Thursday, December 17, 2015

Telenor Suraksha Free Life Insurance India

Continued from the previous post - Link

What type of insurance is Telenor free life insurance?
This is a Life Insurance product. The cover is only for the life of the insured (Suicidal death is not covered nor does it cover disability/ accidental/ medical insurance).

Will death of insured due to either disease or accident be covered in this insurance?
Yes, all cases wherein the Insured couldn’t survive will be covered under this insurance. Only Suicidal death will not be covered in any case.

Why do you think it’s a great proposition?
We are the first operator to take this position as we are committed to India and believe in empowering society This comes absolutely free for our existing and new customers Also, financial security is a major concern in India and the penetration levels of life insurance are very low in comparison with global standards

Why is Telenor doing this?
Telenor India is a mass market operator, being a customer centric company with a focus on delivering additional value, Telenor felt it was a step towards keeping to our promise of full paisa vasool as our new brand promise.

Who is eligible for this telenor free life insurance?
All active Telenor India subscribers and all new customers who sign up.

Who are your partners for this scheme?
We have tied up with Sriram Life Insurance, a leading insurance provider in India and MicroEnsure.

Is there a charge/premium for this scheme?
No, this insurance is provided to all existing and new Telenor customers, who opt in, free of cost. They will have to sign up and confirm they would like to take up insurance through an easy process

Is this part of the larger strategy to offer financial services as you have already secured in principle approval for Payment banks?
Telenor India has taken a promise to offer additional value to all its customers.  As our new brand proposition we complement our Sabse Sasta position with two more – simple and fair.  In keeping with our brand proposition and ensuring more value for money to our mass market customers, we have tied up with our partners to offer Insurance which is easy to get and simple to understand.  We hope to continue extending the benefits of mobile connectivity through relevant services like insurance, payment bank and other financial services products for the mass market customers. Our aim is to deliver on Internet for All through affordable, relevant and simple services meant for the mass market consumer.

In India initiatives like Telenor life insurance is part of our endeavour to be part of the low cost financial inclusion agenda of the government. Through these services we will mitigate the risks of the people.

What is the policy document for this insurance? Who will provide that?
The customer has to sign up to be eligible for free insurance. For all policy related details please visit www.telenor.in/insurance. At the time of sign up, customer details will be validated.

Can I buy this insurance directly?
No, This insurance will be given to all Telenor customers only if they sign up and meet their recharge target.

What about new connections?
For new activations, INR 10,000 insurance cover will come as a default for the first 2 months (if the customer opts in within 7 days from activation)

If a new customer does not sign up within 7 days from activation of SIM, he/ she will not get any insurance offer for the next two calendar months. In order to activate the cover, the customer will have to sign up for insurance

What is the validity of the insurance?  
The validity of the insurance is 1 month (based on the scheme)

Does it need any medical examination for this policy? Do I need to visit your/insurance provider’s office for this?
No, this is a very simple Life Insurance policy, no medical examination is required and there is no need to visit anywhere to get insurance cover. The customer needs to opt-in and meet the monthly recharge target for getting the cover and keep the insurance valid each month.

What is the process to opt-in?
You can sign up through *121#, IVR, Call Center, your nearest retail store/retailer. If you want we can initiate the sign-up right away and you will receive a message for your consent. You just have to give your consent by replying with “1” and you will be eligible for insurance. The cover would, however, start the next calendar month only if you recharge with the required amount in the current month.

Is Insurance applicable on new SIM purchases as well?
Yes, it is applicable if the sign-up is done within 7 days of SIM activation. If the sign-up is not done within 7 days, insurance will not be applicable for next 2 calendar months.

New SIM Activation gives Rs.10K/- for 2 months, if sign-up done within 7 days.

Will I get insurance by just signing up?
No, you will become eligible for free insurance; however, you will get it only when you meet your recharge target (The cover would be valid for the next calendar month)

What is my recharge target? Who decides that and how?
Your recharge target is (inform as per CIM). This is calculated by Telenor for all customers basis your last 6 month’s recharge average.

Can I change my target?
No, you can’t change it; it is basically the average amount of your last six month’s recharges.

