India Post Payments Bank tie-up with Bajaj Allianz for distribution of non-life insurance

India Post Payments Bank has entered into a tie-up with Bajaj Allianz Life Insurance Company to enable customers, particularly from weaker sections and living in unbanked and underserved areas, to become financially secure and empowered.

Yesterday Department of Posts and Bajaj Allianz Life Insurance Company announced a strategic partnership for offering term and annuity products to customers. These products will be provided through the Bank’s extensive network of 650 branches and over one lakh 36 thousand banking access points.

Bajaj Allianz Life Smart Protect Goal and Bajaj Allianz Life Guaranteed Pension Goal are the term and annuity products, which will be offered as per this strategic alliance. Both the products will be available to customers in addition to the Department of Posts’ existing Postal Life Insurance and Rural Postal Life Insurance products.

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