Go Digit Life Insurance has launched Digit Glow Term Life Insurance, its first individual pure term life insurance plan, tailored specifically for India’s self-employed population. The plan aims to address challenges like stringent documentation and cumbersome procedures that have historically hindered life insurance access for self-employed individuals.
Key Features of Digit Glow Term Life Insurance
1. Digital First Approach
- The entire process, from onboarding to claim settlement, is conducted via a fully digital platform.
- The plan leverages tech-enabled underwriting models, using alternative credit assessments and distinct data points to accommodate variable and informal income proof often associated with self-employment.
2. Flexible Policy Terms and Payment Options
- Customers can choose from a variety of policy terms and premium payment options to meet their individual requirements.
3. Comprehensive Coverage
Optional covers include:
- Accidental death
- Total and permanent disability
- Terminal illnesses
- Added Benefits
- Free teleconsultations
- Discounts on health-related tests
- Elder care programmes and therapy sessions
Aimed at Bridging the Gap
Speaking about the launch, Sabyasachi Sarkar, MD & CEO of Digit Life, highlighted the plan’s inclusivity:
“Self-employed individuals are vital to India’s economy but often lack life insurance due to underwriting challenges. With Glow Term Life Insurance, we aim to bridge this gap by simplifying access and making it inclusive for India’s self-employed workforce.”
Impact on India’s Insurance Landscape
The introduction of this product marks a significant step in making life insurance more accessible and inclusive for the self-employed demographic, which constitutes a substantial portion of India’s workforce. By adopting a technology-driven approach and offering value-added benefits, Digit Life aims to cater to the unique needs of this segment while addressing their financial security concerns.
