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Tax Benefits*Term insurance for NRIs in the UK is a pure protection life insurance plan issued by an Indian insurer and regulated by the Insurance Regulatory and Development Authority of India (IRDAI). It provides financial security to your family by paying the chosen sum assured if the life assured passes away during the policy term.
For Indians living and working in the United Kingdom, an India-issued term insurance plan helps ensure that dependants in India remain financially protected against future uncertainties. Ageas Federal Term Insurance also continues to provide coverage even if you relocate to another country or return to India after purchasing the policy, subject to the policy terms and conditions.
Level Term Insurance:A standard term insurance plan where the sum assured remains unchanged throughout the policy term, providing consistent financial protection for your beneficiaries.
Increasing Term Insurance:With this option, the sum assured increases during the policy term by a predetermined percentage or fixed amount, helping your life cover keep pace with increasing financial responsibilities and inflation.
Decreasing Term Insurance:Under this option, the sum assured gradually reduces during the policy term. These plans are commonly chosen alongside home loans or other financial liabilities, where the reducing life cover broadly aligns with the declining outstanding loan amount.
Term Insurance with Return of Premium (ROP):Unlike a standard term insurance plan that does not provide a maturity benefit, this option refunds the eligible premiums paid during the policy term if the life assured survives until the policy matures, subject to the policy terms and conditions.
Applicants should qualify as a Non-Resident Indian (NRI), an Overseas Citizen of India (OCI), or a Person of Indian Origin (PIO). They must possess a valid passport, and their residential status should comply with the Foreign Exchange Management Act (FEMA) and applicable Reserve Bank of India (RBI) regulations.
Most term insurance plans are available to applicants between 18 & 65 years of age. Depending on the selected plan, the maximum entry age may extend up to 85 years, while coverage can continue up to 85 or even 99 years, subject to the product terms and conditions.
Applicants should have a stable source of income earned either in the United Kingdom or India. Financial eligibility helps determine the appropriate sum assured. Salary slips, employment details, income documents, or recent bank statements may be requested during the application process.
Every application is assessed based on factors such as: occupation, lifestyle habits, medical history, country of residence, and overall risk profile. Applicants employed in specialised or higher-risk professions may be required to provide additional information during underwriting. Providing complete and accurate disclosures helps ensure smooth policy issuance and facilitates hassle-free claim settlement in the future.
NRIs residing in the United Kingdom have multiple convenient options to pay premiums for their India-issued term insurance plans. Depending on your preferred banking arrangement, you can choose the payment method that best suits your financial needs while ensuring uninterrupted policy coverage.
Premiums can be paid directly in Indian Rupees (INR) through your NRE or NRO bank account in India. This continues to be one of the most preferred payment methods, as it enables seamless premium payments without additional processing complexities. These accounts also make it easier to manage policy-related financial transactions throughout the policy term.
Purchasing an India-issued term insurance plan while living in the United Kingdom offers financial security, affordability, and long-term value. Since many NRIs continue to support their families and fulfil financial responsibilities in India, a rupee-denominated life insurance cover provides protection that aligns with their financial commitments. With Ageas Federal, eligible NRIs can complete most of the purchase journey digitally while enjoying convenient premium payment options and comprehensive financial protection.
Term insurance plans issued in India provide complete life cover at competitive premiums compared to many overseas markets, helping NRIs secure substantial financial protection without significantly impacting their budgets.
Your policy generally remains valid irrespective of where you reside. Whether you continue living in the UK, relocate to another country, or permanently return to India, your life cover continues, subject to policy terms and timely updates of your residential information with the insurer.
Depending on the selected plan, your nominee may receive the claim amount as a lump sum, periodic income, or a combination of both, helping your family manage immediate expenses as well as long-term financial obligations.
Your base coverage can be enhanced by choosing available riders at an additional premium, such as accidental death benefit, critical illness benefit, disability benefit, or terminal illness benefit, subject to product availability and policy terms.
Eligible NRIs with taxable income in India may claim deductions on qualifying premiums under the applicable provisions of the Income Tax Act, subject to the prevailing tax regime. Eligible policy proceeds may also qualify for tax exemptions under applicable provisions. In addition, eligible individuals may claim relief under the India–UK Double Taxation Avoidance Agreement (DTAA) wherever applicable.
Disclaimer: Tax laws are subject to change and depend on individual financial circumstances. Ageas Federal Life Insurance does not provide tax advice. Please consult a qualified tax advisor to understand the tax benefits applicable to your individual situation.
