Bajaj Allianz Life launches 'Group Sampoorna Suraksha Kavach'
By PTI | Published: 13th October 2017 04:03 PM |
Mumbai, Oct 13 (PTI) Bajaj Allianz Life Insurance today launched 'Group Sampoorna Suraksha Kavach', a traditional Micro Group Insurance Term Plan.
Group Sampoorna Suraksha Kavach covers various types of micro loans given by Micro Financial Institutions (MFI), small finance banks and financial institutions to their customers, along with providing life insurance cover, the company said in a release issued here.
"This plan provides group members with a life insurance cover, and at the same time covers their outstanding loan amount to a financial institution, so that the Group as well as their families' financial interests are looked after in case of any unfortunate event.
"Our new product will surely be a game changer in the way loans are currently offered in the micro finance segment against risks covered," Bajaj Allianz Life Insurance Managing Director and CEO Tarun Chugh said.
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This is unedited, unformatted feed from the Press Trust of India wire.