How NRI Policyholders can Pay Premiums

A Non Resident Indian can pay Insurance Premiums in the following ways:

A) Direct payment from abroad in foreign currency through normal banking procedure

B) Direct payment from abroad in foreign currency through normal postal procedure (foreign money orders)

C) Payment out of his Non Resident External Account or Foreign Currency Non Resident Account

D) Cheques drawn on bank accounts in India held in his name (solely or jointly) whether or not the account has been designated as Non Resident

E) Cheques drawn on accounts maintained by his resident parent or spouse in their own name or joint names with other close relatives

F) Rupees obtained by the policyholder by encashment of drafts

Remember: When the premiums are paid from a resident source the claim if any on the policy will not be allowed for remittance outside India

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