IPPB, DoP and Bajaj Allianz Life Insurance Company Partnered

Published on November 14, 2021
Current Context: The tripartite partnership was made among Bajaj Allianz Life Insurance Company, India Post Payments Bank (IPPB), and the Department of Posts (DoP).
IPPB, DoP and Bajaj Allianz Life Insurance Company Partnered
  • The tripartite partnership was made to launch two insurance products in rural parts of India.
  • Under the partnership, the Bajaj Allianz Life Insurance Company will offer term and annuity products to the people using IPPB’s network.
  • The partnership aims to support the weak, unbanked, and underserved sections of the community with insurance products. Due to this, these sections of the society will become financially secure.
  • The people can avail Bajaj Allianz Life Smart Protect Goal which is the term product or Bajaj Allianz Life Guaranteed Pension Goal which is an annuity product.
  • Both the product along with DoP's existing PLI (Postal Life Insurance) and RPLI (Rural Postal Life Insurance) products will be offered to the customers under the partnership.
  • Static Part: 
    • HQ of IPPB: New Delhi
    • Tagline of IPPB: Aapka Bank, Aapke Dwaar

Question: 

Q.1 In partnership with which entity, will Bajaj Allianz Life company offer its products namely, Bajaj Allianz Life Smart Protect Goal and Bajaj Allianz Life Guaranteed Pension Goal?
a. India Post Payments Bank (IPPB)
b. Department of Posts (DoP)
c. Both (a) and (b)
d. Airtel Payment Bank

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