Tata AIA Life Insurance one of India’s leading life insurers, has announced the launch of its offshore branch at Gujarat International Finance Tech-City (GIFT City), India’s first International Financial Services Centre (IFSC).
The Branch will offer US dollar-denominated life insurance products to Non-Resident Indians (NRIs), through its website https://international.tataaia.com.
Tata AIA Managing Director & Chief Executive Officer Venky Iyer said, “The setting up of IFSC GIFT City is a remarkable step by the Government of India towards widening the scope of Indian financial services. It provides a great opportunity for insurers to provide foreign currency-denominated products. We are delighted to introduce life insurance solutions for our NRI consumers, enabling them to secure their families and fulfill their aspirations.”
The Company will commence operations with a unique term offering USD denominated Life Protect Supreme, enabling policy benefits in US dollars. The Plan covers risks such as death, accident, disability, and critical illness, for up to 100 years of age. NRI Consumers can choose from five plan options to tailor their coverage according to their lifestyle, medical history, and occupation.
The Plan options offer flexibility to include add-on benefits (Riders) such as accidental death benefit, critical illness cover, and waiver of premium on accidental total and permanent disability.
