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Gurugram, May 13, 2025: One of the largest online insurance platforms in India, the policy market has started a comprehensive suit of initiatives in line with the needs of non -resident Indians (NRIs) and their families living in India. With a sharp attention to the offering of significant financial benefits and reliable alder care solutions, these initiatives aim to address two of the most pressured concerns for NRIs: strength and peace of mind.
Why NRI is turning to Indian health insurance
The increasing number of NRIs is choosing for health insurance in India, not only for their families but also for themselves. Data suggests that 30% of NRI customers buy health plans for their own healthcare during frequent visits or during preparation to return to India, while 70% of parents want to cover loved ones such as parents, husband -wife and children living in India.
India also offers an attractive price offer. Health insurance premium is at least 35% lower than countries such as the United States, Canada, Gulf Nation or Europe. Additionally, the cost of medical procedures, drugs and consultations in India is 70% to 90% lower than in most western countries, making high quality care to a fraction of the cost.
This ability combined with India’s increasing reputation in medical tourism has promoted the growth of the segment, with a 70% increase in NRI health insurance market in FY 202223, 140% in FY 2023-24 and an estimated 130% in FY 2024-25.
Currently, 50%of NRIs of Policy Bazaar are from the Gulf region, followed by 23%from Europe, 13%from North America, and the rest spread to Asia and other regions.
Special Financial Benefits for NRI
To further reduce the financial burden, Policybazaar, together with the leading insurance partners, is offering NRI-specific benefits such as:
- 40% discount on premium: NRIs are available for nRIs who maintain a no-calm status on submission of valid documents such as passports and international residence evidences.
- 18% GST refund: Applied to the annual premium paid through NRE accounts, subject to the required KYC, address and banking documentation.
- Multiplication and annual policy savings: Rebate up to 15% rewards long -term policy commitments.
- Low overall premium: Indian health schemes sold via Policybazaar, on average, GCC, USA, Canada and UK are 35% more cost effective than similar offerings, help NRIs insure their families without compromising on quality.
NRI Care Program, a reliable lifeline for elderly parents
Concerned deeply about the health and well-being of the aging parents for life for NRIs, Policybazaar has launched the NRI care program in partnership with top insurers. This service is designed to provide personal and reliable assistance, including:
– 24/7 emergency helpline and claim assistance: A rapid response setup ensures timely support in immediate situations.
– Hospitalized coordination: Services like Kansia to manage hospital admission, documentation and discharge.
-Ector-on-Call and OPD coverage: Followed medical guidance, minor treatment, and followed without the need to be hospitalized.
– Wellness and Emotional Support: Addressing the mental and emotional welfare of seniors, addressing tools and resources, isolation and inaction.
-Fast-Tract Claims Processing: On-ground assistance is provided within 30 minutes during an emergency, NRIS peace is offered that their loved ones are never abandoned.
,Our effort is to face the NRI frequently to reduce double burden, managing their lives abroad, ensuring their families in India ensuring that financially protected and well taken care of.,” Said Serbvir Singh, CEO of Joint Group, PB Fintech,With these offerings, we are associated with intelligent financial solutions with deep sympathetic care support. This is about giving assurance to NRIS that his loved ones are protected with the same care and skill that they will expect anywhere in the world,
About policybazaar:As one of India’s largest insurance brokers, Policybazaar is committed to making insurance accessible, transparent and personal for every Indian and global customer. Since 2008, Policybazaar empowered more than 80.5 million registered users, released 49.3 million policies, and helped protect 9 million families against death, illness and disability.
India’s digital insurance aggregator space with a major market share of more than 93% in the over In the 15,000 crore annual premium collection (FY24), the policy market works with 50+ insurance partners who offer products in health, life, motor and corporate insurance. The company supports customers with a 24/7 digital assistance and an on-ground team of 6,000+ insurance advisors, which ensures an innate experience in all touchpoints.
For more information, go to www.policybazaar.com. All discounts are provided by the insurers as per IRDAI approved insurance schemes. Apply T&C.
For media questions, please contact:
Avneet kaur chadha
PR and Corporate Communication, Policybazaar.com
avneetsethi@policybazaar.com
Pay attention to readers: This article is part of the paid consumer connect initiative of HT and is made independently by the brand. HT does not consider an editorial responsibility for the material, including its accuracy, perfection, or any error or omission. Readers are advised to verify all the information independently.
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