Airtel Payments Bank Partners with HDFC ERGO, to Launch Mosquito Disease Protection Policy
Airtel Payments Bank and HDFC ERGO General Insurance Company, under the corporate agency tie-up, launched an innovative Mosquito Diseases Protection Policy (MDPP) as a part of their objective to drive insurance adoption in the country through affordable and easily accessible products. HDFC said that this partnership aims to bring together the deep distribution network of Airtel Payments Bank and the strong innovation pipeline of HDFC ERGO to contribute to financial inclusion in the country.
This Mosquito Disease Protection Policy offers cover against seven common mosquito-borne diseases – Dengue, Malaria, Chikungunya, Japanese Encephalitis, Kala-azar, Lymphatic Filariasis (Elephantiasis) and Zika virus. This policy will be offered to the remittance customers of Airtel Payments Bank at a cost of Rs. 99 per year.
HDFC ERGO said that this policy is designed after extensive consumer research, and now available to the over 4 million remittance customers of Airtel Payments Bank. This segment of customers mostly comprises of migrant workers, who usually are the lone breadwinners of the family, and even a single day’s pay or wage loss impacts them in a big way.
The policy offers financial security for loss of pay or loss of savings in case of hospitalisation due to any of the 7 mosquito-borne diseases. HDFC ERGO claimed that this policy stands apart in the industry by being the only policy offering the sum assured benefit to the insured even if he/she is hospitalised for 24 hours for treatment.