Some NRIs might consider health insurance in India as more of a backup than a necessity, something that could wait or perhaps isn’t really needed at all. However, it seems that a majority of NRIs think otherwise now.
A growing number of non-resident Indians are now actively buying health insurance plans for their families in India and, in many cases, even for themselves. According to data from Policybazaar, an online insurance marketplace, about 70 per cent of NRI customers choose policies to cover parents, spouses, or children living back home. The remaining 30 per cent are buying plans as a fallback for themselves, either for visits or with an eye on eventually returning.
What’s behind this uptick? Affordability is a big part of the story.
Health coverage in India is considerably cheaper than in most countries where NRIs live and work. Premiums are roughly 35 per cent lower, and the cost of actual treatment, hospital stays, consultations, even medication, can be around 70 to 90 per cent less than what one might pay in North America or Europe. This is another reason why many NRIs are choosing to lock-in Indian health insurance plans.
However, the interest here is not just about saving money.
For many NRIs, the concern is also about managing their parents’ health here in India, while they reside in a foreign country. Such a situation often comes with anxiety and helplessness for both the children and parents. This is where initiatives like the NRI Care Program, introduced by insurance partners via Policybazaar, have struck a chord.
This service helps NRIs with round-the-clock emergency support, hospitalisation coordination, doctor-on-call services, and even wellness and emotional health tools for their elderly parents, a detail that seems to be resonating more now, especially post-COVID.
There’s also a fast-track claims setup that promises on-ground assistance within 30 minutes in an emergency, which has been reassuring for families separated by distance and time zones.
Industry Offering NRI-Exclusive Benefits
Financially, NRIs are also benefited with the certain exclusive benefits that sweeten the deal, such as up to 40 per cent discounts for maintaining a no-claims record, GST refunds (18 per cent) for premiums paid via NRE accounts, and additional savings for multi-year policy commitments.
The shift in behaviour is evident in the numbers. According to a Policybazaar analysis, the NRI health insurance market witnessed 70 per cent growth in FY 2022–23, 140 per cent in FY 2023–24, and an estimated 130 per cent in FY 2024–25. The data shows the largest share of NRI buyers come from the Gulf region (about half), followed by Europe and North America.
In a time when healthcare costs are rising globally, India’s mix of affordability, familiarity, and improving service standards is giving NRIs something that’s hard to put a price on: a little more peace of mind.
