Gandhinagar: Two HDFC Bank group companies are all set to commence operations from GIFT City – IFSC in Gandhinagar, Gujarat. HDFC International Life and Re will offer U.S. Dollar-denominated life and health insurance solutions for Non-Resident Indians (NRIs) from GIFT City – IFSC under the brand name HDFC Life International, the parent company HDFC Life announced today.

HDFC Life International will cater to NRIs and the global Indian diaspora, offering insurance solutions that are not limited by borders. These products can be purchased using foreign currency such as the US Dollar. The full range of solutions offered by HDFC Life International includes products that address an individual’s financial needs related to Savings, Health, and Retirement.

The first product – the “US Dollar Global Education Plan”, is now open for enrolment and is designed to help parents build a US Dollar denominated corpus to meet future expenses for their child’s overseas education. This product aims to eliminate any future mismatch between the currency of investment and the currency of expenses.

The products will be made available under the aegis of the “HDFC Life International” brand, through the newly launched website, www.hdfclife-international.com.

Products will be available online for enrolment and customers can avail a smooth service experience, aided by international experts on call. These multi-currency life and health insurance products and solutions from GIFT City will complement the existing suite of INR products offered by HDFC Life, thus widening the available choices for its prevailing and new customers.

HDFC International Life and Re, based in the Dubai International Financial Center (DIFC) is operational since January 2016 and is a wholly owned subsidiary of HDFC Life. Its overseas branch at GIFT City – IFSC has received requisite approvals and grants of registration from the International Financial Services Centre Authority (“IFSCA”), the unified regulator at GIFT City – IFSC. DeshGujarat