Airtel Payments Bank ties up with Bharti AXA to offer coronavirus insurance plans; check details

By: |
Published: April 6, 2020 2:32:34 PM

Airtel Payments Bank and Bharti AXA General Insurance have tied up to offer health insurance plans in the wake of the coronavirus crisis.

Under the insurance, these two companies will offer financial protection via two different health insurance plans.

Airtel Payments Bank and Bharti AXA General Insurance have tied up to offer health insurance plans in the wake of the coronavirus crisis. Under the insurance, these two companies will offer financial protection via two different health insurance plans. One plan offers a lump sum benefit of Rs 25,000 and the other plan — Group Hospital Cash — will offer a daily benefit of starting Rs 500, the companies said in a joint statement.  “Bharti AXA Group Health Assure Policy comes with a fixed cover offering 100 per cent sum insured as a lump sum, if the policy holder is diagnosed positive or gets quarantined in a government hospital or military facility/establishment,” it said.

However, in the case that the policyholder is tested negative after being quarantined for at least 14 days in a government hospital or military facility/establishment, the companies will provide 50 per cent of the sum insured. The policy becomes effective from the day one of the purchase. It is available for Rs 499 (including GST) which will offer insurance of Rs 25,000. The policy can be bought from the Banking Section of the Airtel Thanks App. Alternatively, it is also available at the nearest active Banking Point of Airtel Payments Bank.

Under the Group Hospital Cash Policy, per day fixed allowance on hospitalization with enhanced ICU cash is provided. Per day benefit of Rs 500 or Rs 1000 is paid for each day of hospitalization, up to maximum for 10 days. “This benefit doubles if the policy holder is treated in Intensive Care Unit (ICU). A customer can claim the benefit, if hospitalised for minimum 24 hours,” the companies said. The policy also provides protection against pre-existing diseases and specified conditions after the initial waiting period of 30 days from the date the policy is bought. “With our technology platform and deep distribution reach, we will be immediately able to offer this product to millions of customers at this hour of need,” Anubrata Biswas, MD and CEO, Airtel Payments Bank, said. The validity of the scheme is for one year. 

Meanwhile, the cases of coronavirus have crossed 4,000 in the country with over 100 deaths so far.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Labour law suspension: Uphold India’s international commitments, ILO expresses deep concerns to PM Modi
2IDFC First Bank senior management takes 10% pay cut
3Major industries, govt agencies owe about Rs 5 lakh cr in outstanding dues to MSMEs: Nitin Gadkari