Kotak Life

Buy a Life Insurance Plan in a few clicks


Now you can buy life insurance plan online.

Kotak e-Term Plan

Kotak e-Term Plan provides a high level of protection to your loved ones in your absence. Know more

Kotak Guaranteed Savings Plan

Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality. Know more

Kotak E-Invest

Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs. Know more

Kotak Health Shield

Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability. Know more

Kotak Lifetime Income Plan

Kotak Lifetime Income Plan gives you the security of your income continuing throughout your life and in your absence throughout your spouse's lifetime! Know more

Can NRIs Invest in ULIP Plans Offered in India?

Can NRIs Invest in ULIP Plans Offered in India?
  • 16th Mar 2022 |
  • 453

Among all the investment options in India, ULIP is one of the most popular options currently and a lot of people are investing in it. However, what if an NRI wants to invest in ULIP in India? Obviously, there are many questions - “Can non-residents invest in India?” or “Are NRIs allowed to invest in India?” and so on.

Hence, to clear such doubts and learn more about how to invest in ULIPs as NRI, we will go through the regulations concerning the NRIs’ investment options in ULIP in this article. We will also discuss the documents required for the same and highlight other details as well.

Can non-residents invest in India?

Yes, Non-residents can invest in India. As per the Government of India and the regulations of FEMA (Foreign Exchange Management Act), NRIs are allowed to invest in India. The best part is that under the above-mentioned regulations, NRIs can invest in ULIP plans too. It is suggested that as an NRI, you should look through all the ULIP investment options available in India, and select the best ULIP policy in India that fits your investment goals.

Why NRIs should invest in India?

There are many reasons why an NRI should invest in India. Here are a few important points to note:

  • India ranks among the top ten countries of the world in terms of economic growth.
  • NRIs get new investment opportunities from India-based banks and NBFCs.
  • NRIs get a wide range of investment options available in India.
  • From traditional investment options like PPF, Insurances, etc., to modern market-linked investment options like ULIPs, NRIs can invest as per their needs.
  • As an NRI, by investing in India, you get access to your country’s stock market, through options like ULIPs, which allows you to get a bundle of insurance and investment at once. Also, if you plan on a long-term ULIP investment, the possibility of return is much higher.
  • You get a better opportunity to plan your future moves by investing in a market that you know and are aware of.

How to invest in ULIPs in India if you are an NRI?

If you are an NRI, all you need is to have the required documentation and a mode of payment through an Indian bank to invest in India. There may be other minor requirements, but in general, you only need to fulfill the documentation part and have an Indian source of payment for investing in the country. You will be asked for an NRE/NRO bank account in an Indian bank as well.

List of documents NRIs require to invest in ULIP in India?

In order to be eligible to invest in India as an NRI, you must comply with the rules and regulations. Here is a general list of documents required to be submitted by NRIs to invest in India:


The actual list of documents might vary depending on the insurer and their policy.

  • An updated and recent copy of passport for identification and age.
  • Passport size photographs (Recent).
  • Proof of residence (Overseas).
  • Proof of residence (In India).
  • Proof of Income.
  • Overseas Citizenship of India (OCI) or a Persons of Indian Origin (PIO) Card - In case you are a permanent overseas resident having an Indian origin.
  • A copy of form 60 or PAN card (if you have an Indian source of income).

Furthermore, there are some basic documents that are required to comply with the KYC and anti-money laundering norms. The insurer might ask for some other documentation, which must be cleared while selecting a ULIP Policy!

Kotak e-Term Plan


  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492


Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Why Premium Amount for Term Insurance is So Low?

Can I Extend the Tenure of My Term Insurance Plan?

Different Types of Protection Plans

Busting Myths and Facts About Term Insurance Policies

5 Reasons to Buy Term Insurance When You are in Your 30s

What Happens if you Hide Facts in your Term Insurance?

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Term Insurance Calculator - Everythng You Need To Know

Why Buy Term Insurance Even at Rising Rates?

Term Insurance with Critical Illness

Insuring yourself against Ill Health with a Critical Illness Rider

4 Methods to Calculate How Much Term Insurance You Need

Term Plan with Spouse Cover

Why does every working woman need life insurance?

Should Youngsters, Working Couples Buy Term Insurance Plans?

Importance of Term Insurance at Every Stage of Your Life

Everything About Claim Settlement Ratio for Term Insurance

Why Should You Not Take A Term Plan Without Medical Test in India?

Insuring Against Accidents with an Accidental Death Insurance Rider

Advantages & Disadvantages of Term Insurance in India

Term Life Insurance Plan for Smokers vs Non-Smokers

Can Senior Citizens Avail Term Insurance?

Why Surrendering Your Term Plan Policy In The Final Phase Maybe A Bad Idea?

Steps on How to Buy Term Insurance Online

Why Buy Term Insurance Plan With a High Cover?

All About Term Insurance Inbuilt Coverage

Gift Your Father A Term Insurance Plan This Father's Day

What is a short term insurance policy?

Online vs Offline Term Insurance: Which Is The Better Option To Buy

5 Term Insurance Benefits for Single Women

What are incremental term insurance plans?

Term Insurance: Smokers vs Non-Smokers

Is a Term Insurance Policy Portable?

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

Should You Have Multiple Term Life Insurance Policies?

What Should You opt for - Limited or Premium Pay?

10-Year Term Life Insurance Policy - Explained in Detail

4 Reasons Why You Need Critical Illness Cover

Planning For Son or Daughter's Wedding

Why is it important to buy term insurance plan?

Planning For Children's Future

Reasons You Need Term Insurance Plan as a Self-Employed Person

How Does A Term Life Insurance Work in India?

