Aegon Life Insurance launches first Life Plus hospitalisation cover for COVID-19 with Flipkart

Aegon Life Insurance on Wednesday announced the launch of ‘Life Insurance with COVID-19 Cover’ for hospitalisation expenses up to Rs 1 lakh along with Flipkart, India’s homegrown e-commerce marketplace.

This launch is aimed to provide Flipkart customers with a comprehensive insurance cover against COVID-19, that can be availed on the Flipkart app instantly along with the base life insurance plan, the company said.

It said, the offering of ‘Life Insurance with COVID-19 Cover’ supports the policyholder by covering hospitalisation costs of up to Rs 1 Lakh on minimum 24 consecutive hours of hospitalisation on the first-ever diagnosis of COVID-19 condition along with death benefit from the life cover.

This product available on Flipkart first, is aimed to help millions of people to financially protect themselves from the uncertainty of the COVID-19 pandemic in an affordable way from the convenience and safety of their home, Aegon said.

On the launch of ‘Life Insurance with COVID-19 Cover’, Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life said, “The government across the nation has 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."

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“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,” Balakrishnan said.

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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.”