Life Wealth Plus aims to meet growing demand for long-term financial protection and savings solutions among the global Indian community
PRAVASISAMWAD.COM
LIC International, the overseas arm of Life Insurance Corporation of India (LIC), has launched a new life insurance product aimed at Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and other members of the global Indian community.
The newly introduced plan, Life Wealth Plus, combines life insurance protection with long-term savings benefits and is designed to cater to the financial planning needs of Indians living abroad. The launch reflects increasing demand for structured insurance and wealth-management products among expatriate Indians, particularly in the Gulf region, where a large section of the Indian diaspora maintains strong financial links with India.
Company officials said the product seeks to provide policyholders with financial security while offering flexibility in premium payments and policy tenure. The plan is expected to appeal to overseas Indians looking for a combination of protection, savings and future financial stability.
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Industry experts note that the NRI insurance market has witnessed steady growth in recent years due to rising disposable incomes, greater awareness of financial planning and increasing demand for family protection products
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Overseas Indians continue to play a significant role in India’s financial ecosystem through investments, remittances and long-term savings
The launch comes amid intensified competition among insurers seeking to expand their presence in international markets. Companies are increasingly focusing on digital platforms and customised products to serve expatriate customers more effectively.
LIC International has maintained a strong presence in several overseas markets, especially in the Gulf Cooperation Council (GCC) countries. The company believes the new offering will strengthen its engagement with Indian expatriates seeking reliable financial solutions backed by one of India’s largest insurance institutions.
Analysts expect the move to boost competition in the overseas insurance sector while providing additional options for Indians living abroad to secure their financial future.
