subject: Insurance for NRI – A Necessity with its own Benefits [print this page] For all those non resident Indians it is indispensable to understand what kind of bank accounts they need to hold and what type of insurance policies they need to a enrol. If you want to enjoy tax exemptions on your income, then you must register for an insurance policy, pension plan, tax saving fund and other certifications. These have good returns and will serve you good to enjoy tax exemptions.
Besides this, it also offers a feeling of security for your parents or spouse at home. You can also relax with the thought that you have insured them well to avert any future financial calamity. This way, you are prepared for any inevitable medical expenses or hospitalization charges that may crop up in your home town. It eases the stress away from your old parents who can make use of cashless hospitalization. Thus, prevent any hassles for the senior citizens back at home.
Dual benefits of having an insurance in place are:
It offers a secured feeling and protects you in times of an inevitable medical expense.
It offers tax exemption on your income.
There is no more worry about having left your family back at home. The insurance company will come to their assistance, in your absence. Before signing up for one, analyse the pros and cons of the policy. See if there are any limitations to the policy. For instance, some policy may not cover pre-existing ailments. Such policies will not be suitable for your aged parents who are already suffering from some kind of ailments. Do not hesitate, make enquiries on the NRI insurance plans and see how it can benefit your folks at home and offer you peace of mind. All health insurance policies provide cashless hospitalization benefit across India in case of an illness and accident. The similarity, however, ends here. Each insurer has its own set of coverage terms and conditions.
Insurance for NRI A Necessity with its own Benefits
By: Kirthy Shetty
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