Tata AIA Life opens offshore branch at GIFT City

The products offered target non-resident Indians (NRIs).

Tata AIA Life Insurance (Tata AIA) has launched its offshore branch at Gujarat International Finance Tech City (GIFT City), India's first International Financial Services Centre (IFSC). 

This new branch will offer US dollar-denominated life insurance products specifically for Non-Resident Indians (NRIs).

“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 fulfil their aspirations,” Venky Iyer, Managing Director & Chief Executive Officer, Tata AIA, 

The branch will start with the Life Protect Supreme plan, which provides USD-denominated policy benefits and covers risks such as death, accident, disability, and critical illness up to the age of 100. 

The plan includes five options allowing NRIs to customise coverage based on lifestyle, medical history, and occupation. Additional benefits like accidental death coverage, critical illness coverage, and premium waiver for accidental total and permanent disability are also available.

Tata AIA plans to launch Unit Linked life insurance products in the near future, offering investment opportunities in global equity markets.