Future Generali India Life Insurance further grows its Credit Life business
Future Generali India Life Insurance has recently added a new partner to further grow its Credit Life business. The Company has entered into an agreement with Vastu Housing Finance Corporation Ltd. to offer group credit life insurance through one of its products – Future Generali Loan Suraksha Plan. This is a single premium term insurance plan which is specifically designed for financial institutions to provide life coverage to their new and existing borrowers.
This is an affordable plan which ensures the protection of the borrower to the extent of the home loan amount. The borrower also has the option of Increased Insurance coverage in case of a top-up or additional loans. These schemes are usually useful during unexpected eventualities.
Speaking on this partnership, Munish Sharda, Managing Director & Chief Executive Officer, Future Generali India Life Insurance said, “Our objective is to offer simple and value added products to our customers and partners. Credit Life Insurance is a growing business and has proved to be beneficial not only for the financial institutions but also an important product for the customer as it is hassle-free. Given the importance of this business for our organisation, we have invested resources to ensure best-in-class products and processes to serve our customers better. We are pleased to associate with such a high quality, technology focused company like Vastu Housing Finance and offer our services through the Loan Suraksha Plan. We truly believe that this partnership will be a win-win situation for both the organisations as well as our customers.”
Sandeep Menon, Managing Director, Vastu Housing Finance Corporation said, “Vastu is focused on being a lender of choice; the Vastu proposition is a paperless digital process leveraging analytics and data to achieve speed and simplicity of the lending experience. We are committed towards understanding the changing needs of our customers and partners. We are pleased to partner Future Generali India Life Insurance and extending a simple and affordable life cover to our customers that will help them financially secure their families and their loan obligations.”
Future Generali India Life Insurance Company Ltd. is a joint venture between Future Group – the leading retailer of India, Assicurazioni Generali – a global insurance group and one of the world’s 50 largest companies and IITL – a leading NBFC.