On Monday, Airtel Payments Bank in partnership with Bharti AXA General Insurance launched health insurance plans that offer cover against COVID-19 to its customers from day one of purchase.
According to the press release, the Bharti AXA Group Health Assure Policy comes with a fixed insurance cover offering 100 percent sum insured as a lump sum, if the policyholder is diagnosed positive or gets quarantined in a government hospital or military facility/establishment. This policy can be at a price of Rs 499 (including GST) for fixed sum insured of Rs 25,000.
Further, the payments bank also offers a group health cover for COVID-19 called Group Hospital Cash Policy which 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 1,000 paid for each day of hospitalization, up to maximum for 10 days," the press release said.
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.
These can be purchased directly from the banking section of the 'Airtel Thanks App' or by visiting the nearest active banking point-of-sales (POS) of Airtel Payments Bank.
Note that if the policyholder 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 percent of the sum insured.
The validity period of these insurance policies is restricted to a year and will be issued on an individual name basis only.