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GURUGRAM, India, May 16, 2025 /PRNewswire/ — Policybazaar, one of India's largest online insurance platforms, has launched, through its insurance partners, a comprehensive suite of initiatives tailored to the needs of Non-Resident Indians (NRIs) and their families residing in India.
Why NRIs are Turning to Indian Health Insurance
An increasing number of NRIs are opting for health insurance in India, not just for their families but also for themselves. This is because India offers an attractive value proposition. Health insurance premiums are at least 35% lower than in countries like the USA, Canada, Gulf nations, or Europe. Additionally, medical procedures, medicines, and consultations in India cost 70% to 90% less than in most Western countries, making high-quality care accessible at a fraction of the cost.
Exclusive Financial Benefits for NRIs
To further ease the financial burden, Policybazaar, in collaboration with leading insurance partners, is offering NRI-specific benefits such as:
- Up to 40% Discounts on Premiums: Available to NRIs who maintain a no-claim status upon submission of valid documentation like a passport and proof of international residence.
- 18% GST Refund: Applicable for annual premiums paid via NRE accounts, subject to necessary KYC, address, and banking documentation.
- Multi-Year and Annual Policy Savings: Discounts of up to 15% reward long-term policy commitments.
- Lower Overall Premiums: Indian health plans sold via Policybazaar are, on average, 35% more cost-effective than similar offerings in the GCC, USA, Canada, and UK.
NRI Care Program, A Trusted Lifeline for Elderly Parents
For NRIs deeply concerned about the health and well-being of ageing parents back home, Policybazaar has introduced the NRI Care Program in partnership with top insurers. This service is designed to provide personalised and dependable support, including:
- 24/7 Emergency Helpline and Claims Assistance: A rapid-response setup ensures timely support in urgent situations.
- Hospitalisation Coordination: Concierge-like services to manage hospital admissions, documentation, and discharge.
- Doctor-on-Call and OPD Coverage: Timely medical guidance, minor treatments, and follow-ups without needing hospitalisation.
- Wellness & Emotional Support: Tools and resources to maintain seniors' mental and emotional well-being, addressing isolation and inactivity.
- Fast-Track Claims Processing: On-ground assistance is provided within 30 minutes during emergencies, offering NRIs peace of mind that their loved ones are never left unsupported.
"Our endeavour is to ease the dual burden NRIs often face, managing their lives abroad while ensuring their families in India are financially protected and well cared for," said Sarbvir Singh, Joint Group CEO, PB Fintech.
About Policybazaar
As one of India's largest insurance brokers, Policybazaar is committed to making insurance accessible, transparent, and personalised for every Indian and global customer. Since 2008, Policybazaar has empowered over 80.5 million registered users, issued 49.3 million policies, and helped protect 9 million families against death, disease, and disability.
All discounts are provided by insurers as per IRDAI approved insurance plans. T&C Apply.
Contact:
Simran Bhatia,
simranbhatia@policybazaar.com
