Term Life Insurance after R2i

chennaichalo · Post by **chennaichalo** » Tue Mar 30, 2010 9:42 am

Can we keep our term life insurance after r2i? Paying the premium every year should not be a problem but not sure if there's any fine prints in the terms that would nullify the insurance. I did talk to somebody in Customer Service and they said it should not be a problem. Does anybody have any experience regarding this?

stup123 · Post by **stup123** » Tue Mar 30, 2010 11:04 am

I too sifted through the forums for the exact info

I sat with an insurance agent and he wasnt sure too
but he did get back to me saying its valid in India too..india is not listed in the dangerous countries list,as yet

Spoke to another agent and has confirmed the same
this is NY life
I am still debating but since they r cheap when compared to the policies in India..i think i will go for it..worst case,i will have coverage while i am in india..
since term is for risk coverage,earlier the better

njTohyd2009 · Post by **njTohyd2009** » Tue Mar 30, 2010 10:52 pm

Yes you can.
India is not considered as one of "those" countries so it shouldn't be a problem.
Just make sure that you have updated the email ID and got paperless.
Rest you can do it from India. Making payment and stuff is very straightforward by keeping one account accessible online.

stup123;274165I too sifted through the forums for the exact info

I sat with an insurance agent and he wasnt sure too
but he did get back to me saying its valid in India too..india is not listed in the dangerous countries list,as yet

Spoke to another agent and has confirmed the same
this is NY life
I am still debating but since they r cheap when compared to the policies in India..i think i will go for it..worst case,i will have coverage while i am in india..
since term is for risk coverage,earlier the better

sp_blr · Post by **sp_blr** » Sat Aug 21, 2010 5:37 pm

Can anyone suggest Insurance companies in US that offer 30 years Term Life Insurance with an A++ or an A+ rating. Also, I would prefer that this insurance is covered when I R2I in next 5 years. Any suggestions or guidance would be much appreciated. Thanks

VWbuggy78 · Post by **VWbuggy78** » Mon Aug 23, 2010 2:06 pm

You should give your Indian address just to be sure (so they can't wiggle out saying you gave the wrong residential address). My term life insurance renewal form is mailed to my Indian address. No problems so far.

sp_blr · Post by **sp_blr** » Mon Aug 23, 2010 5:23 pm

VWbuggy78, please let us know which insurance company do you have your term life insurance with?

VWbuggy78 · Post by **VWbuggy78** » Wed Aug 25, 2010 12:43 pm

AAA Life Insurance. But you have to explicitly tell them you are expat-ting in India and that your address is in India. There is a temptation to give your friend's address in the US as your address. This will be tantamount to misrepresenting facts, which can cause your claims to be delayed or denied.

hvn2hm · Post by **hvn2hm** » Wed Aug 25, 2010 3:02 pm

My insurance is with Amica and is valid in India. I was debating whether to keep it or get a new one in India. I haven't explored how much it costs in India. My insurance is for ~$600k and costs me ~$560/yr; male, no major health issues/risks, early forties (geez, can't believe its already middle age). Greatly appreciate if someone could post the cost of carrying a similar coverage.

TIA

VWbuggy78 · Post by **VWbuggy78** » Thu Aug 26, 2010 9:33 pm

hvn2hm, I think AAA should be less expensive. You can apply online and an agent will contact you.