by Guest » Sat May 16, 2009 02:48 pm
hello...i hav a lic policy taken abt 6yrs back ...nw i hv moved in africa and living here for the last 5 yrs wit my family.....ihave a resident ac in india and pay all my premiums thro that ...my brother is the nominee and looks after all the formalities...recently he hs sent me a form QUESTIONS TO BE ANSWERED BY A NON_RESIDENT OF INDIA FR LIFE INS.given to him by my agent to be filled and returned ..wud like to kw if it is necessary to fill and submit d form.will my policy remain active ...and if yes wt are d benefits..watin fr a response!!!!
Posted: Sun May 17, 2009 02:10 am Post Subject:
yes it it necessary to fill out the form as so many NRI's who lives outside India just get dual tax benefit, so in order to curb/have a check on this practice Govt of India through IRDA and RBI has recently issued this form.
One's policy will not be lapsed but surely one will have a hard time to take the tax benefits of the policy.
:wink:
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