NRI LIC Policy Servicing
An LIC policy bought in Ahmedabad does not stop working when the policyholder moves to Dubai, Toronto or Melbourne. Everything — premiums, nominee updates, revival, maturity and death claims — can be handled from abroad, but the paperwork has an extra layer that trips people up.
Jigisha Kiran Shah services LIC policies for Gujarati families settled abroad, most of them originally sold to a parent or bought before the move, and coordinates with the branch in India so nobody has to fly back for a form.
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Paying premiums from abroad
- ·Premiums can be paid from an NRE or NRO account, by international transfer, or by an NACH mandate on an Indian account that a relative maintains.
- ·An NRO account is the usual route: it holds rupee balances and is designed for exactly this kind of payment in India.
- ·Paying from a foreign account directly is possible but slower, and a delayed credit is one of the most common causes of an accidental lapse for NRIs.
- ·If the policy has already lapsed, revival is available on the same terms as for a resident, including the health declaration.
Documents that differ for an NRI
- ·Passport, and the visa or residence permit for the country of residence
- ·Overseas address proof, and an Indian address if one is maintained
- ·PAN, which remains mandatory for most policies and for maturity payouts
- ·KYC documents attested or apostilled as the branch requires — the requirement varies by country and by branch
- ·NRE or NRO bank details for payouts, with the account held in India
Claims and maturity payouts
- ·Maturity and survival-benefit payouts are made in India, in rupees, to the policyholder’s NRO account. Repatriation abroad is a separate step governed by FEMA and RBI limits, handled by your bank.
- ·A death claim is paid in India to the nominee’s account, and the nominee does not need to be an NRI for this.
- ·Tax deducted at source can apply to NRI maturity proceeds, and relief under a double-taxation agreement may be available. This is a question for your chartered accountant, with the LIC certificate in hand.
- ·Documents signed abroad usually need notarisation or apostilling before the branch accepts them, so it is worth confirming the exact requirement before couriering anything.
What can be done without travelling
- ·Nominee change and address change, with the form signed and attested abroad
- ·Revival of a lapsed policy, including the health declaration
- ·Duplicate policy document, if the original was lost in the move
- ·Premium mode change and NACH mandate setup
- ·Maturity and death claim initiation, with document follow-up handled at the branch
- ·A full policy review by video call, across all policies the family holds
NRI LIC Policy Servicing — common questions
Can an NRI hold an LIC policy?
Yes. NRIs can hold LIC policies, and existing policies continue after emigration. Premiums are usually paid from an NRE or NRO account, and the policy remains governed by Indian insurance and foreign-exchange rules.
How does an NRI pay LIC premiums?
Through an NRE or NRO account, by NACH mandate on an Indian account, or by international transfer. Most families use an NRO account because it is built for rupee payments in India and avoids the delays that cause accidental lapses.
Can an NRI claim LIC maturity proceeds abroad?
LIC pays maturity proceeds in India, in rupees, to the policyholder’s account. Moving the money abroad afterwards is a separate remittance step under FEMA and RBI rules, handled by your bank, and tax deducted at source may apply in India.
Do NRI documents need to be notarised or apostilled?
Usually yes for signatures executed abroad. The exact requirement depends on the document and the branch, and can differ by country. Confirm before couriering originals — replacing a lost policy document is slower and more expensive than checking first.
What happens next
- WhatsApp opens with your name, phone and goal filled in — press send there to reach Jigisha.
- You get a reply on WhatsApp or a call back, Mon–Sat, 9 AM–6 PM.
- First consultation is free — by phone, on WhatsApp, or in person at the Shela office.
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Check the official terms
Plan features on this page are simplified summaries. Benefits, bonus rates, eligibility and exclusions are set by LIC and can change — always read the current sales brochure and policy document before you buy.