India Post Payments Bank has entered into an agreement with Bajaj Allianz Life Insurance, to become its corporate agent.
Around 3250 post offices have been identified from where insurance products will be sold to India Post Payments Bank users. Soon, this will be expanded to 1.5 lakh post offices, spread all length and breadth of India.
As per the existing regulations of Payments Bank, India Post can sell products of three life, non-life and standalone health insurers each.
Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance said, “We are confident that the strength of their network coupled with our expertise will work to increase awareness about life insurance, and help many more Indians leverage the benefits of life insurance to achieve their life goals through affordable solutions.”
