Tata AIG Life Insurance Company Limited (Tata AIG Life), one of India’s leading life insurance companies will offer insurance solutions to the customers of Family Credit Ltd., the consumer finance organization of Societe Generale Consumer Finance.  Through this partnership, Tata AIG Life will provide ‘Personal Loan Insurance’ - a Group Insurance package - for STPL customers of Family Credit Ltd.

Family Credit Life has a network of 35 branches and this will provide Tata AIG Life a ready made platform to access Family Credit Life’s client base with its insurance solutions.

Personal Loan Insurance will provide effective cover against death of the customer due to any reason classified as ‘natural’, ‘accident’, ‘sickness’ or ‘illness’.  A customer-friendly feature of this plan is the waiver of medical tests up to a limit of Rs.5 lakhs and till the age of 55 years. The product also has the flexibility of allowing the premium amount to be bundled with the loan amount.  This will help the borrower in repaying loans through easy monthly installments.

Commenting on this recent development, Mr. Joydeep Roy, Chief Distribution Officer, Tata AIG Life said, “Even as we anticipate customer needs while designing insurance products, we are looking at associations with companies like Family Credit Ltd to reach them. Partnering with Family Credit Ltd. is another step in that direction.  Tata AIG Life focuses on understanding needs of different client segments and fine-tunes its offerings to provide value to customers.”

Commenting on the development, Mr. Parthanil Ghosh, Chief Business Officer, FamilyCredit Ltd. said, “This initiative is primarily dedicated to the benefit of our valued customers so that the customer and his / her family can enjoy the credit availed without any worry of repayment in case of an unforeseen tragedy as they get the credit secured. We strongly believe that partnering with an eminent and respected insurer like Tata AIG Life will enhance our product value proposition, thereby benefiting our end-customers."

Sourced From: Perfect Relations Limited