Money & Banking

PNB MetLife and RevFin in tie-up to offer life cover

Our Bureau New Delhi | Updated on January 03, 2020 Published on January 03, 2020

PNB MetLife India Insurance Company and RevFin, a digital lending start-up, have entered into a tie-up to provide protection to the latter’s customers by bundling life insurance cover on their loans.

This partnership supports financial inclusion by helping to secure the families of the borrowers against loan repayment burden in the event of unfortunate demise of the borrower during the loan term.

RevFin customers who have taken a loan to buy an electric three-wheeler can take advantage of this tie-up, and cover their outstanding loan amount during the loan tenure. To facilitate the hassle-free process, RevFin customers can apply for this life insurance product digitally without any additional paperwork and at an affordable premium.

This insurance covers loans up to ₹3 lakh for a term of three years. The product is offered digitally through RevFin’s app (iOS and Android), so there is no additional paperwork needed. Once the insurance underwriting is done, the insurance document is sent to the customer via e-mail.

Sameer Aggarwal, CEO, RevFin, said: “We are very excited to offer this life insurance product to our customers. The initial response has been very good from our electric three-wheeler customers.

“We will keep working to offer better products to our customers and make them a part of the formal economy.”

Published on January 03, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.