Archive · 27 Jul 2026
Policybazaar Launches Dollar-Denominated Term Insurance for NRIs
Policybazaar has launched a new term insurance product that is denominated in US dollars, specifically designed for Non-Resident Indians (NRIs).
This product aims to protect NRIs from the depreciation of the Indian Rupee, which has decreased by about 3% annually over the past three decades.
The insurance helps NRIs manage dollar-denominated liabilities such as overseas mortgages, foreign education, and family support.
The product is offered through GIFT City, India's International Financial Services Centre (IFSC), and uses a digital-first model to make the onboarding and medical underwriting processes convenient and accessible.
Policybazaar plans to expand its offerings to provide more international-standard risk products for the global Indian diaspora.
Policybazaar launches dollar-denominated term insurance for NRIs via GIFT City.
The Indian Rupee has depreciated by nearly 3% annually against the US Dollar over the last three decades.
The new product aims to bridge the protection deficit for NRIs with dollar-denominated liabilities.
The digital-first model allows remote onboarding and medical underwriting.
Policybazaar plans to expand digital access to international-standard risk products for the global Indian diaspora.
- Who
- Policybazaar, a leading insurance platform in India
- What
- Launched a dollar-denominated term insurance product for NRIs
- When
- The launch date is not specified in the article
- Where
- The product is available via GIFT City, India's International Financial Services Centre (IFSC)
- Why
- To address the protection deficit faced by NRIs due to the depreciation of the Indian Rupee against the US Dollar
Advantages of Dollar-Denominated Insurance
Challenges and Considerations
Protection Against Currency Depreciation
Advantages of Dollar-Denominated Insurance
The dollar-denominated term insurance protects NRIs from the depreciation of the Indian Rupee, ensuring their coverage remains valuable against dollar-denominated liabilities.
Challenges and Considerations
NRIs must consider the potential fluctuations in exchange rates and the associated risks.
Accessibility and Convenience
Advantages of Dollar-Denominated Insurance
The digital-first model allows NRIs to complete onboarding and medical underwriting remotely, making the process convenient and accessible.
Challenges and Considerations
The digital process may pose challenges for those who are not tech-savvy or comfortable with online procedures.
- Company
- Policybazaar
- Product
- Dollar-Denominated Term Insurance
- Target Audience
- Non-Resident Indians (NRIs)
- Location
- GIFT City, India
- Key Executive
- Vivek Jain, Chief Business Officer, Life Insurance, Policybazaar
- Currency Depreciation
- Indian Rupee has depreciated by nearly 3% annually against the US Dollar over the last three decades