buy medical insurance for their parents living in India?

Yes, NRIs can purchase health insurance for their parents living in India. Insurance providers in India offer various plans that offer coverage for senior citizens, including NRIs' parents. The policies are usually subject to age restrictions and may require certain documentation to complete the purchase.

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Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Future Generali Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Limited, ICICI Lombard General Insurance Company Limited, HDFC ERGO General Insurance Company Limited, Tata AIG General Insurance Company Limited, The New India Assurance Company Limited, Cholamandalam MS General Insurance Company Limited, Niva Bupa Health Insurance Company Limited , Aditya Birla Health Insurance Company Limited, Manipal Cigna Health Insurance Company Limited and Care Health Insurance Company Limited under the IRDAI composite CA registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. Please refer insurer's website for Policy Wordings. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also a distributor of other third party products from Assistance Services providers such as CPP Assistance Services Pvt. Ltd., Bajaj Finserv Health Ltd. etc. All product information such as premium, benefits, exclusions, sum insured, value added services, etc. are authentic and solely based on the information received from the respective insurance company or the respective Assistance service provider company.

Note – While we have made all efforts and taken utmost care in gathering precise information about the products, features, benefits, etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective product’s sales brochures before concluding their sale.