Bank offers COVID-19 cover to its credit card customers

Bank of Baroda credit card holders can now purchase a COVID-19-cum-hospital-cash benefit insurance cover that provides financial support upon hospitalisation or on COVID-19 diagnosis.

The insurance cover from private life player IndiaFirst Life, will be available to all Bank of Baroda credit card customers who enrol online and select from the frequency, cash benefit and hospitalisation benefit options.

On diagnosis of COVID-19 the cover offers a cash benefit of INR5,000 ($67) and hospitalisation cash benefit amount of INR10,000. Under the hospital frequency option, cash benefit will be available for two or four times of hospitalisation in a year.

Credit card customers have the option to choose any one of the proposed benefits categories for which the premium would be charged accordingly.

IndiaFirst Life deputy CEO Rushabh Gandhi said, “In line with our #CustomerFirst philosophy, we have ensured that individuals can have a seamless end-to-end digital onboarding experience on our website.”

Source: Asia Insurance Review