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Mahila bank, New India Assuance sign pact

Bharatiya Mahila Bank (BMB), on Friday, signed a memorandum of understanding (MoU) with New India Assurance Company to deliver three unique innovative health insurance policies for women account holders of the bank.

The policies — BMB-Sakhee, BMB-Nirbhaya and BMB-Parivar Suraksha — provide customised health insurance package for women.

While Sakhee, aimed at rural women and those in the unorganised sector, offers a cover up to Rs.50,000 a year; the Nirbhaya scheme offers cover limit up to Rs.5 lakh, and will include insurance for accidental situations unique to women, particularly working women.

Parivar Suraksha covers the family of the woman account holder of the bank.

Speaking after signing the MoU, bank Chairperson-cum-Managing Director Usha Ananthasubramanian said the time had come to cater to women as a segment.

“These are the times when we can talk to women about insurance,’’ she said adding that the three policies would broadly cover all women whether in the unorganised sector with no maternity benefits, or working and even their families. Customisation is the order of the day,’’ she said.

New India Assurance CMD G. Srinivasan said the three products would be available soon on the portals of the branches of the bank and mobile applications as part of the women empowerment process.

Bharatiya Mahila Bank was launched on November 19, 2013.

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