What to skip — ULIPs, endowment, "money-back", agent-pushed riders
The contrarian read: most agents push these because the commission is high. They're terrible products. Plus the niche cases (property in India, students abroad) where you might actually want extra cover.
Property in India
For NRIs with apartments, houses, or land in India — owner-occupied, rented, or vacant.
₹3-8K/year for ₹50L-1Cr structure + ₹5L contents. Cheap relative to the asset, but most NRIs skip it — fire, flood, theft on a vacant property is the actual risk. Vacant + rented properties need explicit cover beyond standard.
Most comprehensive home cover for NRI-owned property. Structure + contents + tenant default cover + vacant property cover all bundled. Online claim filing — useful when you can't physically be there.
Strong on natural disaster cover (flood, earthquake, cyclone) — particularly important for coastal cities (Mumbai, Chennai, Kochi, Goa). Quick claim settlement for vacant properties. Mobile app for ongoing policy management.
Studying abroad
For Indian students going to the US, UK, Canada, Australia, or Europe to study.
Already covered by the university plan? Most US/UK universities require insurance and auto-enrol students in their own plan ($2,000–$4,000/year). That covers care on campus — but not when you fly home to visit parents between semesters. The moment you land in India, the university plan stops paying.
Indian student travel insurance covers both — medical care while studying abroad and during India trips — plus the things university plans rarely include: study interruption (forced to drop out due to illness), sponsor protection (fees keep getting paid if your parent passes), baggage and flight delays. ₹15–50K total for 1–5 years of cover. Buy in India before flying out — options narrow once you're abroad.
Most comprehensive student product on the Indian market. US, UK, Canada, Australia, Schengen all covered. Includes study interruption + sponsor protection + dental. Strong claims network across major university towns.
Strong on cashless network in US + UK. Lower premium than Tata AIG for similar core cover. Best if you have an existing ICICI bank relationship — bundling discounts apply.
5-minute online policy issuance — useful for last-minute departures. Decent core cover including pre-existing-disease cover for life-threatening emergencies. Schengen-compliant for Europe-bound students.
Traveling to India
For NRIs visiting India 1-3 times a year — and the math on annual vs single-trip.
Already covered by your US/UK employer plan? It's not enough. Most employer plans only cover emergency care abroad — and only after you pay the Indian hospital upfront, then file for reimbursement (paperwork hell). Routine visits, follow-ups, pre-existing flare-ups, and medical evacuation typically aren't covered. Some Kaiser HMO and ACA marketplace plans exclude India entirely.
Indian travel insurance closes the gap for the cost of a couple of cocktails — cashless treatment at network hospitals (no upfront pay), medical evacuation from remote areas, trip cancellation, baggage, flight delays. Single-trip ₹500-2,000; annual multi-trip ₹3-5K wins at 2+ visits a year.
Best overall for NRIs. Strong overseas claims network, 24/7 multilingual emergency support, includes medical + trip cancellation + baggage. Annual multi-trip is the sweet spot if you visit 2+ times.
Strong cashless network, fastest claim turnaround in the segment. Lower premiums than Tata AIG for similar cover. Best if you have an existing ICICI bank relationship.
Quickest online issuance — policy in your inbox in 5 minutes. Decent for last-minute trips. Add-on for adventure activities (rafting, treks) if you're combining the visit with adventure travel.
Property in India
For NRIs with apartments, houses, or land in India — owner-occupied, rented, or vacant.
₹3-8K/year for ₹50L-1Cr structure + ₹5L contents. Cheap relative to the asset, but most NRIs skip it — fire, flood, theft on a vacant property is the actual risk. Vacant + rented properties need explicit cover beyond standard.
Most comprehensive home cover for NRI-owned property. Structure + contents + tenant default cover + vacant property cover all bundled. Online claim filing — useful when you can't physically be there.
Strong on natural disaster cover (flood, earthquake, cyclone) — particularly important for coastal cities (Mumbai, Chennai, Kochi, Goa). Quick claim settlement for vacant properties. Mobile app for ongoing policy management.
Studying abroad
For Indian students going to the US, UK, Canada, Australia, or Europe to study.
Already covered by the university plan? Most US/UK universities require insurance and auto-enrol students in their own plan ($2,000–$4,000/year). That covers care on campus — but not when you fly home to visit parents between semesters. The moment you land in India, the university plan stops paying.
Indian student travel insurance covers both — medical care while studying abroad and during India trips — plus the things university plans rarely include: study interruption (forced to drop out due to illness), sponsor protection (fees keep getting paid if your parent passes), baggage and flight delays. ₹15–50K total for 1–5 years of cover. Buy in India before flying out — options narrow once you're abroad.
Most comprehensive student product on the Indian market. US, UK, Canada, Australia, Schengen all covered. Includes study interruption + sponsor protection + dental. Strong claims network across major university towns.
Strong on cashless network in US + UK. Lower premium than Tata AIG for similar core cover. Best if you have an existing ICICI bank relationship — bundling discounts apply.
5-minute online policy issuance — useful for last-minute departures. Decent core cover including pre-existing-disease cover for life-threatening emergencies. Schengen-compliant for Europe-bound students.
❌ Insurance you can probably skip
ULIPs (Unit Linked Insurance Plans) — terrible product for NRIs. High commission, opaque fees, returns lag pure mutual funds by 2-3% annually. Buy term life + invest the difference in mutual funds.
Personal accident / disability cover (standalone) — usually a rider on existing health insurance is cheaper and adequate.
Vehicle insurance for cars you don't drive in India — if your car sits at parents' or in your closed parking, the bare-minimum third-party cover (₹2-3K/year) is enough; don't pay for comprehensive on a non-driven vehicle.
Long-term endowment plans / "money-back" insurance — these mix insurance + investment and do neither well. Same mutual-fund-vs-ULIP logic applies.