To ramp up financial inclusion in India’s rural areas, Bajaj Allianz Life has inked a strategic agreement with Satin Creditcare.

With the strategic partnership with Coverfox, Satin Creditcare’s customers can obtain loans with customised insurance plans from Bajaj Allianz Life through its 1,386 branches nationwide, the companies mentioned in a statement. The agreement was signed in Haryana’s Gurgaon, committing to work together to improve financial inclusion in rural India.

“The collaboration between Bajaj Allianz Life, Satin Creditcare, proficiently supported by Coverfox, is dedicated to providing financial security and enabling customers to pursue their goals with complete ease. Our aim is to assure and empower customers with the essential cover, ensuring that their families’ life goals remain on track in case of any unfortunate event,” Dheeraj Sehgal, Chief Distribution Officer, Institutional, Bajaj Allianz Life, stated. 

Further, the collaboration will provide financial security in case of any unfortunate incident. It will leverage Coverfox’s tech infrastructure for ease and convenience of insurance buying, selling, and servicing, digitally.

We continue our commitment to delivering comprehensive financial solutions that empower and offer protection to our vast family of over 3 million members, we believe that this partnership will provide thorough security. It will empower our clients to confidently navigate life’s uncertainties with resilience, Chairman cum Managing Director of Satin Creditcare Network Ltd, Mr. HP Singh mentioned. 

Bajaj Allianz Life Assured Wealth Goal Platinum Smart Income plan 

To set a new standard for financial protection and income stability, Bajaj Allianz has recently also launched Life Assured Wealth Goal Platinum Smart Income insurance plan 

With guaranteed payouts starting as early as the beginning of the second policy year, the policy features individuals to tailor their financial needs to achieve a diverse range of life goals early, whether covering a child’s education expenses or going on a vacation.

In addition to providing the primary assurance of life cover, the life insurance plan offers various features, making it the suitable choice for customers seeking both guarantee and flexibility.

The non-linked, non-participating individual life insurance provides regular income and an enhanced Return of Premium (RoP) to ensure financial security for the nominee in the unfortunate event of the policyholder’s demise during the income period.

“At Bajaj Allianz Life, our goal is to provide insurance and investment solutions for an expansive and diverse customer segment. There’s a significant segment that seeks stability amidst volatility, coupled with the flexibility, and Bajaj Allianz Life Assured Wealth Goal Platinum is the suitable fit for them. This policy offers peace of mind for individuals and families navigating today’s economic challenges. They enjoy the best of both worlds – guarantee and flexibility – empowering them to fulfill not only their long-term but also short-term life goals. We will continue to revisit our product portfolio, innovating to stay ahead of the ever-evolving economic environment and customer needs,” MD & CEO of Bajaj Allianz Life, Tarun Chugh said 

The plan works in two simple steps. First, you decide the premium amount and the duration for which you wish to pay it. Secondly, you choose the start year and how long you wish to receive the income, allowing you to align the payouts with your specific financial milestones or needs.