Is Life Insurance Investment Worthy Enough

Ensure Protection Against Death, Disease & Disability With Life Insurance

Is ₹1 Crore Term Insurance Good Enough Cover?

Term Insurance – Why You Must Include In Your Financial Planning?

5 Things To Consider While Buying Term Insurance Plan

Make Your Online Term Plan Your Family's Monthly Pay Cheque

8 Factors to consider before choosing a Critical Illness Insurance

Term Insurance Plans and Policies for Smokers

How Does Term Life Insurance Work? Learn the Benefits

Tips to Choose the Right Term Period for Term Insurance Plan

Insuring Against Disability With Disability Insurance Rider

Individual Life Insurance vs. Group Term Life Insurance

What is Form 16, Form 16 part A, Form 16 part B, Information Required and FAQs

9 Ways to Help Family Members in Financial Trouble

Advantages of Buying Term Insurance in Your 50s

Why Should New Parents Buy Term Life Insurance?

Why Should You Add a Rider to a Term Insurance Plan?

Comparing Term Plans – What Should You Look Out For

How To Choose the Right Term Insurance Plan?

Tax Benefits of Term Insurance in India

Why Term Plan Should Be The First Step To Securing Your Future?

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Why Should You Buy Term Insurance in 2022?

9 Most Frequently Asked Questions on Term Insurance

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

How to Ensure That Your Term Insurance Claims Are Never Rejected?

Make Your Online Term Plan Your Familys Monthly Payout

Does Term Insurance Cover Accidental Death?

How to Identify Term Insurance According to Your Needs?

Understanding Term Insurance Riders

Why 1 Cr Term Plan Is Necessary For Family?

Insurance Policy for Housewife In India

Best Investment Plans for Children - Secure Your Child's Future

Do I Need to Give a Medical Test for Term Insurance in India?

Why Married People Should Buy Term Insurance Under MWP Act?

What All Documents Required For Term Insurance In India?

How Much Term Insurance Do I Need

Is term Insurance Needed for People With No Dependents?

What Are Insurance Riders and How to Choose Them in a Term Plan?

4 Things To Expect From Your Term Insurance Plan in India

Which Term Insurance to Choose: Lump Sum or Staggered Pay-out Plan?

Buying A Term Insurance Plan? Take These Factors into Account

Ideal Features of a Suitable Term Plan - Act Now for a Stress-free Future

Know How to Invest at Every Age for Larger Returns

How To Calculate The Amount Of Term Life Insurance You Need?

How to Surrender Term Life Insurance When you have No Liabilities

Should You Buy a Term Plan After 40?

What is Critical Illness Policy

Does Your Term Insurance Plan Cover Death Due to COVID-19?

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio

Increasing Term Insurance and Riders

What is Insurance Premium - A Detailed Guide

Is Group Term Life Insurance Provided By Employer Sufficient?

Top 3 Reasons Why You Should Buy A Term Plan Now

6 Reasons That Make Term Insurance a Must Buy

Why Term Insurance Is Important in times of COVID-19?

What Are the Best Term Insurance Plans for Planning Retirement?

How Much Term Life Insurance Cover Do I Need in India?

Choosing Riders for Insurance Plans

Can Term Insurance Plans Be Purchased As A Gift?

Is It Good To Buy A Term Insurance Plan In 2022?

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Difference between Term Insurance and Life Insurance

6 Types of Death not covered in Term Insurance Plan

8 Benefits of Term Insurance You Should Know

Term Insurance Basics You Should Know

Can I Get Term Insurance on Behalf of My Spouse?

Endowment Plans vs Term Plans: Understanding the difference

What Types of Deaths Are Covered in a Term Insurance Plan?

What is Term Insurance - A Complete Guide

Different Types of Premium in Term Insurance

How to Compare Term Insurance Online

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

8 Things To Do After Buying Term Insurance

5 Benefits of Early Retirement Planning

Do You Need Term Insurance Cover After Retirement?

Can I Make Changes to My Term Insurance Policy Post Purchase?

Can A Housewife Buy a Term Insurance Plan - All You Need to Know

How to Buy 1 Crore Life Insurance Policy Without Medical Test

How To Change The Nominee in Term Insurance?

What Should Be The Duration Of Your Term Plan in India?

What Is a Renewable Term Insurance Policy?

What Is the Correct Age to Buy Term Insurance?

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

Can I Buy Term Insurance for a COVID-19 Patient?

How Not To Get Your Term Insurance Claim Rejected

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

Do Beneficiaries Pay Taxes on Term Insurance?

Cost of Term Insurance Likely to Increase Soon

Key Differences Between Term Insurance, ULIPs, And Health Insurance

Is There Any Tax Benefit on Term Insurance?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Term Plans are Definitely Cheaper than You Think!

Is Term Life Insurance Plan an Investment or Expense?

How Much Cover Should I Take In A Term Plan?

Can You Increase Your Term Insurance Cover?

Which Death Type Does Your Term Plan Not Cover?

Insuring Protection Against Death With Death Insurance Rider

Term Insurance With Riders In India

Term Insurance: What Happens When You Don’t Pay Your Premiums?

Calculating Term Insurance Premium

Term Insurance Age Limit – Term Plan for All Age Groups

Eligibility Criteria for Buying Term Insurance in India

Why should single women purchase term life insurance?

What are the Documents Required for Term Insurance Plan?

Why Term Insurance Is Better Than ULIP?

While Buying Term Insurance Compare Features, Not Just Premiums

Protection for your family

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

All you need to Know about Term Insurance Plans for Housewives

How To Choose the Right Sum Assured Under a Term Plan?