PhonePe launches pre-approved term life insurance without income proof, targeting unbanked, self-employed individuals.
PhonePe, an Indian digital payments platform, has launched a pre-approved term life insurance feature, bypassing the need for income proof at purchase. Partnering with leading insurers, the platform aims to serve millions of users, particularly those lacking formal income proof, such as merchants, self-employed individuals, gig workers. The company plans to reach up to 50 million users by year-end, driving insurance adoption in India by simplifying the process.
August 09, 2024
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