In what could be a win-win situation for both companies, Bharti Airtel and HDFC Life Insurance have come together to offer life insurance policies to customers with just a simple prepaid recharge. A first of its kind, by recharging their prepaid mobile number for Rs.249, Airtel customers will be eligible for a HDFC Life Insurance that comes with a life cover of Rs.4 lakh.
With the Rs.249 Airtel prepaid bundle pack, customers will get the benefit of 2GB per day data, unlimited calls, 100 SMS, and an HDFC life cover of Rs.4 lakh. Airtel customers can apply for the HDFC Life Insurance cover on the MyAirtel App or at any Airtel Retail Store. Customers between the ages of 18 years old and 54 years old will be eligible for the life insurance cover and no documentation or provision of medical certificate will be necessary to avail the life insurance policy.
The Chief Product Officer of Bharti Airtel said that Airtel, which is a dominant telecom company in the country, will be the backbone of innovations and digitalisation and their association with HDFC Life Insurance will help both companies spread awareness about the need for life insurance.
With the penetration of life insurance less than 4% as per the Insurance Regulatory and Development Authority of India (IRDAI), the decision of HDFC Life Insurance to sell their policies along with Airtel will be a step to improve its penetration.
Source: Economic Times