Breaking Down Barriers: Digit Life Launches Innovative Term Life Insurance for Self-Employed Indians
India’s self-employed population has long faced significant hurdles when it comes to securing life insurance coverage. Stringent documentation requirements and lengthy procedures have often prevented them from protecting their loved ones’ financial futures. However, Digit Life Insurance has taken a major step towards bridging this gap with the launch of its inaugural individual pure term life insurance plan, Digit Glow Term Life Insurance.
Simplifying Access for India’s Self-Employed Workforce
Designed specifically with the self-employed in mind, Digit Glow Term Life Insurance leverages cutting-edge technology to streamline the entire customer journey. From onboarding to claims settlement, the fully digital platform eliminates the need for tedious paperwork and lengthy waits. By harnessing the power of alternative credit assessments and unique data points, Digit Life’s tech-enabled underwriting models can accommodate the variable income and informal income proof often associated with self-employment.
Comprehensive Coverage Options
The plan offers a range of optional covers, including accidental death, total and permanent disability, and terminal illnesses. Customers can choose from various policy terms and premium payment options to suit their individual needs. Moreover, Digit Glow Term Life Insurance comes with a host of value-added benefits, including teleconsultations, discounts on health-related tests, elder care programs, and therapy sessions – all at no extra cost.
A Beacon of Hope for India’s Self-Employed
According to Digit Life MD & CEO Sabyasachi Sarkar, “Self-employed individuals are the backbone of India’s economy, yet they often lack life insurance due to underwriting challenges. With Digit Glow Term Life Insurance, we aim to simplify access and make it inclusive for India’s self-employed workforce.” This innovative plan marks a significant milestone in Digit Life’s journey, which began with the securing of a life insurance business license from the Insurance Regulatory and Development Authority of India in 2023.
A Cloud-Based Pioneer in Indian Life Insurance
Backed by the Canadian Fairfax group, Digit Life stands out as one of the few non-life insurers in India to operate entirely on the cloud. Its API integrations with various channel partners enable seamless service delivery, setting a new standard for the industry. With Digit Glow Term Life Insurance, the company is poised to revolutionize the life insurance landscape in India.
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