Hello there

Sign in with

Welcome Back!

Sign in to Continue



By continuing, you agree to the updated Terms and conditions, Privacy Policy.

Forgot password?

Nice to meet you

We see you’re not a member yet. Sign up to get started.


By continuing, you agree to the updated Terms and conditions, Privacy Policy.

It’s done!

You have successfully created your account.

Forgot Password?

No worries. Enter your email ID and we’ll send you a mail to reset your password.

Reset Password?

Reset your password.

Email sent!

You have successfully sent the reset password email to your email id.

You have successfully reset your password. Login with new credentials.


How can NRIs get a GST Refund on Health Insurance Policies?

Author: Team Finpage
Tuesday, May 14, 2024

As the world evolves and NRIs navigate the intricate tapestry of career progression and wealth creation, the spotlight turns to a pivotal aspect often overlooked – health insurance. In a landscape where healthcare costs can escalate in the blink of an eye, health insurance becomes not just a choice but a financial safety net. What adds a touch of financial wisdom to this narrative is the recent development in tax refunds, making health insurance from India an even more attractive proposition for NRIs.

The tax advantage: A game-changer in health insurance for NRIs

NRIs, already juggling multiple financial responsibilities, can now breathe a sigh of relief as the tax winds blow in their favour. An 18% GST refund on Indian Health Insurance plans becomes a beacon of affordability in a landscape dominated by rising healthcare costs. The path to this financial boon begins with understanding ‌who, what, and how.

Who qualifies?

The NRI investor -, the individual initiating and applying for the health insurance policy while residing in another country. The policyholder, in this case, must get a tick mark in each criteria qualifying them as a Non-Resident Indian (NRI). While the policyholder enjoys NRI status, insured members might not necessarily need it, with criteria varying among insurers.

Navigating the criteria: A VIP pass to savings

To get a favourable and secure financial process, the policyholder's payments should originate from an NRE (Non-Residential External) account, with premium payments executed annually. It's a straightforward formula: NRI status + NRE account payments + Annual Premiums = 18% GST refund. These criteria, while simple, hold the key to unlocking substantial savings for NRIs in the long run.

Documents: The requisites

For NRIs seeking GST refunds, it's absolutely essential to submit proper and correct documents. The KYC (Know Your Customer) documents are utterly necessary for ensuring legitimacy and consistency across providers. The person will have to produce – a PAN card, international address proof, Tax Residency Certificate, passport, and a recent photograph. The international address proof allows NRIs to showcase their residency abroad for over 182 days and prove eligibility.

The Act Now Moment: A window into financial wisdom

Why act now? The present moment holds the key to securing not just health coverage but a financial advantage for NRIs. As the trend of NRIs returning to India gains momentum, especially for retirement, health insurance becomes a strategic move. Acting now ensures a safety net for life, especially as health issues become more probable with age.

Conclusion: Financial empowerment

NRIs emerge not just as beneficiaries of health coverage but as the ones benefiting from financial empowerment. The eligibility criteria and the documented journey become tools for financial prudence, turning health insurance in India into a preferred vehicle for NRIs.

So, NRIs seeking not just health coverage but a tax advantage can be assured that they will get a very cordial ecosystem to deal with. With GST refund eligibility on health insurance, ‌ every financial move is a step towards a financially enlightened future.

Team Finpage

Latest Comments

No Comments



Refrain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks, name calling or inciting hatred against any community. Help us delete comments that do not follow these guidelines by marking them offensive. Let's work together to keep the conversation civil.

We see you’re not a member yet. Sign up to get started.
Already member Sign in


Be the first one to know about latest happenings in the InsurTech sector. Click below to subscribe to our newsletter!