Reliance Communications Ltd. has launched the 'Free Group Term Life Cover' (TLC) offer for the more than 25 million CDMA subscribers of Reliance Mobile and Reliance Hello. The scheme offers Reliance Communications' customers an insurance cover of up to Rs. 50,000 merely through an SMS without paying any premium.
"The Free Group Term Life cover is a step in line with the constant endeavor of Reliance Communications to enhance the value offering to our many million customers", said S.P. Shukla, President - Personal Business, RCL. "With Reliance Group serving over 50 million consumers in the country, this is the first step in our quest to extend the benefits of the synergy among the group companies to our customers."
Key benefits of the TLC scheme include
- Free Term Life Insurance up to Rs 50,000 based on last 6 months usage
- Minimum of Rs. 5,000 for prepaid and Rs. 10,000 for postpaid subscribers
- No medicals involved
- Simple enrolment via free SMS to 5433 with your town name
- All new and existing subscribers of Reliance Mobile and Reliance Hello are eligible
This Group Term Life Cover is underwritten by Reliance Life Insurance Co. Ltd., an associate company of Reliance Capital Ltd. The minimum cover is Rs. 5,000 for the prepaid and Rs. 10,000 for the post-paid CDMA subscribers. However, the maximum cover is Rs. 50,000 for both types of subscribers.
The cover is valid for a period of six months from the date a subscriber responds to the company by SMS, provided the Master Policy is in force. The cover offered is calculated on the basis of previous six months cumulative recharges for the prepaid subscribers and cumulative bills for the postpaid subscribers.
Subscribers have to just send an SMS from their handsets to 5433 mentioning their city and the Free Group Term Life Cover will be activated on the very same day. They would receive a reply SMS requesting them to visit the COI microsite (relianceadagroup.com/TLP) to download their certificate of insurance. All current, prepaid and postpaid CDMA subscribers of Reliance Mobile or Reliance Hello between the age of 18 and 59 years are eligible under this scheme.
In case of any unfortunate eventuality, the subscriber's nominee will have to get in touch with Reliance Life Insurance to file the claim. However, the claim would be entertained only one month (30 days waiting period) after the cover activation by SMS. The Free Group Term Life Cover is a pure risk cover.
A pilot for Hyderabad via an outbound SMS campaign was launched on August 21, 2006 and after covering the rest of Andhra Pradesh, the nationwide TV commercial was run on October 17, 2006 for the Free Group Term Life Cover. Currently, the TLC scheme only covers CDMA subscribers (GSM & FLP customers are not yet eligible for this limited offer).