The ‘Lock FD’ is a new security feature for safeguarding the customers’ Term Deposits from Digital Frauds by allowing customers to restrict FD closures through digital means. Customers who opt for this feature will have to visit the branch for the premature closure of their FD. The option for premature closure from digital channels will not be available once the deposit is locked. This in-branch verification with stringent identity checks reduces the risk of unauthorized access. This functionality is especially beneficial for customers who may be less familiar with digital platforms and are more susceptible to digital fraud.

Sameer Shetty, Group Executive – Digital Business, Transformation & Strategic Programs, Axis Bank, said,

“At Axis Bank, we have been continuously investing in a digital-first proposition that focuses on secure and seamless banking experiences. In this endeavour, we are excited to introduce ‘Lock FD’ that reflects our proactive response to the rising tide of digital fraud. This feature empowers customers to safeguard their term deposits from unauthorized digital access and enables us to provide security to the customer’s money by blocking alternative means of siphoning off funds by fraudsters.”

The ‘Lock FD’ feature is available to all Axis Bank customers and can be activated through the Axis Bank mobile app or any branch. Axis Bank has also recently launched the ‘In-App Mobile OTP’ feature on its mobile app to enhance authentication security and protect customers from rising OTP-related fraud and scams. These initiatives align with the Bank’s strategy to enhance customers’ digital experience while combating digital fraud, positioning it as a leader in banking security.

To know more about the feature: Click here

The post Axis Bank Launches Innovative ‘Lock FD’ Feature to Protect Term Deposits from Digital Fraud appeared first on NRI News.

While the market offers innovative, value-packed products such as Bajaj Allianz Life eTouch at affordable prices, it’s equally critical for customers to understand the importance of adequate coverage. Underinsurance remains a significant issue in India, with many individuals lacking sufficient coverage to meet their loved one’s financial needs. The general rule of thumb is that life insurance coverage should be at least 10 times one’s annual income. Policyholders can meet this benchmark with the Bajaj Allianz Life eTouch, which also provides holistic Health Management Services.

Bajaj Allianz Life eTouch has three variants: Life Shield, Life Shield ROP & Life Shield Plus. All the 3 variants come with an inbuilt feature of Waiver of Premium in the event of Accidental Total Permanent Disability or Terminal Illness. With the Life Shield ROP variant, the policyholder will receive a one-time amount which is equal to total premiums paid upon maturity if he/she survives the policy term. As for the Life Shield Plus variant, an additional payout is provided in the unfortunate event of a death resulting from an accident, in addition to the regular death benefit.

The Company has enhanced its commitment to holistic well-being by offering Health Management Services tailored for women. These services provide easy and quick access to medical facilities, supporting customers in achieving their overall health objectives, conveniently integrated into a single product. They include comprehensive health check-ups and OPD in-clinic consultations for routine check-ups and minor treatments. It also provides instant access to medical consultations and holistic well-being offerings.

The post Comprehensive Protection with Bajaj Allianz Life eTouch appeared first on NRI News.

Commenting on the campaign launch, Chandramohan Mehra, Chief Marketing Officer, Bajaj Allianz Life, said, “Simplifying by de-jargonizing is one of the potent solutions to overcome the perceived complexity coupled with high customer inertia, a key challenge faced by the insurance industry.  Lack of knowledge has been one of the key barriers resulting in India’s high protection gap at 87%.  Our underinsurance educational initiative equips customers with the right advice to make sound decisions, keeping in mind the long-term protection needs of the family.  Anchored on a thumb rule of 10x, we are confident that the initiative will aid easy comprehension and induce appropriate actionability.”

Through a series of captivating films, Bajaj Allianz Life highlights the importance of the 10X life cover guideline.

To maximize its impact, Bajaj Allianz Life has launched a 360-degree marketing campaign, spanning television, print, outdoor, digital, and extensive use of fininfluencers. The message will be amplified through social media outreach as well. As the nation gears up for the T20 World Cup, Bajaj Allianz Life’s campaign will be showcased there, driving home the importance of adequate insurance coverage.

Video Link – https://youtu.be/Gj-d5-gV7Ho

The post The New Thumb Rule Of ‘10X’ For Term Insurance: Bajaj Allianz Life Insurance Unveils New Campaign appeared first on NRI News.