# Is Indian life/term insurance valid if you move to Australia?



## kettlerope (Aug 12, 2014)

Hi Guys,

I am planning to buy a term insurance (life insurance). I am not sure if it's valid if one moves to Australia. I checked with selling agents but I don't trust them much knowing they will never say 'no' as they have to sell it. If any Indian who moved to Australia and is carrying (continuing) term insurance from an Indian insurance company, please advise.

Thanks!


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## kettlerope (Aug 12, 2014)

Can seniors from India help please? Thanks.


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## happybuddha (Sep 28, 2012)

Your best option is to confirm with the seller of the policy. 
I personally dont think there should be a problem. What difference does it make _where _you die ? The last time I spoke about my LIC with a friend I was told the policy will pay even if you die on foreign soil. However, I don't know if this will change if one obtains a foreign citizenship. You may want to ask about the validity in case you change your citizenship. It will be great if you can post back the results. 
Cheers


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## mainak (Feb 14, 2014)

I checked this with my agent... he said once you land in Oz then send a formal notice to LIC to update them about your NRI status.. post that there will be no issue in claim if such unfortunate happens. However, if you do not disclose/update LIC that now you are living in foreign soil then the process will be tangled, assume a hell of door to door knocking to take your money back. Finally, I do not know about the after-math for citizenship change - may be that also you can discuss with your agent and update us..


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## varunkhunger (Oct 20, 2010)

kettlerope said:


> Hi Guys,
> 
> I am planning to buy a term insurance (life insurance). I am not sure if it's valid if one moves to Australia. I checked with selling agents but I don't trust them much knowing they will never say 'no' as they have to sell it. If any Indian who moved to Australia and is carrying (continuing) term insurance from an Indian insurance company, please advise.
> 
> Thanks!


Hi Kettlerope

I am also in the similar situation. Did you buy the policy in India and was it valid in Aus for you as a NRI?
Please reply as it will help me to decide. Thanks in Advance.


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