Telecom operator Airtel on Monday said it has partnered with HDFC Life Insurance to introduce a prepaid scheme with in-built life insurance term plan cover.
The new plan will come with Rs 4 lakh life cover from HDFC Life, Airtel said in a statement. "Airtel's new Rs 249 prepaid bundle will come with Rs 4 lakh life cover from HDFC Life along with 2GB data, unlimited calls to any network and 100 SMS/day," the statement said.
The policy will be available to all customers aged 18-54 years, and requires no paperwork or medical examination except self declaration of good health, it said.
"Insurance adoption is abysmally low in India, including in urban areas. Price, access and convenience of payments are barriers to adoption," Bharti Airtel Chief Product Officer Adarsh Nair said.
"Airtel's pan-India distribution reach will enable millions of uninsured and underinsured Indians to become financially secure and improve adoption, penetration of insurance products in the country," the statement added.