On February 17, 2021 Flipkart partnered with ICICI Lombard General Insurance Company Ltd to offer Group SafeGuard insurance, a group insurance policy to its consumers and their families.
i.Through this partnership Flipkart consumers will get Hospicash benefit under Group SafeGuard insurance.
ii.The benefit helps consumers to get a fixed daily amount for their hospitalisation, enabling them to pay for incidental medical or emergency expenses.
Target– Flipkart consumers
Features of the Policy:
Daily cash benefit- The Customers will get a Hospicash benefit from Rs. 500 to Rs. 2,000 per day
Included Hospitalisation- It will include accident and illness related hospitalisation.
Lump sum benefit on hospitalization– Cover for up to 90 days of hospitalization
Minimum hospitalisation– It requires hospitalisation of 24 hours
Hospital network– More than 6,500.
According to a study by the Union ministry of Statistics and Programme, the direct average out-of-pocket expenditure during hospitalization in India ranges between Rs.4,452 to Rs.31,845 for a person, whereas the average loss of income due to hospitalization is estimated to be around Rs.8,164.
Recent Related News:
HDFC (Housing Development Finance Corporation) Life and HDFC Ergo joined hands to launch a combi insurance product ‘Click 2 Protect Corona Kavach’ which offers a complete financial protection package in the current pandemic environment. This policy will provide all the benefits and features of HDFC Life’s Click 2 Protect 3D Plus and HDFC Ergo’s Corona Kavach policies.
About ICICI Lombard General Insurance Company Ltd:
HeadQuarters– Mumbai, Maharashtra
MD and CEO– Bhargav Dasgupta
Established– 2001
About Flipkart:
CEO – Kalyan Krishnamurthy
Headquarters – Bengaluru, Karnataka