What do I need to do to meet the target?
You will have to recharge with this amount (inform as per CIM) to get free insurance for next month.

Is this a fixed target forever?
No, this target is applicable for 6 months, and we will calculate your target again after every 6 months

By when can I complete my recharge target?
Every month you meet your recharge target by the last date of the calendar month.

What if my recharge target is not met?
You will not get the insurance for next month

How can I get it back again or how will the renewal of this insurance will happen?
You will have to meet the recharge target in the next month to get it back in the following month. For e.g, if your recharge target for Jan’15 is not met then free insurance will not be available for Feb’15, however if you meet the recharge target for Feb’15 then Free insurance will be available in Mar’15 valid for 1 month.

What is my insurance cover amount and validity of this free insurance?
Insurance cover amount will be decided basis the total recharge done (only if the target is met) and validity will be for 1 calendar month only.  To continue the insurance in the next month, you will have to meet the recharge target for every preceding month.

Can I increase my insurance cover amount?
Yes, if you recharge more than your target amount you will get more insurance as per the product grid.

A large part of your consumers are not literate. Do you think they will be able to comprehend the service?
We have tried to make it as simple and easy to understand as possible. The customer need not worry about the documentation or the premium. In case of claim also the nominee needs to bring the SIM, Id proof and death certificate etc to initiate the process.

How do you calculate Telenor free life insurance cover amount?
It is calculated basis your overall recharge done for the month.

*Insurance will be provided on a monthly basis

What if I take high validity insurance scheme every month?
All recharges above Rs. 500 will be eligible for a high validity cover as per the table. If you recharge with any amount within the validity of your high validity cover (except the last month), it will neither impact your cover amount nor the validity. In order to continue the cover, you will need to recharge in the last month of your cover’s validity.

How will I get the benefit of this insurance?
Claims will be made in-case of mishap (death of insured person). For claims payout, insured should be covered in the month of death and the payment will be made to your nominee/who brings the required documents along-with the SIM – at the Telenor service center

How can I change the nominee?
For this you can visit the nearest store or you can tell us and we can also do it for you. You will receive a message on your phone and you will need to reply to confirm.

What information do you need for nominee?
Name of the nominee and contact details of the nominee is required (Up to 3 numbers)

Can I change the nominee details in future?
Yes, you can change the nominee details in future, if required.

When will you not give the claim to my family?
If you are not covered with insurance in the month of mishap, you will not be eligible for the claim or if you have opted-out from the insurance. Suicidal death is also not covered in Telenor Suraksha. The terms and conditions of the insurer will be valid for the payments of the claim.

Who will get the benefit?
Insurance gives cover/benefit to your family in case of any mishap; hence if something happens to you, then any member of your family can bring the documents for the claim. (claim will be made only if you are covered in that month)

What’s in it for Telenor? Do you foresee more sales and rise in ARPU?
This offer helps us to enhance the value we bring to our customers and enable us to gain loyalty among-st the customers. We aim to be the preferred telecom operator for our mass market customers. we expect that to get more strengthened with the launch of this first of its kind initiative.

What are the documents required for claiming Telenor free life insurance?
The following documents would be required in order to get the claim,

SIM card for the MSISDN, basis which insurance cover was granted to the deceased customer.
Death certificate of the deceased / Certificate from the Gram Panchayath head.
Hospital death certificate if death occurred in a hospital.
Police report in the event of accidental death or murder supported with autopsy reported, if carried out.
ID proof of the nominee is also required.
A mail from Telenor partner confirming the receipt of SIM and documents to be sent to MicroEnsure.

What if SIM card is lost?
In that case Police Complaint Copy/Acknowledgement will be required along with the documents as stated above.

How can I get to know my recharge target / insurance status / coverage amount?
All information related to Free Insurance is available on *121#, the retail stores and we can also provide the same.

How can I file a claim?
You will have to visit the nearest Telenor store along with SIM Card and the required documents. Telenor store will send an e-mail to the insurance company for claim settlement.

How long will it take to process the claim and release the amount?
Post the submission of documents to the retail stores, the TAT for processing the claim is 48 hours if there is a bank account and 7 working days if they don’t. The TAT is as per the insurance company and depends on the verification by the insurance company.

