Policybazaar Launches Dollar-Linked Protection Plans via GIFT City IFSC

Eliminating Exchange Rate Volatility for NRIs

Policybazaar announced on July 27, 2026, a new strategic initiative to market U.S. dollar-denominated term insurance. These plans, offered in partnership with various insurers, target non-resident Indians (NRIs) seeking to align their insurance payouts with their overseas living expenses. By facilitating both premium payments and claim settlements in dollars, the platform aims to mitigate the risk of rupee depreciation, a persistent financial concern for the Indian diaspora.

India’s Regulatory Reach Through GIFT City

This development utilizes the infrastructure of the International Financial Services Centre (IFSC) in GIFT City, Gujarat. Historically, NRIs had to rely on foreign financial hubs for dollar-linked products. The IFSC now allows global Indians to access these sophisticated instruments while operating under the domestic oversight of Indian regulators. Policybazaar's entry into this space represents a maturation of the local ecosystem, providing products that mirror international standards.

Bridging the Gap Between Policy and Consumer

Vivek Jain, Chief Business Officer-Life Insurance at Policybazaar, noted that GIFT City has established a new framework for financial products tailored to global Indians. Jain stated that the platform's objective is to move these opportunities beyond the theoretical ecosystem and into the hands of customers through a streamlined digital interface. Key benefits of these plans include:

• Direct protection against currency fluctuations.
• Seamless dollar-to-dollar transactions for premiums and benefits.
• The security of Indian regulatory compliance for international residents.

Source: The Hindu — Business