Go Digit Life Insurance Limited, a new-age tech-backed life insurance firm, began operations in just two weeks after getting an IRDAI license. The “Digit Life Group Term Insurance” plan will focus on giving high customizability to its customers, i.e., groups, as part of its objective to “Make insurance simple.”
Customers can personalise their plan by selecting numerous Death Benefit payouts with varying sum guaranteed amounts. They can customise their plan using the four built-in optional perks and select from a variety of add-ons.
Digit Life Insurance will also offer a Wellness Benefit Program for their customers, which will include health and wellness services to maintain a fit and healthy lifestyle, including preventive health services.
Speaking about the launch, Srinivasan Parthasarathy, MD & CEO, Go Digit Life Insurance, said, “We want to change the life insurance landscape and simplify it. In our first product, we have taken the customization route to bring simplicity for businesses and other groups. This will be enabled by our tech-backed processes, which will bring the much-needed agility and innovation to life insurance products.”
Customers can choose to lock in a fixed premium rate for up to three years with Digit Life Insurance. They can also select the frequency of their premium payments (single, monthly, quarterly, half-yearly, or annually).
Kamesh Goyal and Fairfax, who also founded Go Digit General Insurance six years ago, promote Digit Life Insurance. Over 3.5 crore consumers have been handled by the organisation across numerous insurance products such as motor, health, travel, property, and fire.
