New Delhi, Aug. 20 -- Many young professionals purchase a term plan in India while working here. But what if, a few years later, they take up a job overseas and their tax status changes from resident to non-resident Indian? Will their policy continue to provide cover on foreign soil? Yes.

Term plans bought in India remain valid even after one becomes an NRI. But policyholders must fulfil certain formalities to ensure their cover continues seamlessly. Here's what you need to know to ensure your policy stays active and provides seamless coverage.

"The key point is, when you move abroad, you must write to your insurer and declare your change of status. Policies remain valid, but companies generally ask you to update your KYC or submit a ch...