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Airtel Payments Bank, Bharti Axa Life Insurance to offer PMJJBY

Airtel Payments Bank, Bharti Axa Life Insurance to offer PMJJBY

New Delhi, Aug 16 (UNI) Bharti AXA Life Insurance and Airtel Payments Bank announced a first-of-its-kind alliance to offer the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY), a statement said.

PMJJBY is a government-backed life insurance scheme aimed at increasing the penetration of life insurance among underinsured masses and contributing to financial inclusion in the country.

“The product ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY) provided by Bharti AXA Life Insurance offers Rs 2 lakh life insurance cover for a nominal premium of Rs 330 per annum and can be purchased by all existing or new Airtel Payments Bank savings bank account holders between the age of 18-50. The process of purchasing this policy is secure, paperless and completely digital, ensuring convenience for consumers,” said Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank.

"As per the tie-up, PMJJBY will be initially available at 100,000 Airtel Payments Bank - Banking Points across the country. Airtel Payments Bank would steadily scale up the availability to over 500,000 banking points in order to enable the product to reach even the remotest corners of the country," he said.

Vikas Seth, Chief Executive Officer and Managing Director, Bharti AXA Life Insurance, said, “We are happy to join hands with Airtel Payments Bank and forge a relationship built on common values of service excellence and customer trust. This is the first step towards our journey of ‘Insure India’ with a view to bringing affordable life insurance to every household through Airtel Payments Bank’s vast and productive network.’’

UNI DJK SB 1437

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