The NRI ULIP Maturity Tax Calculator 2026 has been launched to help NRIs understand their tax obligations on Indian insurance policies. According to Toolisky, this calculator checks exemption eligibility, ₹2.5 lakh premium limits, taxable gains, LTCG and 4% cess for Tax Year 2026-27. The tool is designed for NRIs, returning Indians, overseas professionals with Indian policies, and CAs handling NRI tax work. For applicable ULIPs issued from 1 February 2021, the calculator evaluates the premium-to-sum-assured condition and the ₹2.5 lakh aggregate premium rule. For non-ULIP policies issued on or after 1 April 2023, the ₹5 lakh aggregate premium rule applies, with current equity-oriented capital-gains rates at 20% for applicable short-term gains and 12.5% for qualifying long-term gains above the ₹1.25 lakh Section 112A threshold.
Non-Resident Indians (NRIs) living in Saudi Arabia can purchase term insurance from Indian insurers, according to reports from Day of Dubai. Indian insurers offer special plans designed specifically for NRIs to ensure financial security for their loved ones, regardless of their current location. The availability of such coverage becomes particularly relevant given the current uncertainty in West Asia, making it strategically important for Saudi Arabia-based residents to secure term insurance that is payable in India. Additionally, NRIs can now purchase travel insurance for Malta from India, with plans starting at just ₹20 per day offering comprehensive coverage including medical expenses, trip cancellation/delay, and loss of baggage and passport protection.
As reported by Day of Dubai, eligible candidates must be Indian citizens holding valid Indian passports and living outside India as non-resident Indians, overseas citizens of India, or persons of Indian origin. Most insurers allow applications from people aged between 18 and 60 or 65 years, with coverage amounts selected to cover financial liabilities till age 85 or 99 years. Applicants must provide identity proof documents including a duly filled passport and first and last pages of Iqama, address proof such as rental agreements and utility bills, income proof including salary slips and employment contracts, and health-related documents including medical history and potential examinations through video consultation. For travel insurance specifically, plans require disclosure of any pre-existing medical conditions like BP, diabetes, heart disease, or cancer for which regular medication is taken.
According to Day of Dubai, term insurance plans sold in Gulf countries tend to be expensive when compared to term plans bought from Indian insurers. Indian insurance plans ensure that nominees receive claim amounts in Indian Rupees directly without any hassles, which is particularly beneficial since dependents would need Indian Rupees for daily expenses. Premium payments can be made through NRE or NRO accounts or other digital modes of international money transfer, with the option to set up automatic debit for future premiums. Additionally, tax benefits are offered by term life insurance plans for NRIs in India, with dependents not having to pay taxes on claim amounts and premium payments helping save taxes on taxable income in India. The ₹5 lakh aggregate premium rule applies to non-ULIP life insurance policies issued on or after 1 April 2023, while the ₹2.5 lakh ULIP premium rule remains the key threshold for applicable ULIPs issued from 1 February 2021.
As reported by Day of Dubai, most insurers offer worldwide claim settlement facilities, ensuring protection regardless of location. The entire process can be completed online from the comfort of home while living abroad, including filling registration forms, paying premiums, and completing medical examinations through video consultation. This digital approach eliminates the need for international travel, making the process more accessible for NRIs living in Saudi Arabia. The 24/7 global protection feature ensures that policies remain active whether applicants are working in Saudi Arabia or enjoying holidays in their hometown, providing constant financial security for family members.
