Bajaj Life is launching new digital-friendly term insurance plans tailored for non-resident Indians, offering rupee-denominated payouts and customised options designed to provide family protection anchored in India, even from abroad.
Bajaj Life is pitching its term insurance plans to non-resident Indians as a way to keep family protection anchored in India even when the policyholder lives overseas. The insurer says eligible NRIs can apply from abroad or during a visit to India, with cover that continues worldwide subject to policy terms and exclusions. For many expatriate households, the appeal is straightforward: a rupee-denominated payout for dependants, loans or education costs that remain tied to India.
Its flagship option for this market is eTouch II, which comes in several variants and can be paired with riders for extra protection, including cover for critical illness or accidental disability in some cases. Bajaj Life also promotes a women-focused version built on the same base plan, while iSecure II is positioned for applicants whose income evidence may not follow the standard salary-slip route. The company says the application process is designed to be digital-friendly, with telemedical or video medical assessments available for eligible applicants.
That flexibility matters because eligibility for NRI buyers is not uniform. According to the insurer’s own guidance, entry ages, maximum cover, rider access and documentation requirements vary by plan, country of residence and underwriting outcome. Bajaj Life says applicants typically need a passport, income proof and a FATCA declaration, while some cases may also require foreign tax details or additional residency evidence. For higher cover levels, physical medical tests can still be requested even if an initial video assessment is sufficient.
Pricing is another reason the plans can look attractive. Indian term insurance is often cheaper than comparable overseas policies, and the company’s own sample illustrations show premiums that vary by age, gender and cover level. Bajaj Life also says NRIs may pay a small additional amount because of geographical loading, which reflects the insurer’s view of added risk tied to where the customer lives. For families with obligations in India, that can still leave the overall cost below many international alternatives.
The claim process is intended to be simple for nominees in India, though deaths abroad can trigger extra checks, translations or attestations of foreign documents. Bajaj Life says payouts are usually made in Indian rupees to an Indian bank account, subject to regulatory rules. The company also points to a claims record that it says compares favourably with industry averages, along with a solvency ratio above the median, as evidence of operational strength. For NRIs with income, liabilities or long-term goals linked to India, the product can be a practical way to keep protection local even when life is not. However, those with most financial commitments overseas may need a policy that matches their foreign-currency exposure more closely.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
