UAE, US, and Saudi Arabia fuel NRI demand for term and health insurance in India
health insurance products, driven by increased financial awareness, the impact of the COVID-19 pandemic, and competitive premiums in India. With a growing customer base in regions like the UAE, US, and Saudi Arabia, NRIs are increasingly turning to these insurance options to protect their families and secure healthcare benefits back home.
Rising Demand for NRI Term Insurance
NRIs now make up 12% of India’s total term insurance customers, with a compound annual growth rate (CAGR) exceeding 50% over the past two financial years, according to new data released by Policybazaar. The pandemic has acted as a wake-up call for many NRIs, underscoring the importance of life insurance as a financial safety net. Competitive premiums in India, coupled with the convenience of purchasing policies online, have made term insurance an attractive option.
A majority (61%) of NRI term insurance buyers fall between the ages of 31-40, a period typically associated with peak professional growth and family responsibilities. Many in this age group have dependents—spouses, children, or elderly parents—prompting them to secure their families' future.
(Join our ETNRI WhatsApp channel for all the latest updates)
Gender dynamics have also shifted, with the share of female policyholders growing from 4% to 11% between FY 2023 and FY 2025. This reflects a growing trend of financial independence among women, especially in the post-pandemic landscape, where more women are actively involved in financial planning.
Artificial Intelligence(AI)
Java
