Private insurer IndiaFirst Life Insurance today has tied up with Vidharbha Kshetriya Gramin Bank – a regional rural bank sponsored by Central Bank of India, to reach out to its customers in the hinterland of Maharashtra.
“This new tie-up will help us serve our customers in rural areas in a better and effective way. There is an urgent need in the country to not only take financial services to the rural populace but also to make them financially literate for true development to take place,” IndiaFirst Life Insurance Managing Director and CEO P Nandagopal said in a release issued in the Economic Times.
Vidharbha Kshetriya Gramin Bank launched the Group Term Plan today that provides a life cover of Rs one lakh for mere Rs 264 per year and Group Credit Life Insurance to cover home loan, personal loan and educational loan for its existing and as well as new loan customers.
IndiaFirst is promoted by two public sector banks – Bank of Baroda and Andhra Bank along with UK’s leading risk, wealth and investment company Legal and General.
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