LIC for OCI holder

Hi everyone,

We moved to Toronto 5 years before and eventually became citizen of Canada. Before coming to Canada , I had about 6 policies and for which I am religiously paying instalments. but a few days back, one of my friend told me that LIC does not cover for someone who is not citizen of India. So I am really scared of my investments , which I have done in LIC so far.
I have OCI card ( Overseas Citizen of India ).
So, my worry is that If my investments are secured or I wasted my whole money and never going to get back any thing. I will appreciate to get the advise of the forum on this. Thanks in advance to everyone.

Harpal

It all depends upon when you bought these policies and what details you entered in the proposal form.

If you bought the policy in India, before moving out of India or becoming NRI then all good.
If you bought later on which out informing the insurance company than you are NRI or OCI, then the insurance company can deny the claim.

Best thing is write a letter to LIC telling them that you have these policies (no of policy) and now you are OCI and this is your new address etc.