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NON - RESIDENT INDIANS AND FOREIGN NATIONALS OF INDIAN ORIGIN

NON - RESIDENT INDIANS AND FOREIGN NATIONALS OF INDIAN ORIGIN. NRI & MAIL ORDER BUSINESS. There are two classifications made by LIC for the purpose of allowing insurance to persons residing in foreign countries. Non-Resident Indian

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NON - RESIDENT INDIANS AND FOREIGN NATIONALS OF INDIAN ORIGIN

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  1. NON - RESIDENT INDIANS AND FOREIGN NATIONALSOF INDIAN ORIGIN

  2. NRI & MAIL ORDER BUSINESS • There are two classifications made by LIC for the purpose of allowing insurance to persons residing in foreign countries. • Non-Resident Indian • 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. • The 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.

  3. NRI & MAIL ORDER BUSINESS • Foreign national of Indian Origin • A citizen of a foreign country who is having Indian origin. He/She may not be treated as NRIs for the purpose of allowing insurance.

  4. NRI & MAIL ORDER BUSINESS • Non-Resident Indian (Actl/1923/4 dt 19.12.2003) • NRIs can be allowed insurance:  • On their visit to India – insurance cover is canvassed in India and all formalities regarding filling in the proposal forms, obtaining Medical Examination Report / Special Medical Reports and Moral Hazard Report are completed during their stay in India.

  5. MAIL ORDER BUSINESS • . From their present country of residence – known as MAIL ORDER BUSINESS – where all or some of the formalities regarding filling in the proposal forms, obtaining medical and special reports are completed in their present country of residence. • It has now been decided to allow all agents to complete formalities under proposals from NRIs during their visit to NRIs’, present country of residence.

  6. MED EXAM FOR MOB • Sum Proposed Medical Report from Rs.2,00,000 to Rs.5,00,000 Graduate Doctor with 5 years standing • Rs. 5,00,001 to Rs.10,00,000 Graduate Doctor with 10 years standing • Rs.10,00,001 to Rs. 24,99,999 Post graduate Doctor with 5 years standing • Rs. 25,00,000 and over Post graduate Doctor with 10 years standing

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