Current Affairs - Business - Discussion

Mobikwik, digital financial services company collaborated with pioneer of digital insurance in India, Aegon Life Insurance to launch a Rs 20 smart digital insurance product in order to protect its wallet users from death and accident related disability cover for up to Rs 2 lakh. he main objective for this initiative is to improve the insurance penetration in India (this is currently at 3.7%) , that is to drive financial inclusion for the masses. The company has created 3 variants of the amount assured between Rs. 1 lakh, Rs.1.5 lakh and Rs. 2 lakh at no extra cost and the policy can be availed at a premium of Rs 20, Rs 30 and Rs 40 respectively depending on the protection amount and this is issued instantly. The insurance product launched is termed as the Aegon Life Group Term Plus Plan. It is available on MobiKwik App.