Telecom service provider Telenor India has announced that it is offering life insurance for free to all its active customers.
For this programme, the wholly owned subsidiary of Telenor Group of Norway has joined hands with Shriram Life Insurance and MicroEnsure, the UK-based firm engaged in developing and distributing insurance products for the mass market.
Launched by Insurance Regulatory and Development Authority of India (IRDAI) chairman T.S. Vijayan here, Telenor senior executives led by CEO Vivek Sood said the life cover is for all the existing 48 million subscribers as well as new customers across all the six telecom circles in which the company operates. Telenor offers only pre-paid services.
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“By spending on regular recharges with a small incremental value, which starts from Rs. 20, the customers will get life insurance cover that will be hundred times the monthly recharge value,” the company said.
There is no documentation and age limit to seek life cover under the programme.