Spedfast,
If you are an Expat going to work in India, my suggestion to you, and this is what i did, keep your LOL insurance valid in your home country.
Without wanting to be rude about the way things are in India, i would find it very unlikely that they would cover, and even more unlikely they would payout to an expat.
Of course, i could be wrong.
Enjoy flying in India, keep the TCAS and EGPWS on full bright and be patient with ATC and you will have a laugh everyday.
Check out this thread
http://www.pprune.org/south-asia-far...t=subcontinent
Cheers
ROJ