Insurance to Non-Resident Indians (NRIs) 8/31/ C. KARUNAGARAN DEVELOPMENT OFFICER

A non-resident Indian is 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. 8/31/20152 C. KARUNAGARAN DEVELOPMENT OFFICER

 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.  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.  Insurance is allowed to NRIs residing in 175 countries, subdivided in 8 Residence Group mentioned in C.O. Circular No.2056/4 dated subject to conditions  NRIs residing in countries other than those mentioned in Residence groups 1 to 8 should be sent to CUS for individual consideration.  NRIs residing in countries other than those mentioned in Residence groups 1 to 8 should be sent to CUS for individual consideration.  Foreign Nationals of Indian Origin are not to be treated as NRIs for the purpose of allowing insurance. 8/31/20153C. KARUNAGARAN DEVELOPMENT OFFICER

NRIs can be allowed insurance 1. On their visit to India 2. From their present country of residence – known as MAIL ORDER BUSINESS 8/31/20154C. KARUNAGARAN DEVELOPMENT OFFICER

Minimum Sum Assured Rs.2lacs (Sum assured over Rs.2 lacs will be in multiple of Rs.1 lac) for Mail Order Business. Maximum Sum Assured Maximum S.A. for each Residence Group is as mentioned in the circular. A maximum sum assured of Rs.1crore may be allowed under Mail Order Business, i.e., where all formalities are completed in the NRIs present country of residence. The maximum sum assured to be allowed will be in accordance with the existing rules for financial underwriting. 8/31/20155 C. KARUNAGARAN DEVELOPMENT OFFICER

INCOME PROOF Total rated up sum assured (TRSA) (Existing +Proposed) Proof of income required TRSA does not exceed Rs 15 lacs Proposals can be considered on the basis of income income shown in the proposal form and MHR. TRSA exceeds Rs 15 lacs but is up to Rs. 25 lacs Personal Financial Questionnaire (PFQ) TRSA exceeds Rs 25 lacs Copies of Income Tax Returns for last three years filed in the country of residence duly attested by the proposer and his signature witnessed by the DO/ Agent / ABM(S) Or Salary certificate from proposer’s employer Or copy of the employment contract Or Audited balance sheet and profit and loss account of the firm or company if the proposer is a businessman 8/31/20156 C. KARUNAGARAN DEVELOPMENT OFFICER

Insurance above 25 lacs is allowed only to class I occupation such as managerial, skilled, high paying desk job type employment with proof etc 8/31/20157 C. KARUNAGARAN DEVELOPMENT OFFICER

Types of cover All plans will be allowed subject to the following restrictions under “Mail order Business” : - Maximum SA under pure Term Insurance Plans – Rs.25lacs - Term Rider benefit will be allowed up to Rs.25lacs. - Critical Illness benefit will not be allowed 8/31/2015 8C. KARUNAGARAN DEVELOPMENT OFFICER

Non-Medical Scheme Proposal under non-medical (special) scheme will be entertained subject to the following conditions: Proposal under non-medical (special) scheme will be entertained subject to the following conditions: Maximum age at entry – not over 45 years n.b.d. Maximum age at entry – not over 45 years n.b.d. Maximum Sum Assured – Rs.5lacs – based on sum under consideration – i.e., rated up sum assured during last two full years. Maximum Sum Assured – Rs.5lacs – based on sum under consideration – i.e., rated up sum assured during last two full years. Plans not allowed: 2, 43, 52, 58, 133, 143, 160, 164, 177 and term rider Plans not allowed: 2, 43, 52, 58, 133, 143, 160, 164, 177 and term rider Maximum aggregate sum assured of Rs.2lacs under Table Nos. 88, 89, 91, 103, 106, 107, 108, 121, 150, 168. Maximum aggregate sum assured of Rs.2lacs under Table Nos. 88, 89, 91, 103, 106, 107, 108, 121, 150, 168. The proposer should be employed in Government or reputed commercial firm or should be a professional such as Chartered Accountant, Cost Accountant, Engineer, Architect, Management / computer consultant, Doctor, Lawyer, Teacher, Insurance Agent, etc. The proposer should be employed in Government or reputed commercial firm or should be a professional such as Chartered Accountant, Cost Accountant, Engineer, Architect, Management / computer consultant, Doctor, Lawyer, Teacher, Insurance Agent, etc. Non-medical scheme under Mail Order Business will be allowed only if agent visits the present country of residence of the NRIs to complete all formalities. Non-medical scheme under Mail Order Business will be allowed only if agent visits the present country of residence of the NRIs to complete all formalities. MHR by agent in the prescribed format. MHR by agent in the prescribed format. 8/31/20159 C. KARUNAGARAN DEVELOPMENT OFFICER

Moral Hazard Report by Agent The format of special MHR to be filled in by agent when he visits the country of residence of the NRI for completing the formalities is given in Annexure – 2 of the Circular 1923 The format of special MHR to be filled in by agent when he visits the country of residence of the NRI for completing the formalities is given in Annexure – 2 of the Circular /31/ C. KARUNAGARAN DEVELOPMENT OFFICER

Special Questionnaire for Mail Order Business under Medical Scheme If the agent does not visit the country of residence of the NRI for completing the formalities, a special questionnaire has to be filled in by If the agent does not visit the country of residence of the NRI for completing the formalities, a special questionnaire has to be filled in by - the employer in the case of employed persons. - the employer in the case of employed persons. - Dean or Principal of educational institutes in the case of students. - Dean or Principal of educational institutes in the case of students. - personal physician in the case of self-employed / business people. - personal physician in the case of self-employed / business people. 8/31/ C. KARUNAGARAN DEVELOPMENT OFFICER

Foreign Nationals of Indian origin  Maximum S.A to be allowed - 50 lakhs  No mail order business. Only Rupee currency policies to above persons during their stay in India.  Non-medical will not be allowed  Joint lives, plans having higher term insurance element are not allowed.  MHR by CM/ZM’s club members and D.Os after verifying original passport, authenticity of sources of income.  Such proponents to be introduced to M.E by CM/ZM’s club members and MDRT Qualifier Agent. 8/31/201512C. KARUNAGARAN DEVELOPMENT OFFICER

 Non-Resident Questionnaire in the prescribed format to be obtained.  Claim to be paid in India in Indian currency only.  Consent for the above to be obtained in advance and this condition to be typed on the policy.  Residence extra and other restrictive conditions as applicable to Residence Group I to VII. 8/31/201513C. KARUNAGARAN DEVELOPMENT OFFICER