Axis Max Life partners with India Post Payments Bank for distribution of insurance products

New Delhi, Sep 3 (PTI) Axis Max Life Insurance Ltd and India Post Payments Bank (IPPB) have announced a partnership aimed at delivering affordable life insurance solutions beyond Tier 1 into emerging regional markets across rural India.

This partnership leverages IPPB's robust network of 650 banking outlets and over 1.64 lakh access points through post offices to deliver a comprehensive suite of need-based life insurance solutions to customers across Tier 3, Tier 4 and rural markets, a joint statement said on Wednesday.

This also aligns with the government's financial inclusion objectives and supports the IRDAI's vision of achieving 'Insurance for All by 2047', it said.

Making life insurance more accessible and convenient, Axis Max Life will offer a range of tailored products, including its flagship Smart Wealth Advantage Guarantee Plan (SWAG), Smart Vibe Plan, and various Term Insurance Plans, it said.

These products are designed to meet diverse financial needs, from instant income and whole-life income options to essential protection and contemporary savings-linked solutions for younger customers, it said.

The distribution model will be managed by Axis Max Life's Regional Heads, overseeing each zone, driving execution and coordination in every state of India. PTI DP DP SHW