The world is a scary place, everyone around us is trying to get the most money out of their time and in that struggle sometimes they resort to practices that are not safe. They resort to thieving, robbery, hacking or identity theft to make money, but in hindsight they never think about the victims who eventually lose their life’s savings. There have been many cases in the past in which a person has lost all his money in a hack or a bank robbery and the bank refuses to pay them their money back. So, you can’t expect the bank to compensate you for the insurance you buy through the bank as well. This is the sad condition of our banking system currently.
So, in order to make a better experience for their customers MERCO bank has taken a very important step, it has partnered up with GEICO, one of the United State’s biggest insurance companies and will now also offer insurance services to its customers. In this deal the customers would be able to get insurance of almost $500 million through the bank from GEICO.
The insurance services will be covering different parts according to the plan that the customer decides to get. For example, the customers can get life insurance, health insurance and car insurance through the bank at a subsidised rate. Moreover, the biggest advantage of the partnership is the insurance on bank accounts that would be provided. The money in the bank account of the person up to 500 Million dollars will be insured by the bank and GEICO so people can be worry free when they bank with MERCO.
Every MERCO customer will by default get the insurance and they don’t have to purchase other insurance services to avail this. This is a good move by MERCO to safeguard their customers. The bank has been really proud of their customer satisfaction rating and this will surely boost their rating extensively.