NEW DELHI: Tata AIA Life Insurance Co. Ltd, one of India’s leading life insurance agencies, has recently launched its offshore branch at Gujarat International Finance Tech-City (GIFT City), India’s first International Financial Services Centre (IFSC).
The branch aims to provide Non- Resident Indians (NRIs) with US dollar denominated life insurance through its website.The managing director and CEO, Tata AIA, 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.”
The insurance plan covers many risks including death, accident, disability, and critical illness, for up to 100 years of age.
In a press release, the company said, consumers would have the liberty to choose from five plan options to suit their coverage according to their lifestyle, medical history, and occupation. These plans 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.
Tata AIA also plans to introduce unit linked life insurance products soon, giving consumers the prospect to benefit from exciting investment opportunities in global equity markets.
Tata AIA is a joint venture by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA). Tata group was founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.