BAJAJ ALLIANZ LIFE IN MICRO-FINANCE TIE-UP

INDIA’S Bajaj Allianz Life Insurance and SKS Microfinance have unveiled a group insurance product – Swayam Shakti Suraksha – for micro-finance organisations. The product is targeted at more than two million SKS Microfinance members and is designed along the lines of a standard endowment policy, offering what the companies called “protection and investment with flexibility”. Premiums start from Rs45 per month with a flexible sum assured that can start as low as Rs2,500. The minimum policy term is five years and members have the option to obtain loans under the scheme up to 85 per cent of the surrender value.