Ageas Federal launches multi-currency ULIP at GIFT City
In short
Ageas Federal Life Insurance has launched a new plan at GIFT City called the Aurum Advantage Plan. It lets people invest in US dollars, euros or pounds and still get life cover, with a minimum of $3,000, €3,000 or £3,000.
This matters for NRIs, OCIs, PIOs and other customers who want insurance in foreign currency. The reporting does not say how many people will buy it or how it will perform.
What the reporting says
Ageas Federal Life Insurance launched its first GIFT City product, the Aurum Advantage Plan, which lets customers invest in US dollars, euros or pounds while receiving life cover. The plan is open to customers of any nationality, including NRIs, OCIs and PIOs, with a minimum investment of $3,000, €3,000 or £3,000. The immediate effect is a new cross-currency insurance product, but sales traction is not stated.
Why it matters
Ageas Federal Life Insurance launched its first GIFT City product, the Aurum Advantage Plan, as a multi-currency ULIP that allows investment in US dollars, euros or pounds with life cover. The plan is open to customers of any nationality, including NRIs, OCIs and PIOs, with minimum investments of $3,000, €3,000 or £3,000. The reporting does not state uptake or revenue impact.