As per the IRDAI, the insurance penetration in India is less than 4 per cent of the population while mobile penetration is close to 90 per cent.
Airtel Prepaid Recharge Offer: There is good news for the Airtel prepaid users as the company has partnered with Bharti AXA Life Insurance to launch a prepaid bundle with in-built insurance cover of Rs 4 lakh. The life cover is of the nature of term insurance in which the sum assured is paid to the nominee in case of death. There is no maturity value in term insurance plans. The life coverage of Rs 4 lakh is a complementary feature of the plan and there is no separate premium payment to be made. The Airtel recharge list can be seen to view this Airtel recharge offer.
The pre-paid bundle comes at a cost of Rs. 599 and offers 2GB data per day, unlimited calls to any network and 100 SMS per day along with with Rs 4 lakh life insurance cover from Bharti AXA Life Insurance. The recharge comes with a validity of 84 days and the insurance cover will continue automatically for three months with every recharge.
As per the IRDAI, the insurance penetration in India is less than 4 per cent of the population while mobile penetration is close to 90 per cent. According to some estimates, India will have close to 830 million smartphone users by 2022.
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How to avail
One needs to enrol for the insurance after first recharge through SMS, Airtel Thanks App or the Airtel Retailer. Once you recharge your number, you will receive the policy activation SMS. Life Insurance policy will be generated on the registered name of the Airtel number. Subsequently, you can fill in your details on Airtel Thanks App or get them filled by any Airtel Retailer near you. A physical copy of the insurance will be delivered to the user’s doorstep on request. Airtel has engineered the entire process to be delivered digitally in a matter of a few minutes.
The life insurance cover, which is available to all customers aged 18-54 years, requires no paperwork or medical examination and the certificate of insurance will be instantaneously delivered digitally. This prepaid bundle is currently available across Tamil Nadu and Pondicherry and its availability will be gradually extended to pan-India in the next few months.
Make sure to add or update nominee if you wish to buy this plan. Nominee is a person who would get the insurance cover amount in case of insured person’s death. Your nominee can be Your Brother, Daughter, Father, Father-in-law, Grand Father, Grand Mother, Grand Son, Husband, Mother, Mother-in-law, Nephew, Niece, Sister, Son or Wife.
The life cover in this plan can act as a supplement to enhance your overall life coverage. It is important that one keeps a life cover of at least ten times of one’s annual income.