Should Returning NRIs Build Their Financial Base with Bajaj Life's Solutions?
Life insurance forms the foundation of a stable financial plan during this phase. Bajaj Life Insurance Plans for NRIs offer insurance solutions that focus on financial protection and structured long-term planning, helping families maintain stability while adapting to life in India.
Understanding the Financial Landscape for Returning NRIs
Once you relocate to India, your financial framework changes significantly. You shift from overseas taxation systems to Indian tax regulations, and daily expenses are now aligned with domestic inflation and cost structures.
Common concerns among returning NRIs include:
● Preserving accumulated savings: Ensuring overseas earnings are planned efficiently against long-term inflation in India
● Continuity of goals: Staying on track with goals such as children’s education or home ownership
● Financial protection: Managing rising healthcare and living costs while safeguarding family income
Tax planning also becomes a priority. Understanding how your insurance products are taxed in India versus abroad can be a significant factor in your financial planning. Life insurance plans in India are designed with these specific concerns in mind. They offer a dual advantage of financial protection and tax efficiencies that complement a diversified financial plan.
Bajaj Life ULIP Tax Provisions for NRIs
Unit-linked insurance Plans (ULIPs) can be considered by returning NRIs who want life cover alongside long-term, market-linked planning.
A ULIP is a life insurance product. It offers life insurance coverage and allocates a portion of your premium in market-linked funds (equity or debt). This allows you to aim for potential market-linked outcomes over the long term alongside life cover. The investment risk in the investment portfolio is borne by the policyholder.
Tax Treatment Under Indian Laws (subject to conditions)
The benefits of investing in India for NRIs are notable, especially regarding taxes:
● Tax-Exempt Maturity: Under Section 10(10D) of the Income Tax Act, the maturity proceeds from your life insurance policy are generally tax-free. This applies if the premium paid in any year does not exceed 10% of the sum assured. (Note: Specific conditions apply for ULIPs issued after Feb 1, 2021, with high premiums.
● Deductions on Premiums: You can claim a deduction of up to ₹1.5 lakh on the premiums paid under Section 80C of the Income Tax Act (under the old tax regime).
● Long-Term Planning: Since ULIPs have a 5-year lock-in period, they encourage disciplined saving. This helps your corpus accumulate over time, while providing life cover.
By choosing a ULIP from Bajaj Life Insurance, you are purchasing a life insurance policy with a market-linked component to help achieve your financial goals.
Building a Financial Protection Base with Bajaj Life Insurance
Financial planning is not a one-size-fits-all process. It changes as you move through different stages of life. Bajaj Life Insurance Plans for NRIs offer a life stage approach to help you build a solid foundation.
Step 1: Secure the Foundation with Term Insurance
Term insurance is designed to provide financial security to dependents. It functions as an income replacement tool, ensuring that financial obligations do not fall on family members in the event of an unforeseen loss.
For returning NRIs, a term plan can help cover:
● Outstanding loans
● Household expenses
● Long-term family responsibilities
This step establishes a strong protection foundation before focusing on other financial goals.
Step 2: Accumulate a Corpus for Goals
After securing financial protection, insurance plans with maturity benefits can help align with future financial needs.
● Endowment and ULIP plans support structured planning over time
● These plans aim to build a maturity benefit while maintaining life insurance coverage
● Suitable for milestones such as higher education expenses or other long-term family goals
Step 3: Manage Financial Flexibility
Certain life insurance policies offer features that can support liquidity needs, subject to policy terms and conditions:
● Loan facilities against policy value
● Planned payouts in specific policy types to support cash flow
These features add flexibility while keeping long-term objectives intact.
Conclusion
Relocating back to India is an opportunity to rebuild and realign your financial priorities. A strong insurance foundation can help manage uncertainties while supporting long-term stability.
By exploring the benefits of investing in India for NRIs, you can choose Bajaj Life Insurance’s plans that focus on protection, tax efficiency, and structured planning. Whether through term insurance or ULIPs, these solutions help create a financial base that supports your family’s future as you begin this new chapter in India.