Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative, Muthoot Gold Shield, which is backed and powered by Group Affinity All Risk policy of Bajaj Allianz General Insurance.
The policy offers insurance coverage of gold jewellery for individuals at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product.
The policy also covers burglary, robbery, theft from insured person’s home, loss-in-transit and 13 other disasters (natural calamities). Muthoot Gold Shield is provided at a nominal premium, which is lower than industry average. Zero documentation is required and it takes less than 2 minutes to generate a policy.
The stock is trading at Rs.1146.60,down by 4 points or 0.34%.It touched intraday high of Rs.1160.15 and low of Rs.1,122.05.