Now you can buy life insurance plans completely online right here.
Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
Kotak e-Invest is a comprehensive Unit Linked Life Insurance Plan that can be customized as per your goals and needs - be it protection; investment; financial security for child or retirement planning.
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and insurance cover against any eventuality.
Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
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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.
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.
There are many reasons why an NRI should invest in India. Here are a few important points to note:
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.
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.
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!
- A Consumer Education Initiative series by Kotak Life
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