Policybazaar unveils international term insurance plans via GIFT City

Hyderabad: Policybazaar has started offering US dollar-denominated term insurance plans of its partner insurers for NRIs through India’s International Financial Services Centre-GIFT City.

The launch allows NRIs to pay premiums in US Dollars and receive claim payouts in the same currency, addressing one of the biggest but least discussed financial risks faced by Indians living overseas – currency depreciation.

Vivek Jain, Chief Business Officer, Life Insurance, Policybazaar, said, “GIFT City has created the foundation for a new generation of financial products for global Indians.

Our role at Policybazaar is to ensure that these opportunities don’t remain limited to the ecosystem, but reach customers in a simple and accessible manner.

We see ourselves as the bridge between world-class financial solutions and the evolving needs of NRIs, helping them access products that are aligned with where they live, earn and plan their future.”