One of the most common doubt among new NRIs are about their bank accounts e.g. what happens to their bank account, Fixed deposit, Demat accounts, brokerage accounts, and insurance policies when they become non-resident Indian? Well, once your residential status changed from resident Indian to non-resident there are certainly few changes in your financial accounts. For example, your resident account needs to be converted into NRO account. You also become eligible to open NRE (Non-resident external) account. Similarly, once you become NRI you need to inform your bank about your fixed deposits, brokerage accounts, and insurance policies.
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Due to a lack of information on particular words specified in the car insurance policy document, most car owners buy a car insurance policy based on its coverage and premium but do not grasp its terms and conditions. As a result, using the policy becomes more difficult. As a result, before acquiring a vehicle insurance plan, it is advisable to familiarise yourself with the most prevalent car insurance dictionary words. To help you make an informed decision, let's look at some of the most common phrases related to vehicle insurance. Terms Commonly Used Among the often used terms are: · Covers with Add-ons Additional insurance coverage, known as add-ons or riders, can be purchased in addition to a Comprehensive Plan. These plans are not available as a standalone cover or in combination with a Third-Party Plan. Coverage or service-related add-on covers are also possible. A Zero Depreciation Add-on, for example, is more of a coverage-enhancing add-on, whereas a Roads
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