This surge in NRI interest in term and health insurance highlights their focus on financial security and healthcare, with more women becoming actively involved in long-term planning
The demand for term and health insurance among non-resident Indians (NRIs) has seen a significant rise due to growing financial awareness, the impact of the COVID-19 pandemic, and competitive premiums. NRIs in regions like the UAE, US, and Saudi Arabia are increasingly investing in insurance policies to secure healthcare and protect their families’ futures in India, economictimes.indiatimes.com reported.
One key driver of this trend is the increased emphasis on financial planning, especially after the pandemic underscored the importance of life insurance. NRIs, particularly in the 31-40 age group, are prioritizing term insurance to ensure their families are safeguarded. The availability of competitive premiums and easy online access has made insurance policies more appealing. Currently, NRIs account for 12% of India’s term insurance market, with growth rates exceeding 50% in the last two years.
Female participation in term insurance has also seen an upsurge, with the proportion of female policyholders rising from 4% to 11% between 2023 and 2025. This trend reflects increasing financial independence among women. High-income NRIs in the US and UK tend to opt for higher coverage amounts, driven by their elevated living costs and incomes.
Health insurance demand has grown similarly, with a 140% rise in FY 2023-24 and an additional 100% increase projected for FY 2024-25. NRIs value access to India’s healthcare system, especially for elderly family members, as global healthcare costs continue to soar. Features like global coverage and immediate access to treatment for pre-existing conditions are becoming increasingly sought after.
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