PhonePe User: Digital payment platform PhonePe has announced term life insurance plans on its platform in association with ICICI Prudential Life Insurance.
Through this policy, customers will be able to avail insurance facilities at cheaper rates. The premium amount starts from Rs 149 annually.
Insurance from Rs 1 lakh to Rs 25 lakh
Under this insurance policy, a person can get insurance ranging from Rs 1 lakh to Rs 25 lakh. Customers can avail instant insurance policy on PhonePe application without any health checkup. The company said in a statement that millions of PhonePe users can now save their families from financial turmoil in the event of untimely demise.
Minimum annual income of 1 lakh required
PhonePe users have also set certain conditions for purchasing this policy. Under this, only the phonepay users aged 18-50 years, whose annual income is Rs 1 lakh or more, can take this policy. Without any health check-up and paperwork, users can take a policy ranging from 1 lakh to 20 lakh. After expiry, it can also be renewed easily through PhonePe app.
To Buy policy PhonePe app
can purchase term insurance policy on app users an easy way to Fonpe.
1. Android and iOS users click on the ‘My Money’ section of their PhonePe application.
2. Then click on Insurance.
3. Now select the Term Life Insurance section.
4. After this, select the amount for which you want to insure.
5. After giving the details of the insured person and his nominee, online payment will have to be made to complete the purchase of the policy.