COVID-19: Airtel Payments Bank partners with Bharti AXA General Insurance

Airtel Payments Bank has partnered with Bharti AXA General Insurance to offer simple and focused health insurance plans to provide financial protection against Covid-19.

Under the partnership, the general insurer has rolled out two different health insurance plans — Bharti AXA Group Health Assure, which offers lumpsum benefit of Rs. 25,000, and Group Hospital Cash providing daily benefit starting ₹500 per day — to cover protection against the coronavirus.

“We are happy to join hands with Airtel Payments Bank with our two, need-based, health insurance plans and leverage the power of digital to maximise the penetration of health insurance in India. We believe that ensuring a safety net against the financial repercussions of Covid-19 or any disease is just as important as exercising precautions against it. This alliance further strengthens our commitment as a responsible protection partner,” Sanjeev Srinivasan, MD and CEO, Bharti AXA General Insurance, said.

With no pre-medical check-up required, both the products are currently available for Savings bank account customers of Airtel Payments Bank who are not suffering from Covid-19 or its symptoms.

The validity period of these policies is restricted to one year and they will be issued on individual name basis only.

Anubrata Biswas, MD and CEO, Airtel Payments Bank, said, “We are delighted to offer insurance products designed to provide financial protection during the current outbreak of Covid-19. With our technology platform and deep distribution reach, we will be able to offer this product immediately to millions of customers in this hour of need.”

Terms of the policies

Bharti AXA Group Health Assure Policy covering Covid-19 comes with a fixed cover offering 100 percent sum insured as a lumpsum, if the policy holder is diagnosed positive or gets quarantined in a Government Hospital or Military Facility/Establishment. In case, the policy holder is diagnosed negative after being quarantined for at least 14 days in a Government Hospital or Military Facility/Establishment, he or she will be entitled to 50 percent of the sum insured.

The policy offers protection for Covid-19 from day one of the purchase and can be purchased at a price of ₹499 (including GST) for fixed sum insured of Rs. 25,000. It can be availed from the Banking Section of the Airtel Thanks App or by visiting the nearest active Airtel Banking Point.

Group Hospital Cash Policy provides per day fixed allowance on hospitalisation with Enhanced ICU Cash. Under this policy, depending on the plan, a customer is entitled to a fixed per day benefit of Rs. 500 or Rs. 1,000 paid for each day of hospitalisation, up to a maximum of 10 days.

―The Hindu Business Line