Get Rs 1 lakh insurance cover for just Rs 20! Avail this offer now; here is how

If you are looking for an insurance cover in the personal accident category, you just have to know about this insurance cover worth Rs 1 lakh at an annual premium as low as Rs 20. MobiKwik and Chola MS have rolled out a general insurance product in the Personal Accident category that offers Insurance covers, starting from Rs 1 lakh available for an annual premium as low as Rs 20. 

The product can be purchased on the Mobikwik app with a simple 2-step process that takes 10 seconds and the policy is issued instantly. Here are the things, you must know before buying this insurance cover. 

1. The users will also have an option to increase the sum insured to Rs 3 lakhs and Rs 5 lakhs with annual premiums of Rs 60 and Rs 100 respectively. 

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2. The claim process is very easy to understand and follow. 

3. In the event of an accident, the policyholder or the registered nominee can directly contact Chola MS to register their claim. 

4. Thereafter, the payout will be made directly to the beneficiary, after due verification.

Speaking on the partnership, Upasana Taku, Co-Founder, MobiKwik said, “India continues to be grossly under-penetrated market, with a non-life penetration of less than 1 percent. General insurance distribution and adoption outside large cities is poor for reasons for access, awareness, appreciation of need, and affordability. Through our first bite-sized general insurance offering, we are looking to introduce first-time buyers to insurance, and helping them along their journey beyond basic financial services.”

The product is launched in a partnership of MobiKwik and Chola MS. MobiKwik is a fintech platform in India which operates businesses in consumer payments, payment gateway, and financial services. The Chola MS is a general insurance company that caters insurance related services to customers.