Geographical barriers are no longer an impediment for NRI consumers who want to purchase term insurance in India, as per an article by ANI Press Release.
They may now choose from a variety of programmes in India that allow them to arrange a video or telemedical examination from their own country.
The epidemic has highlighted the need for technology in insurance underwriting. During this period, virtual healthcare has also evolved as a realistic option for millions of people seeking excellent care.
When the pandemic first broke out, underwriting standards were tightened, clients were required to pass a physical examination and coverage limits were regulated. Now that the rules have been relaxed, NRIs can receive bigger coverage, and they can do so by choosing telemedical rather than physical medical exams to make term insurance more affordable.
These plans are available for NRIs online, selecting the one that best meets their needs, and filling out an application form. Payment of the premium can also be made online using net banking or credit or debit cards.
After that, a video or telemedical check-up is scheduled, taking into account one’s medical history and evidence of pre-existing ailments. Your application will be accepted and the insurance will be provided once the insurer has given your supplied reports a green light.
Due to its adequate advantages and inexpensive pricing, term insurance policies in India are in high demand from NRIs all over the world. The necessity to travel for a physical examination has been eliminated with telemedical check-ups, making the plan even more cost-effective and accessible.
In comparison to India, the cost of term plans for NRIs is roughly 50-60% more in numerous other countries. Even as COVID-19 variants make travel more unpredictable and uncertain, video check-ups provide a safer, faster and easier option to get term insurance.
Term insurance is the purest type of insurance and is necessary to safeguard one’s dependents in the event of the unexpected death of an earning family member. This plan is especially important for NRIs who frequently live in different countries and want to assure a secure financial future for their families.
Even when they are not present, a term plan offers an extra layer of security to their safety net. For millions of NRIs throughout the world, the purchase process has become more frictionless and hassle-free thanks to telemedical check-ups.
