Telecom network operator Telenor India has tied up with Shriram Life Insurance and MicroEnsure to offer free life insurance cover for its existing 47.55 million customers and new users in six circles.
Telenor will be offering free life insurance to only active customers of the company. Telenor customers need to spend a small incremental value in addition to regular recharges to benefit from life insurance cover. The life insurance cover will be a hundred times of the monthly recharge value and up to a maximum of Rs 50,000.
“Our understanding of mass-market consumers’ behavior, a retail network and efforts to create awareness around services beyond basic voice will enable us to remove persistent financial risks faced by our customers. With the life insurance offer, Telenor will create a unique differentiation in financial services just like we have done with our affordable mobile service,” said Vivek Sood, CEO of Telenor India.
Customers can avail this service by calling customer call center or dial the self-help menu *121# or opt-in for it by approaching any of the 2100 Telenor stores. For every recharge done by the customer, a 100X insurance cover will be provided to him. For customers availing this offer, there is no separate documentation required.
In the incident of death of a customer, the claim will be processed by submitting relevant documents like the death certificate, nominee id proof and the SIM card. The settlement will be done within 7 days of submission of all relevant documents, said Telenor India.
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