Aegon life updates its life insurance with covid-19 cover
Customers can now avail up to 5 Lakhs as hospitalization cover for COVID-19
cityairnews
Jul 16, 2020 06:30
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Chandigarh: Owing to the COVID – 19 spread across the country, self-protection is now of prime importance. In light of this situation, Aegon Life, the pioneer of digital insurance in India now provides an upgraded ‘Life Insurance with COVID-19 Cover’ policy that provides a life cover up to Rs. 50 Lakh and hospitalization cover up to Rs. 5 Lakh on a positive diagnosis of the condition. The launch of this product is in collaboration with Flipkart, India’s homegrown e-commerce marketplace, aimed to provide maximum benefit to the insured in case of a positive diagnosis.
The cost of hospitalization for COVID-19 has increased significantly in recent months which adds to the financial stress in addition to the emotional stress already faced by the family. Aegon Life’s ‘Life Insurance with COVID-19 Cover’ policy requires no medical test for purchase. The policy can be bought hassle-free on the Flipkart App from the comfort and safety of one’s home. For a confirmed COVID-19 diagnosis, the insured gets a guaranteed lump-sum payout on hospitalization for more than 24 hours.
Shedding more light on the ‘Life Insurance with COVID-19 Cover’ policy, Mr. Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life said, “At Aegon Life, we are focused on the “direct to customer” model and therefore we can keep pace with our customer requirements, which, is our topmost priority. We introduced an innovation in the industry by launching the industry’s first life + hospitalization cover for COVID-19 earlier this May with Flipkart. However, we acknowledged the market scenario and the customer demands and felt the need to increase the cover to serve our customers better. The new updated ‘Life Insurance with COVID-19 Cover’ policy will further help to ease the financial burden on the policyholder if he/she tested positive for COVID-19 by now offering cover up to Rs.5 Lakh on hospitalization”.
