In a first from a telcom company in India, Telenor will begin offering life insurance to its new and existing customers, with covers starting from Rs 5,000 going up to Rs 50,000, while consumers don’t need to pay any premium. The unique plan allows Telenor’s existing 47.5 million customers to get enrolled in the scheme by either calling up customer service or visiting one of ?the company’s 2100 stores in six circles where it operates. New customers can get enrolled with little documentation, and get a cover equivalent to 100 times the value of recharge done on their prepaid number.

The company aims to differentiate itself from the pack of telecom players in the country with the new insurance scheme. The Norwegian telecoms leader’s has already won a payments bank license in India. Telenor has offered a similar insurance scheme called Nirvoy Life in Bangladesh, where its local unit Grameenphone is the market leader.

Telenor operates in six circles of UP (West), UP (East), Bihar (including Jharkhand), Andhra Pradesh, Maharashtra and Gujarat. It will soon start commercial operations in Assam.

Points to Note

• Existing customers begin their cover from the next month from the time they opt in.
• New customers automatically get a cover of Rs 10,000 for two months and subsequently they have to opt in to continue the service. C
• Customers have to maintain a nominal minimum amount every month for keeping the insurance cover valid and can increase it by increasing the recharge they do every month.
• On September 2015, Telenor Group has announced that it had changed its brand identity along with legal company name from Uninor, its subsidiary in India, as Telenor India Communications Pvt. Ltd