IndianMoney.com (Suvision Holdings Pvt. Ltd), is offering a group term insurance plan in association with Max Life. This insurance plan comes with a myriad of benefits such as paperless transactions, one-time premium, and even no medical test for prospects with income below Rs 3 lakh.
C S Sudheer, Founder, IndianMoney Group said, “Insurance reach in India stands low owing to the dearth of financial literacy. Affordability is the key which has to be addressed at the time of bringing the uninsured segment within the purview of financial inclusion. With IndianMoney launching this group term plan, we will bring the majority population within the ambit of financial inclusion.”
Speaking on the partnership, V. Viswanand, Deputy Managing Director, Max Life said, “There is a tremendous scope to increase the life insurance penetration in India. Through this partnership we aim to make formal financial services and specifically life insurance more accessible to a larger segment of the population, thereby increasing the financial protection of the country.”
In association with Max Life, IndianMoney.com will be offering group term insurance to its existing customer base of more than 5 million on a voluntary basis. The cover would range from Rs10 lakh to Rs20 lakh. Term of the insurance cover for members will be of one year from the Effective Date of Coverage (EDC) as mentioned in the Certificate of Insurance. People aged between 18 to 45 will be covered under this policy.
“This policy is live for all the customers of IndianMoney Group” said C S Sudheer.
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