Insurance cover as a freebie

Insurance cover as a freebie

Offering insurance as a freebie with products and services is increasingly becoming a marketing strategy. Recently, LG Electronics India Pvt. Ltd, introduced a mobile theft insurance cover for its handset users through which it will pay back the market price if the handset is stolen. To avail the cover, a subscriber needs to file a first information report with the police within 24 hours of the theft, get the phone service blocked and send the claim to United India Insurance Co. Ltd, with which LG has entered into the agreement to provide the facility. The one-year cover is available to those who bought LG phones on or after 1 April. Subscribers of state-owned telephony provider Bharat Sanchar Nigam Ltd have something to cheer about.

Another state-owned telecom company, Mahanagar Telephone Nigam Ltd (MTNL), is offering a similar cover to its subscribers in Mumbai. Tata AIG Life Insurance Co. Ltd will provide the cover for a sum insured of Rs50,000 each, to MTNL subscribers within the age group of 18-65. The scheme, however, is not applicable to subscribers in New Delhi, the other city where the company provides its services.

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