Aegon ties up with Flipkart for life insurance plan with COVID-19 cover

By Press Trust of India|27th May 2020
The plan would provide Flipkart customers with a comprehensive insurance cover against COVID-19, and can be availed on the Flipkart app instantly along with the base life insurance plan, Aegon Life Insurance said in a release on Wednesday.
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Insurance provider Aegon has tied up with ecommerce major Flipkart to offer a life insurance plan with COVID-19 cover.


The plan would provide Flipkart customers with a comprehensive insurance cover against COVID-19, and can be availed on the Flipkart app instantly along with the base life insurance plan, Aegon Life Insurance said in a release on Wednesday.


Ranjith Boyanapalli, Head Fintech and Payments Group, Flipkart, said,


"During these unprecedented times, businesses must come together, be agile and innovate for the hour. At Flipkart as we continue to cater to 200 million customers across the nation, we believe that a full cover product, such as COVID-19 Hospitalisation Cover’, will provide our customers the much-needed option of having life and hospitalisation cover rolled-up into one product. Our partnership with Aegon Life enables these innovations to reach consumers affordably and conveniently.”
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Aegon's 'Life Insurance with COVID-19 Cover' plan will provide for hospitalisation expenses of up to Rs 1 lakh.


Aegon said the insurance cover is the first in the industry that will provide life and hospitalisation cover for COVID-19.


On the launch of ‘Life Insurance with COVID-19 Cover’, Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life, said,


“The governments across the nation have taken bold steps towards containing the outbreak. However, many Indians do not have health insurance. Our goal through Aegon Life’s ‘COVID -19 Hospitalisation Cover’ is to provide financial aid bundled with life benefits at an affordable premium. The policy takes care of hospitalisation costs, which will help curb the financial burden that may arise if a person is declared COVID-19 positive. In case of death, one can avail of the life benefit through the base plan, which will help in supporting the insured's family.”


Recently, Flipkart also entered into a memorandum of understanding (MoU) with Karnataka State Mango Department and Marketing Corporation to enable mango farmers to sell their produce online.


According to Flipkart, this partnership will provide farmers with the much-needed market access to consumers, creating a potential revenue stream during these testing times of coronavirus.


As part of the MoU, Flipkart will provide its marketplace platform to the Mango Board farmer producer organisations/sellers, growers and traders by enrolling them on the platform.



(Disclaimer: Additional background information has been added to this PTI copy for context)


Edited by Kanishk Singh

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