PayPoint offers free Personal Accident Insurance to support migrant workers

PayPoint offers free Personal Accident Insurance to support migrant workers

Mumbai: PayPoint India has announced to offer a complimentary Personal Accident Insurance cover for migrant workers transferring money to their families at native place, says a press release.

The insurance cover provides 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.

PayPoint expects to cover 1 million customers through its network of 48,000 plus digitally enabled retail stores by next year.

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.

Ketan Doshi, Managing Director of PayPoint India, said, “We aim to expand the blanket of financial security for the ones who need it the most through this initiative. By integrating with a transaction, we want them to be aware and proud of their commitment to their own families.”

Ketan Doshi said, “The pandemic has created tougher times for migrant laborers. The initiative has been introduced in line with our vision to reach out to the proverbial bottom of the pyramid population, prioritizing the self-employed migrants’ financial resilience and embedding a sense of security in them.”

The insurance benefit is designed majorly for laborers staying and earning in industrial zones and cities or working in factories, transport, loading and unloading, etc.

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