Published On: Tue, Apr 7th, 2020

Airtel Payments Bank, Bharti AXA to offer COVID-19 insurance solutions

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COVID-19 insurance cover : Airtel Payments Bank has joined forces with Bharti AXA General Insurance for providing simple and focused health insurance plans in India to offer financial protection against COVID-19 along with other health conditions.

Two health insurance plans – Bharti AXA Group Health Assure and Group Hospital Cash have been rolled out under their partnership.

Bharti AXA Group Health Assure provides lump sum benefit of Rs 25,000, while Group Hospital Cash offers daily benefit starting from Rs 500 per day to provide protection against COVID-19.

According to the partners, Bharti AXA Group Health Assure Policy comes with a fixed cover, providing total amount insured as a lump sum and if the policy holder tests positive or is quarantined in a government hospital or military facility.

If the policy holder tests negative after being quarantined for at least 14 days in a government hospital or military facility, he/she would get half of the insured sum.

The policy provides full protection for COVID-19 from day one of the purchased plan that comes at Rs 499 Including GST for fixed sum insured of Rs 25,000.

The COVID-19 health care policy can be availed from the banking section of the Airtel Thanks App or by visiting the nearest active Airtel Payments Bank Banking Point.

On the other hand, Group Hospital Cash Policy offers per day fixed allowance on hospitalization with enhanced ICU Cash. As per the plan, the person is entitled to a fixed per day benefit of Rs 500 or Rs 1000 paid for every day in hospital for a maximum of 10 days. The benefit doubles if the person undergoes treatment in ICU. The policy holder can claim the benefit if hospitalized for minimum 24 hours.

Group Hospital Cash covers pre-existing diseases and specified conditions after the first waiting period of 30 days from the first policy inception date. It also offers coverage for a policy holder who is tested positive for COVID-19 and is hospitalized for treatment. The policy can be bought from any active Banking Point of Airtel Payments Bank.

It will be available soon under the banking section of Airtel Thanks mobile app.

Airtel Payments Bank, Bharti AXA to offer COVID-19 insurance solutions

Airtel Payments Bank, Bharti AXA to offer COVID-19 insurance solutions. Photo courtesy: Gerd Altmann from Pixabay.

Anubrata Biswas – MD and CEO of Airtel Payments Bank, commenting on thew new COVID-19 insurance cover, said: “We are delighted to offer insurance products designed to provide financial protection during the current outbreak of COVID-19. With our technology platform and deep distribution reach, we will be immediately able to offer this product to millions of customers at this hour of need. We wanted to ensure health protection for our customers in the challenging times and, therefore, partnered with Bharti AXA General Insurance to offer health products which are easily available. These products affirm our commitment to empower every Indian with digital, contextual and timely solutions.”

Both the coronavirus insurance plans are now available for savings bank account customers of Airtel Payments Bank with no pre-medical checkup, and those who are not suffering from COVID-19 or its symptoms.

Commenting on the new coronavirus insurance cover, Sanjeev Srinivasan – MD and CEO, Bharti AXA General Insurance said: “We are happy to join hands with Airtel Payments Bank with our two need-based health insurance plans and leverage the power of digital to maximize the penetration of health insurance in India. We believe that ensuring a safety net against the financial repercussions of COVID-19 or any disease is just as important as exercising precautions against it. As an organization, we have always been responsive to every need of the hour and it is among our foremost endeavors to support our customers in such times of distress. This alliance further strengthens our commitment as a responsible protection partner.”

Both the COVID-19 insurance policies are valid for one year only and will be issued on individual name basis alone, said the partners.

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