By when does the nominee have to file the claim after insured death?
Within 90 days of Insured’s death, nominee has to file a claim to be able to receive the claim amount as per eligibility.

How can I stop/deactivate this free insurance?
You will have to opt out to stop/deactivate this free insurance by calling our call center, visit our store or go online and request deactivation of insurance.

Can I get free insurance back once deactivated?
Yes, to get it back you will have to sign up again and recharge with the target amount.  You can dial *121#, IVR or through contact center, to sign up again and know your recharge target. If you want, I can do the sign up for you right away. You will receive a consent message to which you will have to send “1” as a reply

If I am insured in the current month and Opt-out from the insurance scheme, will my insurance for current month continue?
Yes, it will continue for the current month but you will not be eligible from next month onwards. To get it back you will have to sign up again.

Is there any age criteria e.g. (if customer age is more than 65 yrs then he/she would be eligible for insurance or not)?
No there is no age bar. The customer should be minimum 18 years, however, to be eligible.

Can nominee submit documents at Distributor/Retailer shop for claim insurance amount?
No, the nominee can submit the documents for claim at Retail store only.

Will customer get rebate in Tax with this insurance policy?
This is not a paid policy, hence no rebate in Tax.

What can be the maximum insurance cover amount for any customer?
Every customer is eligible to take up-to Rs 50,000 insurance cover.

What can be the maximum validity of this insurance scheme?
The maximum validity of the insurance scheme can be 1 year depending on the amount of recharge.

Can I recharge from any mode?
Yes, the recharge done from any mode except from your own main balance(STV activation via USSD) will be considered.

Will all my recharges be counted to meet recharge target?
Only STV/Top-up/Combo recharges will be considered to calculate the total recharge done in a month for free insurance.

Nominee has to submit SIM to claim the insurance amount or he can use the same SIM after claiming the insurance amount?
SIM submission is mandatory to file a claim.

What’s in it for your partners – retailers, distributors and Agents?
There is an incentive model and every time a new customer opts in, our partners will get some benefit.

How will you prevent frauds?
We, along with our partners, have done lot of ground research and study to evaluate frauds as these are bound to happen. We have already factored that in and will be able to take care of the customer with our experienced partners in this domain.

Is bank account a necessary pre requisite for reimbursement of life insurance amount in case of unfortunate incident? If yes, a large number of populace doesn’t have a bank account, how do you plan to address it?
We recognize that many of our customers do not yet have access to bank accounts. To assist we have agreed a process with the insurer, Shriram Life that claim settlements can be made by cheque and collected from the nearest Telenor Store or Shriram Branch. However, this process will take up to 7 days to complete rather than 48 hours if there is a bank account of nominee.

Once the SiM is submitted for claim can the nominee claim the SIM back or get the number issued in his / her name?
The SIM card is kept back once the claim has been registered. However, in case the nominee wants to retain the number they have to go through the normal connection activation process.

What is the premium paid by Telenor on behalf of its customers to Sriram and Microensure?
There is a complex but technical process to calculate the premium which is why we would rather not get into the amount or process.

What role is Microensure playing into this partnership?
Telenor India is a communications company and doesn’t have any expertise in insurance business. MicroEnsure works globally with insurance providers and are experts in this business. Their experience in this sector will help us serve our customers better and efficiently.

Is this insurance benefit being offered by any other Telenor Business Unit?
Something similar is happening in Telenor Pakistan and GrameenPhone too.

Why is Telenor asking customers to sign up and not give the benefit directly?
Signing up in is a process that enables us to inform and educate customer about the service and also take user’s consent for sending information on insurance and allied products.

Why is Telenor asking customers for recharge and not giving them insurance basis the existing usage?
The customer does not pay for the insurance. It is free of charge. We are asking consumers to use more services with us as we provide the best value in the market.

Why can’t the benefit of insurance start as soon as the recharge amount is done? Why do customers have to wait a month for insurance to begin?
This is part of the process and to complete the process we need a month’s time. Also, to calculate the monthly average and whether the customer has met his/her recharge target, we need a months’ time initially. After that the insurance becomes recurring.

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