Axis Max Life, SK Finance Expand Credit Life Protection

Axis Max Life and SK Finance have joined together to offer life insurance linked to loans.

This type of insurance is called Group Credit Life Insurance.

SK Finance provides loans, especially for vehicles, to people in many rural and semi-urban areas.

Axis Max Life provides the insurance protection.

The protection may help customers and their families deal with certain unexpected events while a financial commitment is outstanding.

The companies say the partnership could help people who have not used formal insurance before.

They want insurance to become easier to access and part of the borrowing process.

The partnership is part of Axis Max Life’s efforts to support the goal of Insurance for All by 2047.