NRI Alert! Don’t Fall for the Myth That You Don’t Need Insurance in India!
A few days ago, during a get-together with an old college friend visiting from Dubai, the conversation drifted from nostalgia to “adulting.” He casually mentioned how he’d cancelled his life insurance in India soon after moving abroad. This surprised me.
“Didn’t make sense anymore,” he said, shrugging. “I’ve got great coverage here. Why pay double?”
It wasn’t the first time I’d heard that line. Over the years, I’ve come across so many friends and clients who’ve echoed the same sentiment - “I’m settled abroad, I don’t really need anything in India now.” For many, it’s not even a conscious decision, it’s an assumption that somewhere feels... logical.
But here’s the interesting part - even though NRIs are earning more and building global assets, very few actually hold active insurance policies in India.
Now, I’m not here to preach about why insurance is “good” - we all know that story by heart. This is a reality check. The goal here is to unpack why it’s still smart and sometimes even crucial for those living abroad to maintain or take up an insurance policy back home.
Sure, the argument can go both ways. Maybe you’re planning to settle permanently in Canada or already have your PR stamped in Australia (or anything - not pinning to these 2 countries alone). Perhaps your family’s joined you, your assets are moving there, and you’ve got no plans to return. In that case, the idea of India-based insurance might sound unnecessary. But not so much because once your condition is stable or the treatment becomes “long-term” (like cancer therapy, dialysis, or rehabilitation), you’re usually repatriated to your home country - India, to continue the treatment.
Also, if there’s any connection - parents still living here, investments parked in India, plans of returning someday, or simply wanting a financial safety net tied to your roots, then the discussion changes entirely.
Because here’s the thing: insurance isn’t just about where you live. It’s about where your life still matters.
Why? Let’s Get Real for a Moment…
Because insurance isn’t about ticking a box, it’s about peace of mind. It’s about that 3 AM moment when something goes wrong, and you’re not left wondering, “How will I manage this?”
And did you know, despite all the glamour of living abroad, healthcare accessibility in many countries isn’t as convenient as India?
Take the US, UK, or Canada for instance. There’s a waiting list for almost everything. A client once told me that her cousin had to wait nearly 6 months just to see a specialist. Even for something as simple as a flu or a toothache, appointments can take weeks. You can’t just walk into a clinic like you can here and say, “Doctor, I’m not feeling well. Can you see me today?”
In India, we often underestimate this privilege - the ability to walk into a hospital, get treated the same day, and recover surrounded by family. It’s not just healthcare; it’s care in the truest sense.
And these aren’t just stories I’ve heard - they’re experiences I’ve witnessed. Let me know two very recent instances that happened last week. I had two clients with completely opposite outcomes.
The first, an NRI from Dubai, was covered under her corporate health plan there. She felt she didn’t need a second policy in India. During her vacation here, she suddenly required a medical procedure - nothing major, but urgent enough to derail her trip. Unfortunately, her UAE policy didn’t cover her expenses in India. She had to pay everything out of pocket, and by the time she purchased her Indian policy later, the damage both emotional and financial was already done. Her “holiday” turned into a costly reminder of why having backup protection matters.
The other story? A gentleman from the US, whose children were settled there, but who spent a few months each year in India. He had a long-pending surgery scheduled, but in the US, the appointment was available only after four months. In India, he managed to get it done within a week - seamlessly, comfortably, and entirely cashless thanks to his secondary Indian health insurance. His words after recovery?
“I never thought this small decision would save me so much time, stress, and money.”
These stories aren’t exceptions - they’re quiet reminders that life doesn’t always follow our “plans.”
But while these instances speak about health insurance, there’s another side we often ignore - Life Insurance. It isn’t just about leaving behind a payout; it’s about preserving stability and dignity for those who matter most. A policy in India ensures that if life takes an unexpected turn, your family isn’t caught in legal or financial complexities across borders. It gives them immediate access to funds in familiar currency, in a system they understand - when it matters most.
So here’s the truth: never see insurance as an expense.
The moment you treat it like a liability, you’ve missed its purpose. Insurance isn’t just another bill, it’s the shield that protects your biggest asset - YOU. While you work hard to build wealth, don’t forget to secure the person building it.
I’ll always advise you this - have your primary insurance in the country where you live, but keep a backup policy in India. Whether it’s for your visits, your family here, or simply peace of mind - that extra layer of protection can make all the difference when life throws a surprise your way.
Be smart. Protect yourself. Because while you may have left India, your heart and often your health - hasn’t left your home.
💬 Let’s have a quick chat and make sure you’re covered wherever life takes you.
Feel free to check out your insurance policy quotes here 👉 Click To Know More
Akash Neelakantan Salvady
Wealth Manager at Infiniti Financial Services