- 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/
Logo:
https://mma.prnewswire.com/media/2494377/Tata_AIA_Life_Insurance_Logo.jpg
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