Aegon Religare Life Insurance has tied up with Yes Bank to use the branch distribution network for insurance premium collection from its customers.
The Aegon Religare said that the objective of this initiative is to offer its customers with another convenient mode to pay their renewal premium and new business premium across the network of YES Bank branches.
Customers can walk in to any of the 130 YES Bank branches, which will accept the premium, during the local banking hours and pay their life insurance premium by cash or through a local cheque or demand draft.
Customer need to simply fill in deposit slip, mention his policy number, name and contact number on the reverse of the instrument. The acknowledgement receipt for the premium payment is received immediately, upon payment across the bank counter.
Branches of YES Bank will accept Aegon Religare premium at no extra cost to the customer.
The bank accesses the real-time data of a particular policy and simply collects the due premium. Aegon Religare will ensure that customer’s details are secured and do not transfer from or to any of the YES Bank branches. Any new branches added by YES Bank will be made available to Aegon Religare’s customers to make the renewal premium payment.