Aegon Life Insurance will now offer an upgraded life insurance cover with enhanced COVID-19 protection built-in. The upgraded policy would be available for purchase on the Indian e-commerce platform Flipkart.
The new policy provides a life cover of up to $66,500 and hospitalisation cover up to $6600 on a positive diagnosis of COVID-19. The upgraded policy requires no medical test and can be purchased from anywhere on the Flipkart App.
For a confirmed COVID-19 diagnosis, the insured gets a guaranteed lump-sum pay-out on hospitalisation for more than 24 hours.
Aegon Life CFO and principal officer Satishwar Balakrishnan said, “We are focused on the ‘direct to customer’ model and therefore we can keep pace with our customer requirements.
He said, “We were among the first to focus on digital distribution of insurance in India. We introduced an innovation in the industry by launching the industry’s first life + hospitalisation cover for COVID-19 earlier in May this year with Flipkart.”
Mr Balakrishnan said keeping in view the market scenario and the customer demands we felt the need to increase the cover to serve our customers better.
The new upgraded ‘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. Aegon Life is a joint venture between Dutch insurer Aegon and Times Group.