Can NRI or Foreign Nationals repatriate the claims/maturity proceeds/ surrender value of the policy outside India?
A. Repatriation outside India, means the buying or drawing of foreign exchange from an authorized dealer in India and remitting it outside India through normal banking channels or crediting it to an account denominated in foreign currency or to an account in Indian currency maintained with an authorized dealer from which it can be converted in foreign currency. Yes, NRI or Foreign National can repatriate claims, maturity proceeds or surrender value of policy outside India, however, this would depend to a very large extent on the kind of account from which the premium has been remitted and the manner in which the claims etc are to be repatriated.
