New Delhi: Bharti Airtel on Sunday announced its partnership with Bharti AXA Life Insurance to introduce its most affordable prepaid bundle with built in life insurance cover of Rs 2 lakh.
Airtel's new prepaid bundle at Rs 179 offers unlimited calling to any network, 2 GB data, 300 SMS along with a term life cover of Rs 2 lakh from Bharti AXA Life Insurance. The pack has a validity of 28 days.
The new prepaid bundle sets a new benchmark in making a basic insurance cover even more accessible and affordable by coupling it with world-class telecom services.
It is designed to serve entry level smart phone users and feature phone users in semi-urban and rural markets. The bundle will give these customers a simple and highly convenient channel to secure themselves and their families financially every time they recharge their Airtel mobile numbers.
"The new recharge plan will offer one of the simplest and most accessible platforms to hundreds of millions of Indians to financially secure themselves and their families while staying connected on Airtel's world-class network," said Shashwat Sharma, Chief Marketing Officer, Bharti Airtel.
Vikas Seth, Managing Director and CEO, Bharti AXA Life Insurance, said: "We are pleased to partner with Bharti Airtel and offer protection cover to its customers. As a responsible life insurer, we always look to provide new layers of convenience and protection to the customers.
"Our partnership ensures life insurance cover to every customer with each recharge and helps them leverage its benefits. We are confident that the alliance will also strengthen insurance penetration in the country."
As per the IRDAI, insurance penetration in India is abysmally low at less than 4 per cent, while there are close to one billion mobile users in the country. This offers mobile operators and financial services providers the opportunity to collaborate and innovate for serving the financial security needs of hundreds of millions of Indians.
The alliance also contributes to the government's vision of financial inclusion.
The insurance cover is available to all customer aged 18-54 years and requires no paperwork or medical test. The policy or Certificate of Insurance will be instantaneously delivered digitally and a physical copy of the insurance can be provided on request.
The entire process is digitally delivered in a matter of few minutes at any Airtel retail store or on Airtel Thanks app.
Airtel has over one million retail outlets, and its mobile network covers over 786,000 non-census towns and villages across India.