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The Economic Times
The Economic Times
Sneha Kulkarni

NRIs can now buy term insurance in USD from India: Policybazaar explains how new plan protects against currency risk

Policybazaar India United States Insurance US Dollar GIFT City

Non-Resident Indians (NRIs) looking to buy US dollar-denominated term insurance plans in India will now have an option as Policybazaar has started offering such plans through its partner insurers. NRIs can buy such insurance plans through India’s International Financial Services Centre (IFSC) at GIFT City, Policybazaar said in a statement on Monday.

The new product 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, Policybazaar said.

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