Latest News | PayPoint Offers Free Personal Accident Insurance to Migrant Workers
Get latest articles and stories on Latest News at LatestLY. PayPoint, a technology-enabled distribution network of financial services, on Wednesday said it is offering a complimentary personal accident insurance cover for migrant workers transferring money to their families.
Mumbai, Oct 28 (PTI) PayPoint, a technology-enabled distribution network of financial services, on Wednesday said it is offering a complimentary personal accident insurance cover for migrant workers transferring money to their families.
The insurance cover, provided by National Insurance Company, gives financial protection of up to Rs 50,000 to the insured person against uncertainties such as accidental death or partial, temporary, permanent and total disability due to an accident.
The cover is available exclusively for PayPoint India customers and the premium for it is zero, the company said in a release.
To be eligible for the benefit, the user has to simply remit money from a nearby PayPoint store or PayPointz wallet. Regardless of the transferred amount, the cover automatically renews, once a new money transfer is initiated in the subsequent month, the company said.
PayPoint caters to more than 5 million customers month on month. It expects to cover 1 million customers under this insurance scheme through its network of 48,000 plus digitally enabled retail stores by next year.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)