26 May 2014

Life insurance offered to PNG families

7:56 am on 26 May 2014

The Bank of Papua New Guinea and Capital Life Insurance are working to provide life and loan insurance benefits for the clients of the People's Micro Bank.

The Deputy Governor of the Bank of PNG, Benny Popoitai, says targeting lower income breadwinners in the family through a micro-insurance product will protect families from adverse economic effects in the event of a death.

The present insurance penetration in PNG is one of the lowest in the world.