ICICI Lombard joins with FreePaycard to launch ‘Group Safeguard Insurance’

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ICICI Lombard in association with Freepaycard, an online pre-prepaid card trading platform, launches ‘Group Safeguard Insurance’. The plan arrangement will be offered to the individual members of Freepaycard, permitting them to get a guaranteed amount of sum in the event of any injury or hospitalization for treatment.

ICICI Lombard mentions as comfort, affordability, and reach are significant variables to expand insurance adoption and penetration, this strategic association will make the bite-sized health insurance solution arrangements, planned and designed explicitly for Freepaycard individuals, accessible at its multi-category partner retail outlets. Freepaycard members can include these health solution arrangements on the go while looking for other basic essential merchandise or services.

The insurance offering is a customized hospitalization product that comes in three variations – Hospital Daily Cash Benefit, Death Benefit, and Special Vector-borne Disease-related Hospitalization Benefit. The Hospital Daily Cash Benefit will let clients benefit with a sum guaranteed to Rs 60,000 for a maximum period of 30 days. This choice can be availed at Rs 699 for a 1-year tenure. It will be helpful in an occurrence of hospitalization at any government or private medical hospital across the nation. Freepaycard individuals who already have health insurance policies or employer health care insurance can likewise settle for this cover.

The second cover, Death Benefit or the Personal Accident Cover for 1-year at Rs 699 for an aggregate guaranteed sum of Rs 10 lakhs in case of an occurrence of the unintentional accidental demise of the insured or permanent complete disablement, and Rs 90,000 for parental consideration in the event of the insured’s accidental death or permanent absolute disablement. The Special Vector-borne Disease-related Hospitalization spread comes at Rs 379 for a year for an aggregate guaranteed sum of Rs 75,000, which is paid on hospitalization because of any of the covered vector-borne illness or malaria. These incorporate dengue, chikungunya, kala-azar, Japanese encephalitis, and filariasis. In any case, at least 48 hours of hospitalization is needed for the insured to be qualified for the claim.

Sanjeev Mantri, Executive Director, ICICI Lombard General Insurance stated that at ICICI Lombard, the company continuously endeavor to exhibit the ethos of Nibhaye Vaade through creative, and industry-first activities to help and support clients. Further, it is the company’s undertaking to offer an advantageous solution for them in the new normal.

All Freepaycard individuals in the 18-65 age group are qualified for the product(without going through any earlier clinical tests). Also, clients can pick both of the three or any one of the three covers according to their necessities and get themselves safeguarded.

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