Can foreigner take LIC policy?
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Can foreigner take LIC policy?
Yes; Non-Resident Indians (NRIs), People of Indian Origin (PIOs) can buy a life insurance plan in India. Foreign Exchange Management Act (FEMA) allows NRIs to buy any plan that meets their requirements of protecting themselves and their family whether he is currently residing in India or not.
What are the documents required for LIC policy?
Passport, driving license, voter Id, ration card, utility bills (telephone bill/gas bill/mobile postpaid bill/credit card bill), bank passbook Xerox, bank statement, rental agreement, etc. 3. Photo Id proof: Passport, pan card, driving license, voter id, aadhar card, etc.
What is the best LIC policy for NRI?
Why an NRI should buy insurance from LIC?
- LIC Jeevan Labh – Highest Selling Plan with a great rate of return on your Investment.
- LIC’s Jeevan Shiromani – High-Risk Cover Plan most suitable for HNIs and NRIs with great yield.
- LIC Jeevan Lakshya – Complete Family Protection Plan.
What happens to LIC policy for NRI?
Non Resident Indians are free to take an LIC policy when they visit in India and are treated at par with domestic residents. Existing policies taken while in India will continue in Indian Currency even after your moving to foreign countries as NRI. NRI should not be a green card holder.
Can NRI become LIC agent?
of India regulations NRI (Non Resident Indian) or PIO (Person of Indian Origin) can take LIC Policy through Authorized Agents or Financial Advisors appointed by LIC of India and approved by IRDA.
Is LIC maturity amount taxable for NRI?
However, the Maturity amount received under most of the LIC Saving Plans is 100\% Tax Exempted, only maturity from the single premium plans is taxable. This rule applies to everyone whether it is NRIs or domestic residents.
Is salary slip needed for LIC policy?
No, you cannot purchase a term insurance plan without income proof. It is essential, as it helps the insurance company decide the sum assured and the risk involved in insuring the applicant..
Is salary slip required for LIC policy?
You can submit the salary slips received from your employer for the past 3 months or your bank statement for the past 6 months with your salary entries. You can also submit relevant tax-related documents such as your latest Form 16 or your Income Tax returns over the past 2-3 years.
Can Lic be taken by NRI?
NRIs are allowed insurance on their visit to India where all formalities are completed during their stay in India. NRIs may also obtain insurance cover from their present country of residence where all formalities are completed in their present country of residence and this process is called ‘Mail Order Business’.
How can I apply for LIC agent?
Here are the steps to apply for becoming an LIC agent:
- Visit the official website of LIC.
- Click ‘Be an Agent (Individual)’ under Join Our Team menu tab.
- Click ‘Apply-Now’ located on right side of the page.
- Fill in the application form to take it ahead with the branch office.
Premium can be paid at Cash Counter of LIC (International) branch office by cash (in local currency or USD) / by Cheque. Cheque should be drawn in favour of LIC (International) only. Premium amounts can also be transferred directly to bank account of LIC (International) in the respective country through Telex Transfer.
Is PAN card mandatory for LIC policy?
PAN card is now a mandatory tool for any investment, saving, or online transaction. Keeping this mind, Life Insurance Corporation of India (LIC) has asked its customers to link their PAN card with LIC policies as soon as possible.