My uncle has listed me as a beneficiary for two LIC policies with maturity dates in 2027. I am an Indian born US citizen. I do not have OCI. How can I get the insurance money transferred to my US bank account? Can I get this amount to my US Bank account without going through the long process of opening NRE or NRO bank accounts?
I can provide my US bank information to my uncle and he can pass it on to LIC. Is this the way to get this done? I will declare this to IRS when filing tax return.