Airtel Payments Bank partners with Bharti AXA General Insurance to offer insurance products
*Partnership unveils Bharti AXA Group Health Assure and Group Hospital Cash to provide financial protection against COVID-19
Airtel Payments Bank, India’s first Payments Bank, has partnered with Bharti AXA General Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, to offer simple and focused health insurance plans for providing financial protection against COVID-19 in these challenging times.
Under the partnership, the companies have rolled out two health insurance plans - Bharti AXA Group Health Assure which offers lump sum benefit of Rs 25,000 and Group Hospital Cash which provides daily benefit starting Rs 500 per day - to provide protection against COVID-19.
· Bharti AXA Group Health Assure Policy covering COVID-19comes 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. In case, the policy holder is diagnosed negative after being quarantined for at least 14 days in a government hospital or military facility/establishment, he or she will be entitled to 50 per cent of the sum insured. The policy offers protection for COVID-19 from day one of the purchase and can be purchased at a price of Rs. 499 (including GST) for fixed sum insured of Rs. 25,000. It can be availed from the Banking Section of the Airtel Thanks App or by visiting the nearest active Banking Point of Airtel Payments Bank.
· Group Hospital Cash Policy provides per day fixed allowance on hospitalization with Enhanced ICU Cash. Under this policy, depending on the plan, a customer is entitled to a fixed per day benefit of Rs 500 or Rs 1000 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. After the initial waiting period of 30 days from the first policy inception date, Group Hospital Cash covers pre-existing diseases and specified conditions. The product also provides coverage for a policy holder who is hospitalised for treatment of COVID-19. It can be purchased from any active Banking Point of Airtel Payments Bank. The product will be soon available under the banking section of Airtel Thanks mobile app.
With no pre-medical check-up required, both the products are currently available for Savings bank account customers of Airtel Payments Bank who are not suffering from COVID-19 or its symptoms.