Bharti Airtel has partnered with HDFC Life Insurance to leverage technology and deep penetration of mobile services to build a financially secure India.
Airtel has launched a prepaid bundle that will come with in-built life insurance cover (term plan) from HDFC Life Insurance. Airtel’s new Rs. 249 prepaid bundle will come with Rs. 4 lakh life cover from HDFC Life along with 2 GB data, unlimited calls to any network and 100 SMS/day.
The recharge is valid for 28 days and policy cover till recharge is active. A customer needs to enrol for the insurance after first recharge and renews automatically for subsequent recharges.
The policy is available to all customer aged 18-54 years and requires no paperwork or medical examination (the customer is only required to give a declaration of good health) and the policy will be instantaneously delivered digitally. A physical copy of the insurance can be provided on request.
Adarsh Nair, Chief Product Officer, Bharti Airtel said, “Insurance adoption is abysmally low in India, including in urban areas. Price, access and convenience of payments are barriers to adoption. With this innovation, Airtel is removing those barriers for providing basic insurance to a very large set of India’s population and making the process extremely simple – just recharge your phone and you are insured. We are really excited to join forces with HDFC Life who share our vision of leveraging technology for the good of people and delight customers with meaningful innovation.”
Commenting on the tie-up, Suresh Badami, Executive Director – HDFC Life said, “At HDFC Life, we are constantly looking at creating eco-systems that enable us to improve our reach of insurance products. Two of India’s customer-centric brands have come together to offer this innovative product. I am confident that this tie-up is a great opportunity to make insurance accessible to every Indian.”
Airtel’s new Rs 249 prepaid bundle is available to customers across India. As of December 31, 2018, Airtel’s mobile services customer base in India was approximately 284 million.