Reliance to provide insurance cover to CDMA subscribers

Reliance Communications Ltd (RCL) today announced the launch of 'Free Group Term Life Cover' (TLC) for more than 25 million CDMA subscribers of Reliance Mobile and Reliance Hello.

This scheme has been underwritten by Reliance Life Insurance Company, an associate of Reliance Capital Ltd.

This is the first of its kind scheme in the country, offering Reliance Communications' customers an insurance cover of up to Rs 50, 000 merely through an SMS without paying any premium.

The minimum cover is Rs 5,000 for prepaid and Rs 10, 000 for the postpaid CDMA subscribers. However, the maximum cover is Rs 50, 000 for both types of subscribers.

"With Reliance Group serving over 50 million consumers in the country, this is the first step to extend the benefits of the synergy among the group companies to our customers," said S P Shukla, president, Personal Business, RCL.

The cover is valid for a period of six months from the date a subscriber responds to the company by SMS, provided the master policy is in force. All current prepaid and postpaid CDMA subscribers between the age of 18 and 59 years are eligible under this scheme.

According to a company official in Chandigarh, despite stiff competition, the number of subscribers had been growing consistently in this region. Reliance had 10,60512 users in June this year which increased to 11,73115 in October this year.