The right choice depends on where your long-term financial responsibilities are based. If your family, dependants, loans, and future financial goals are primarily centred in India, an India-issued term insurance plan can provide protection aligned with your financial needs. However, if your long-term financial commitments and dependants are permanently based in the United Kingdom, a locally issued policy may also be worth evaluating based on your personal circumstances.
| Factor | India-issued Term Plan (Ageas Federal) | UK-issued Policy |
|---|---|---|
| Currency of Cover & Payout | Indian Rupees (INR) | Pound Sterling (GBP), as applicable |
| Premium Structure | Competitive premiums designed for the Indian market | Depends on the insurer and UK market conditions |
| GST on Premium | Nil (0%) on eligible individual life insurance premiums (from Sept. 2025) | As per applicable UK tax and insurance regulations |
| Digital Purchase | Online application and remote processing available | Depends on the insurer |
| Coverage After Returning to India | Continues without requiring a new policy, subject to policy terms | Depends on insurer conditions |
| Premium Payment Options | NRE/NRO accounts and eligible overseas remittances | UK banking and local payment options |
| Regulatory Authority | IRDAI | Relevant UK insurance regulatory framework |
Keep the following documents ready while applying from the UK:
Accepted Documents
For an OCI/PIO applicant, provide a foreign passport and valid OCI/PIO card. Use the applicant’s current eVisa status rather than listing a BRP as the standard current document. Physical BRPs have been replaced by eVisas. 
Confirm that the plan is available to applicants residing in the UK.
Select the sum assured, term, payout structure and riders.
Upload the documents and complete KYC, financial and medical assessment.
Use an approved payment route and manage the policy digitally from the UK.
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on GoogleBuying a term insurance plan is a long-term financial decision, especially when your family and financial commitments are based in India while you live and work in the United Kingdom. Before selecting a policy, make sure you evaluate the key factors that can influence both your coverage and future claim experience.
Your life cover should be sufficient to meet your family's future financial needs, including household expenses, children's education, outstanding loans, and other long-term financial responsibilities. Consider your current income, existing liabilities, future financial goals, and lifestyle before deciding the appropriate sum assured.
Ideally, your coverage should continue until your major financial obligations are fulfilled or until your planned retirement age. Choosing a longer policy term can help ensure your family remains financially protected throughout the years when they are most dependent on your income.
Review the optional riders available with your policy and select those that align with your protection needs. Riders such as accidental death benefit, critical illness benefit, disability benefit, or terminal illness benefit can broaden your coverage by paying an additional premium.
Choose a premium amount, payment frequency and premium payment term that comfortably fits your budget. Regular premium payments help to ensure uninterrupted life insurance coverage throughout the policy tenure.
Disclose your occupation, medical history, smoking or tobacco habits, travel history, and existing health conditions honestly while completing the proposal form. Accurate disclosure supports smoother underwriting and helps avoid complications during claim settlement.
Choose an insurer that offers dedicated support for NRIs, digital servicing, remote documentation, convenient premium payment options, and an efficient claim settlement process for nominees residing in India or overseas.
At Ageas Federal Life Insurance, we understand the unique financial responsibilities of Indians living in the United Kingdom. Our solutions are designed to help NRIs protect their loved ones in India through a simple, reliable, and digitally enabled insurance experience.
Claims are processed in India, with dedicated assistance provided to nominees and beneficiaries, helping make the claim settlement process smoother and more convenient.
Eligible applicants can complete KYC formalities and medical requirements through digital, tele-medical, video medical, or approved remote processes, reducing the need to travel to India for policy issuance.
From policy application to issuance, the entire process is designed to be convenient, allowing you to purchase, manage, and service your policy while living in the UK.
Pay premiums conveniently through your NRE/NRO account or eligible international remittance channels, subject to applicable regulatory guidelines.
With over a decade of experience, Ageas Federal Life Insurance offers protection, savings, pension, investment, annuity, and health insurance solutions designed to support customers through every stage of life.
Our servicing model is designed specifically to simplify the insurance journey for NRIs by providing assistance throughout policy purchase, servicing, policy management, and claims support.
For all your needs, we’re here with expert assistance
AGEAS FEDERAL LIFE INSURANCE
Endorsed by Life Insurance Experts
At Ageas Federal Life Insurance, we are dedicated to creating meaningful insurance solutions that help individuals build a secure and confident future. With over a decade of experience, we offer a wide range of plans across protection, pension, savings, investment, annuity, and health, designed to support evolving financial needs at every stage of life.
Yes. Eligible NRIs residing in the United Kingdom. can purchase an India-issued term insurance plan without travelling to India. The application process, document submission, KYC verification, medical requirements (where applicable), and policy issuance can generally be completed through digital or approved remote processes, subject to the insurer's underwriting guidelines.
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