Private insurer Bharti AXA Life Insurance Tuesday announced the launch of its improved online term insurance plan, Life eProtect.
Mumbai: Private insurer Bharti AXA Life Insurance Tuesday announced the launch of its improved online term insurance plan, Life eProtect.
"Online life insurance has shown tremendous growth potential in the last 12 months. We launched our online channel earlier this year with Bharti AXA Life eProtect and the customer response has been very encouraging. Within 6 months of launch, we are currently amongst the top five players in the online term market. We have incorporated customer feedback to our existing term product in the new version of the online product to ensure that it is truly a best in class product in the market," Bharti AXA Life Insurance CEO Sandeep Ghosh said.
Life cover for eProtect has now been increased to age 75 years and the maximum age of entry has been increased to 65 years as well.
"We found that customers today are looking for insurance products that offer comprehensive protection, especially after retirement. An individual's responsibilities towards his family do not necessarily end with retirement. By increasing the tenure of eProtect, we are providing a longer coverage at extremely affordable premiums, making the new version one of the most competitive products in the markets," Ghosh added.
AXA Life eProtect also provides a unique and industry first service guarantee Family Care benefit that ensures a release of Rs 100,000 during times of distress within 48 hours of claim intimation.
To ensure that existing customers do not lose out on this opportunity, the company will offer the current customers of eProtect an option to upgrade to the new version at a nominal cost.
Bharti AXA Life Insurance Company is a joint venture between Bharti Enterprises and AXA, world leader in financial protection and wealth management.