• On their visit to India. All the formalities of proposal completion, medical examination reports/Special reports and Moral hazard report are required to be completed during their stay in India.
• From their present country of residence through Mail Order Business. All the formalities of proposal completion, obtaining medical & special reports etc are to be completed in the present country of residence. (Only NRIs)

• The copy of Income Tax Return filed in the country of residence, if the Sum Assured exceeds Rs.15 lacs.
• If no Income Tax return is filed , then a copy of employment contract mentioning Salary or a certificate from a C.A. regarding business / other income.
• Personal Financial Questionnaire (PFQ) duly filled in and signed by the proposer and counter signed by the official filling in the MHR can also be accepted as proof of income upto a Sum Assured of Rs.25 lacs.

• By cheques drawn on his/her Non-Resident (External) Account or Foreign Currency (Non-Resident) Account with a Bank in India (or Joint Account provided the policyholder is one of the account holders)
• By cheques drawn on bank accounts held in India in their own names, either solely or jointly with the resident member of their family. i.e. father ,mother, husband, wife, children, brother or sister whether the accounts have been designated as Non-Resident or not.
• By cheques drawn on an account maintained by a resident parent or spouse of the Non-Resident policyholder with a bank in India, held solely or jointly with their close relatives. If the life assured is a bonafied student, premiums can be accepted if paid in India, by somebody else on his behalf.
• By the absolute assignee in India wherever such policies have been assigned to a resident in India.
• By the employers in respect of policies issued to their employees who have been deputed abroad by them.
• Premiums can be paid in cash by a resident parent or spouse of the Non-Resident policyholder subject to his/her submitting a letter stating the relationship with the policyholder.

• Non-resident beneficiaries of Insurance claims/maturity/surrender value settled in foreign currency may be permitted to credit the same to NRE (Non-Resident External)/ FCNR (Foreign Currency Non-Resident) Account if they so desire.
• Claims/maturity proceeds/Surrender Value in respect of rupee life insurance policies issued to non-resident Indians for which premiums have been collected in non-repatriable rupees may be paid only in rupees by credit to NRO (Non-Resident Ordinary) account of the beneficiary. This would apply in cases of death claims being settled in favour of non-resident assignees.

As per Section 115C of Indian Income Tax Act, 1961 Foreign Exchange Asset means any Specified asset which the assessee has acquired or purchased with, or subscribed to in, convertible Foreign exchange.

• Shares in an Indian company;
• Debentures issued by an Indian company which is not private company as defined in Companies Act, 1956;
• Deposits with an Indian company which is not private company as defined in Companies Act, 1956;
• Any security of the Central Government as defined in clause (2) of section 2 of the Public Debt Act, 1944;
• Such other assets as the Central Government may specify in this behalf by notification in the Official Gazette.

Foreign Exchange for the purpose of the above means foreign exchange, which is for time being treated by Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Regulation Act, 1973(46 of 1973), and any rules made thereunder.

• Automatic Approval Route.
• Prior Approval from Government Route.
• Presently most of the activities are under Automatic approval Route i.e 100% FDI. No approval is required for FDI in case of activities under Automatic Route only a notification to RBI is required within 30 days.

• An NRI should open a new bank account with designated bank branch which is approved by RBI (Reserve Bank of India) for this purpose.
• He should apply for a general approval for investment in Indian Stock Market through his designated bank branch.
• He should open a Demat Account with a Depository Participant to hold his shares.
  He needs to register with a broker to execute his buy/sell orders on the stock exchange(s).

• Govt. securities(other than bearer securities), treasury bills or units of domestic Mutual Funds;
• Bonds issued by PSUs;
• Shares in Public Sector Enterprise disinvestments by Govt. of India;
• Fund for such investment are to be received through foreign inward remittance or to debit of NRE/FCNR accounts.

• Purchase a property out of forex.
• Acquire a property by way of gift from a ROI.
• Acquire a property by way of inheritance from a Resident or a person Resident outside India who had acquired such property in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or FEMA.
• Sell any immovable property in India to a Resident.
• Gift or sell agricultural property to a Resident who is a citizen of India.
• Gift or sell a residential or commercial property in India to a Resident or person Resident outside India.