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IPPB (India Post Payments Bank) and PNB MetLife have partnered to expand access to life insurance in India.

Banking & Finance | Dated: 01 Feb 2025

On January 30, 2025, India Post Payments Bank Limited (IPPB) based in New Delhi and PNB MetLife India Insurance Company Limited (PNB MetLife) based in Mumbai, announced a bancassurance partnership to make life insurance more accessible across India.

🎯 Key Highlights:

  • - This collaboration combines PNB MetLife’s life insurance products with IPPB’s large network of 650 banking outlets and its customer base of 110 million people.
  • - The goal is to provide life insurance to households across India, offering financial protection and supporting financial inclusion.

💡 Other Important Facts:

  • (i) IPPB and PNB MetLife aim to make life insurance accessible to more families, including those in rural areas that are usually underserved.
  • (ii) They offer a variety of products like Child Education, Family Protection, Long-term Savings, and Retirement plans.
  • (iii) The partnership ensures that even remote areas are covered, supporting the Government of India’s mission to promote financial inclusion.

📚 Test Your Knowledge:

Which payments bank recently partnered with PNB MetLife to expand access to life insurance in India?

Correct Answer: India Post Payments Bank (IPPB)

🚀 Quick Recap:

About India Post Payments Bank Limited (IPPB)

  • MD & CEO: R. Viswesvaran
  • Headquarters : New Delhi