NEW DELHI: Aditya Birla Health Insurance Company Limited (ABHICL), the health insurance subsidiary of Aditya Birla Capital, entered into a strategic alliance with fintech platform MobiKwik to offer sachet health insurance products. Through this partnership, ABHICL and MobiKwik are looking to expand their markets, creating affordable insurance solutions for mobile-first middle-class Indian consumers who have previously never had access to insurance, said a release.
The first product launched under this partnership on MobiKwik platform is a Cancer Protect Cover. The cancer plan offers protection from the diagnosis of all major stages of cancer. The policy’s protection cover allows guaranteed cash value, guaranteed savings benefits to ensure adequate protection as well as value-added services to promote preventive care.
The cancer-protect cover covers all major stages of cancer with a 100% payout and includes a larger age group of 18 years to 60 years. With a one-year tenure, this can be bought for Rs 125, for a sum insured of Rs 1.5 lakhs. Users have other options for increased sum insured to choose from: Rs 4.5 lakhs and Rs 7.5 lakhs with annual premiums of Rs 375 and Rs 625 respectively.
The policy provides cover for breast, cervical, oral cavity, lung, and colorectal cancers which accounts for 47.2% of all cancers in India. Users can buy two policies of Rs 7.5 lakh and avail the cover of Rs 15 lakh. With the aim of eradicating cancer among those who are prone, this policy also covers smokers without asking for medical documents, the release said.
Aditya Birla Health Insurance will also offer covers such as heart secure, and accidental hospitalization, on the MobiKwik platform. Mayank Bathwal, CEO, Aditya Birla Health Insurance said, “Through this partnership with MobiKwik, we intend to make health insurance affordable for millions of Indian families.”
Upasana Taku, co-Founder, MobiKwik, said, “Against the backdrop of the rising number of cancer cases, we have introduced affordable insurance plans for users as they navigate in their fight against the illness. The Cancer Protect plan bolsters MobiKwik’s commitment to support India’s healthcare needs, and enables financial inclusion for millions of Indian families, threatened by any kind of cancer.”
She further added, “We are excited about our partnership with ABHICL for Health Insurance and have worked together to bring this Cancer Protect product to the market with a fully digital purchase process and no medical required.”