NEW DELHI: India’s second-largest telco Bharat Sanchar Nigam Limited and HDFC Life Insurance, Monday entered into a strategic alliance to offer life cover to individuals.
Bharti Airtel has launched a prepaid bundle that will come with in-built life insurance cover (term plan) from HDFC Life Insurance, the company in a statement said.
Airtel’s new Rs 249 prepaid bundle will come with Rs 4 lakhs life cover from HDFC Life along with 2GB data, unlimited Calls to any network and 100 SMS/day, Gurugram-based telecom operator said.
The insurance penetration, according to the regulator in India is less than 4% (of the population) while smartphones will account for 38% of all networked devices by 2022, or 829 million, compared to 26% in 2017.
The policy, which is available to all customer aged between 18 and 54 years, requires no paperwork or medical examination with the process requires digital delivery at any Airtel retail store or on MyAirtel app.
Sunil Bharti-driven Bharti Airtel has more than 1.1 million retail outlets, and its network covered 95.3% of the country’s population.