Aegon life insurance launches industry’s first life plus hospitalization cover for COVID-19 with Flipkart.
Mumbai: 27 May 2020: In an industry-first move, Aegon Life, has announced the launch of ‘Life Insurance with COVID-19 Cover’ for hospitalization expenses upto Rs 1 lakh along with Flipkart. This launch is aimed to provide Flipkart customers with a comprehensive insurance cover against COVID-19, that can be availed on the Flipkart app instantly along with the base life insurance plan. This innovative offering of ‘Life Insurance with COVID-19 Cover’ supports the policy holder by covering hospitalization costs of up to INR 1Lakh on minimum 24 consecutive hours of hospitalization on the first-ever diagnosis of COVID-19 condition along with death benefit from the life cover.
On the launch of ‘Life Insurance with COVID-19 Cover’, Mr. Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life said, “The government across the nation has taken bold steps towards containing the outbreak. However, many Indians do not have health insurance. Our goal through Aegon Life’s ‘COVID -19 hospitalization cover’ is to provide financial aid bundled with life benefits at an affordable premium. The policy takes care of hospitalization costs, which will help curb the financial burden that may arise if a person is declared COVID-19 positive. In case of death, one can avail of the life benefit through the base plan, which will help in supporting the insured’s family.”
Mr. Ranjith Boyanapalli, Head– Fintech and Payments Group, Flipkart, said, “During these unprecedented times, businesses must come together, be agile and innovate for the hour. At Flipkart as we continue to cater to 200 million customers across the nation, we believe that a full cover product such as ‘COVID-19 hospitalization cover’ will provide our customers the much-needed option of having life and hospitalization cover rolled-up into one product. Our partnership with Aegon Life enables these innovations to reach consumers affordably and conveniently.”
The technology and customer-first focus of Aegon Life and Flipkart has enabled this unique and powerful offering which is the need of the hour during this pandemic.
