Airtel-Bharti AXA Life partners to offer prepaid plan with insurance

Domestic telecom company Bharti Airtel has partnered with Bharti AXA Life Insurance to offer prepaid scheme with insurance coverage to all its users across the country as part of its strategy to leverage the extensive penetration of mobile services to create a financially secure India.

Airtel has introduced its innovative prepaid Rs 599 plan with 2 GB data / day, unlimited calls to any network and 100 SMS / day, along with Bharti AXA Life Insurance Rs 4 lakh life insurance cover. The recharge comes with a validity of 84 days and with each recharge, the insurance cover automatically continues for three months.

Currently, this prepaid plan with life insurance cover is available to users across Tamil Nadu and Pondicherry and gradually its availability will be extended to pan-India in the next few months.

Airtel and Bharti AXA Life Insurance's innovative prepaid plan combines the deep distribution reach of Airtel, including presence in rural pockets, with the insurance expertise of Bharti AXA Life to make it very easy for millions of uninsured and underinsured Indians to get a substantial life insurance cover whenever they recharge their mobile phones.

The life insurance cover, available to all users aged 18-54-year-old, needs no documentation or medical examination and the insurance certificate will be delivered digitally instantly. On request, a physical copy of the insurance will be delivered to users doorstep.

"The strategic association with Airtel as a Group master policyholder and Airtel's pan-India vast distribution network will boost insurance penetration in the country. The introduction of term insurance with every pre-paid recharge provides protection benefits to consumers,'' said Vikas Seth, Managing Director and CEO, Bharti AXA Life Insurance.

A user needs to enrol for the insurance after first recharge through SMS, Airtel Thanks App or the Airtel Retailer.

Notably, the insurance penetration in India is less than 4 per cent (of the population) while mobile penetration is close to 90 per cent. It is estimated that India will have close to 830 million smartphone users by 2022.

( With inputs from IANS )