PhonePe launches pre-approved term life insurance

PhonePe, today announced the launch of a ‘pre-approved term life insurance’ feature on its platform. The feature aims to make insurance coverage more accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase. With this launch, PhonePe ushers a new era of financial inclusion in India by making insurance products inclusive with the added advantage of quick and convenient access to life insurance coverage, without requiring extensive income verification.