Aegon Life, MobiKwik join hands for Rs. 20 digital insurance product

Aegon Life Insurance has tied up with MobiKwik for a Rs. 20 digital insurance product. Available only on the MobiKwik App, the Aegon Life Group Term Plus Plan will offer both death and accidental disability benefits.

The product will have three variants of different sums assured of Rs. 1 lakh, Rs. 1.5 lakh and Rs. 2 lakh, which are bundled with an additional Rs. 1 lakh, Rs. 1.5 lakh and Rs. 2 lakh of accident disability. The policy can be availed at a premium of Rs. 20, Rs. 30 and Rs. 40.

For the purpose, digital wallet and fintech player MobiKwik has created a fully digital in-app purchase flow on its app, which will also enable the policy to be issued instantly.