Ageas Federal launches Aurum Advantage with global equities, gold and multi-currency options

Ageas Federal Life Insurance has launched Aurum Advantage, a multi-currency life insurance plan in GIFT City that allows customers to invest in US dollars, euros and pounds while also receiving life insurance protection.

The launch marks the insurer’s entry into Gujarat International Finance Tec-City (GIFT City), India’s first International Financial Services Centre (IFSC), and is aimed at customers with international financial interests.

Aurum Advantage is a Unit Linked Insurance Plan (ULIP) that provides exposure to multiple asset classes, including international equities, fixed income and gold. The multi-currency structure allows customers to select investments in USD, EUR or GBP, offering diversification across both geographies and asset classes.

The plan comes with multiple premium payment options and fund strategies. It also offers a partial withdrawal facility with no lock-in period, along with maturity benefits, loyalty additions and death benefits, subject to applicable terms and conditions.

The minimum ticket size is USD 3,000, EUR 3,000 or GBP 3,000, depending on the currency selected.

Open to customers across nationalities

Aurum Advantage is available to customers of any nationality, irrespective of their residential status, subject to applicable terms and conditions. This includes NRIs, OCIs and PIOs, expanding the potential customer base beyond residents in India.

Jude Gomes, Managing Director and CEO, Ageas Federal Life Insurance, said customers with international financial interests are increasingly seeking solutions that allow them to invest across currencies and markets.

“Aurum Advantage Plan addresses this need by combining multi-currency investment options with life insurance protection,” Gomes said.

The insurer said its entry into GIFT City provides a platform to serve customers across international markets and develop products for their changing financial requirements.

Targeting global markets from GIFT City

Through its GIFT City operations, Ageas Federal Life Insurance plans to cater to customers across key international markets, including the Middle East, North America, Europe, the UK, Singapore and Australia.

The company also plans to expand its GIFT City portfolio, with term insurance and pension products expected to be added in the near future.

The launch comes as GIFT City continues to provide insurers with an international financial-services platform from which they can offer products targeted at globally mobile customers. For Ageas Federal Life Insurance, Aurum Advantage represents the first step in building a broader product portfolio for customers seeking international investment exposure alongside life insurance protection.