Ageas Federal Life Insurance has unveiled its new Aurum Advantage plan, marking its entry into Gujarat International Finance Tec-City (GIFT City), India's premier International Financial Services Centre (IFSC). This multi-currency Unit Linked Insurance Plan (ULIP) is designed to cater to customers with international financial interests, offering both life insurance protection and diverse investment opportunities.
What is the Aurum Advantage Plan?
The Aurum Advantage plan allows investors to choose from three major global currencies: US Dollar (USD), Euro (EUR), or British Pound (GBP). This unique structure enables significant diversification across both geographies and asset classes. Customers can invest in international equities, fixed income instruments, and gold, providing a comprehensive portfolio solution.
Key Features and Benefits
- Multi-Currency Investment: Invest in USD, EUR, or GBP, protecting against single-currency exposure.
- Diverse Asset Classes: Access global equities, fixed income, and gold markets.
- Flexible Payments: Offers multiple premium payment options tailored to individual needs.
- Partial Withdrawals: Provides a partial withdrawal facility with no lock-in period, enhancing liquidity.
- Comprehensive Benefits: Includes maturity benefits, loyalty additions, and death benefits, subject to applicable terms and conditions.
The minimum investment for the Aurum Advantage plan is set at 3,000 units of the selected currency (USD 3,000, EUR 3,000, or GBP 3,000).
Accessibility for Global Investors
A key aspect of the Aurum Advantage plan is its broad accessibility. It is available to customers of any nationality, irrespective of their residential status. This includes Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), and Persons of Indian Origin (PIOs), significantly expanding its potential reach beyond residents in India.
Ageas Federal's Strategic Move into GIFT City
The launch of Aurum Advantage signifies a strategic expansion for Ageas Federal Life Insurance into the international financial market. Jude Gomes, Managing Director and CEO of Ageas Federal Life Insurance, highlighted the growing demand from customers with international financial interests for solutions that allow cross-currency and cross-market investments. He stated that the Aurum Advantage plan directly addresses this need by integrating multi-currency investment options with crucial life insurance protection.
Operating from GIFT City provides Ageas Federal Life Insurance a robust platform to serve clients across key international markets, including the Middle East, North America, Europe, the UK, Singapore, and Australia. The company also plans to enhance its GIFT City portfolio in the near future, with intentions to introduce term insurance and pension products, further solidifying its position in the global financial services landscape.