Living abroad opens doors to new career opportunities, diverse cultures, and a comfortable lifestyle. Attracted by these advantages, more people are choosing the NRI lifestyle over time. However, they remain concerned about the health and well-being of their parents or loved ones living in India. 

A 2024 insurance report has revealed that the hospitalisation expenses in India have increased by 11.35%. When you’re not physically present with your loved ones, having health insurance will protect them financially in the event of a medical emergency. 

What’s more, you can easily renew Indian health insurance abroad, ensuring continuous coverage for your loved ones. Here’s a step-by-step guide you can follow.   

Table of Contents

Step-by-Step Guide for NRI Insurance Renewal Process

Benefits of NRIs in Buying Health Insurance for Parents in India

Legal & Financial Considerations When Buying Health Insurance in India

Frequently Asked Questions?

Step-by-Step Guide for NRI Insurance Renewal Process 

The steps for online health insurance for NRI renewal are as follows: 

Step 1: Log in to your account from the website or mobile application of the insurance provider.

Step 2: Locate your policy that is due for renewal and select the renew option.

Step 3: Check all the details and ensure that the sum insured is enough to cover the medical expenses of your parents in India.

Step 4: Pay the premium using your NRE (Non-Resident External) or NRO (Non-Resident Ordinary) accounts or any other form of online payments like cards, netbanking, etc.

Step 5: You will receive an instant confirmation of the payment, and upon approval of the renewal application, the confirmed policy details will be reflected in your account. 

Benefits of NRIs in Buying Health Insurance for Parents in India 

Being an NRI, investing in a best health insurance policy for parents in India is a sound decision. Here’s why: 

1.     Covers Medical Inflation 

Medical costs in India are rising rapidly every year. Whether it's a routine health check, surgery, hospitalisation, or various other treatments for critical illnesses, the bills may turn into lakhs in a short span of time. A comprehensive health insurance policy will help reduce your financial burden in times of adversity. 

2.     Caters to the Financial Dependence of Parents 

With age, health issues become more likely for older parents, increasing their financial dependence on their children. Under such circumstances, being an NRI, it may not always be possible for you to come to India and arrange funds to deal with your parents’ healthcare emergencies. 

Having a health insurance policy for Indian parents allows them to quickly access quality medical care without the hassles of arranging finances. This also gives you peace of mind knowing that your loved ones will be taken care of during such crucial times. 

3.     Provides Access to Cashless Treatment 

In case of unanticipated health emergencies, a reliable health insurance policy helps provide access to quality healthcare services without any last-minute hassle. NRIs can also make cashless claims at the network hospitals expeditiously. 

4.     Tax Benefits 

For NRIs, the health insurance premiums paid for their dependent parents are tax-deductible. You can claim up to Rs 50,000 as deductions under section 80D if your parents are senior citizens when you file your income tax return.   

Legal & Financial Considerations When Buying Health Insurance in India 

There are certain additional financial and legal criteria for NRIs when buying a health insurance policy in India. Check them out below: 

1. Health insurance providers mostly cover medical expenses incurred in India only.
2. In some cases, insurers may restrict the maximum sum insured for NRI policyholders to a certain limit.
3. With an active health insurance policy, NRIs can avail of continuous medical coverage throughout their visits to India.
4. The premium for an Indian health insurance policy has to be paid in Indian rupees (INR).
5. Claims made throughout the tenure will be settled in INR only.
6. NRIs can also save around 18% GST on health insurance premiums if they are paid through an NRE (Non-Resident External) account. 

With increasing age, the susceptibility to chronic diseases or critical illnesses increases, which can be financially burdensome if you’re not backed by health insurance. With a reliable policy, you can ensure quality healthcare services for your loved ones while living abroad. Choosing the right plan will help you navigate through tough times with ease. 

FAQs About How NRIs Can Renew Indian Health Insurance from Abroad 

1.     Can NRIs renew health insurance for their relatives remotely? 

Yes, most health insurance providers offer online renewal facilities, making it easier for NRIs to renew health insurance for their relatives from anywhere in the world. They also send reminders through email and SMS, and payments can be made through online channels within a few minutes. 

2.     Can I pay premiums for my parents’ insurance from my NRE account? 

Payment mode can differ from insurer to insurer. Some insurance providers accept payments from NRE accounts, while others mandate the use of NRO accounts. However, there are various other online channels as well, like debit/credit cards, bank transfer, etc. 

3.     Will health insurance bought by an NRI cover treatment outside India? 

Standard health insurance policies typically cover hospitalisation and treatment within India only. However, some insurers offer international coverage riders, but they typically have a specific limit or charge a higher premium for these add-ons. Check all the policy terms to see if it includes overseas coverage.

4.     Can NRIs renew a health insurance policy after expiry in India? 

After policy expiry, the insurance providers offer a grace period, which starts immediately after the expiry date and generally ranges between 15 and 30 days, depending on your policy terms and conditions. NRIs can easily renew their health insurance plans within this grace period without any hassles. 

5.     What happens if I miss renewing the policy while I’m overseas? 

If you miss renewing your policy while living abroad, you may lose various continuity benefits, such as a no-claim bonus. However, you can utilise the grace period offered by various insurance providers to renew the plan and enjoy uninterrupted benefits without any policy lapse.