Bharti AXA Life Ties Up With Airtel Payments Bank For Term Insurance

Bharti AXA Life Insurance Co. Ltd. has tied up with Airtel Payments Bank for selling pure term insurance plan through the latter's network of retail banking points.

With this strategic association, Airtel Payments Bank would offer Bharti AXA Life POS Saral Jeevan Bima Yojana, a pure life term insurance plan which is aimed at the under-insured and uninsured segments in India, to its over 30 million customers, Bharti AXA said in a statement on Tuesday.

All Airtel Payments Bank savings bank account customers can purchase Bharti AXA Life POS Saral Jeevan Bima Yojana through a quick, simple, secure and paperless process at their banking points, Bharti AXA said.

While the term insurance policy will initially be available at Airtel Payments Bank's 25,000 retail outlets, it would soon reach over 60,000 retail banking points.

Any individual between the ages of 18 and 55 can enroll for this product without the need to undergo a medical examination.

Consumers are offered the option to choose a policy cover of either Rs 3 lakh or Rs 5 lakh at affordable premiums. They also get the flexibility of choosing their preferred policy term, premium payment mode, and additional benefits such as payout of double the sum assured in case of death due to an accident.