Tata AIG life Insurance has tied up with Syndicate Bank to provide group life insurance solution, Total Suraksha plan, to the bank’s existing and new home loan customers.
The optional insurance product will be provided to housing loan borrowers on payment of one-time premium across all its branches in the country.
Syndicate Bank Insurance and Marketing general manager Devananda Upadhyaya said the product will be made available to its existing 1.6 lakh home loan borrowers.
Home loan customers between 18 and 55 years of age can also avail the insurance cover reported The Hindu.
The plan comes with propositions that include reducing or level sum assured options, group premium rates, simple enrolment process and faster and simple claim process.
The bank is also tied-up with Tata AIG to provide micro insurance to its customers who are covered under financial inclusion programme.