- The company launches its branch, based at Gujarat International Finance Tech-City (GIFT City), India’s first International Financial Services Centre (IFSC)
- NRI consumers can now purchase dollar denominated policies from the company’s website https://international.tataaia.com
AHMEDABAD, India, Sept. 3, 2024 /PRNewswire/ — Tata AIA Life Insurance Co. Ltd. (Tata AIA), 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.
Venky Iyer, Managing Director & Chief Executive Officer, Tata AIA, 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.
The Company also plans to introduce Unit Linked life insurance products soon, giving consumers the prospect to benefit from exciting investment opportunities in global equity markets.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA) is a joint venture Company formed by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world, spanning 18 markets in the Asia Pacific region. Website: https://www.tataaia.com/
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