HT Bureau
GUWAHATI, Oct 31: Federal Bank announced an extension of its partnership with Ageas Federal Life Insurance by offering Group Credit Shield for Federal Bank’s credit card holders. Group Credit Shield is an exclusive cover and equals the credit limit, up to a maximum of Rs 3 lakh for a term of 1 year.
This hassle-free and innovative sachet product requires no additional documents, no medical examinations, and is a single premium plan. Catering to customers, especially millennials, who desire ease and convenience, while at the same time ensuring safety and security, the Group Credit Shield plan can be bought online within 3 minutes with just a few clicks.
Commenting on the launch, Karthik Raman, chief marketing officer, and head – Products, at Ageas Federal Life Insurance said, “We are delighted to partner with Federal Bank to introduce our Group Credit Shield for Federal Bank’s Credit Card customers. Group Credit Shield provides customers a life insurance cover that will secure their credit spending and protects their loved ones from having to shoulder the burden of repaying the debt in case of an unfortunate incident.”
Shalini Warrier, executive director of Federal Bank said, “The Group Credit Shield product is designed to enhance Federal Bank’s credit card proposition. The ease & convenience that a completely digital process provides will surely add to customer convenience. By offering such bite-sized, bundled products, we hope to further increase insurance penetration in the country.”
