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LG offers Rs 50,000 COVID-19 insurance on purchase of home appliances

Available on the purchase of air conditioners, washing machines, refrigerators and all appliances from LG Electronics,  the COVID insurance will be available in three slabs, worth Rs 50,000, Rs 30,000, and Rs 10,000

twitter-logoNidhi Singal Last Updated: June 18, 2020 | 20:29 IST
LG offers Rs 50,000 COVID-19 insurance on purchase of home appliances
LG COVID-19 Insurance

In a unique initiative, LG Electronics is offering COVID-19 insurance on the purchase of select home appliances. Available across stores till June 30, the COVID-19 insurance will offer coverage of up to Rs 50,000. LG has launched this insurance in collaboration with Cholamandalam MS General Insurance. This offer is a part of a larger effort by LG Electronics to help fight against the coronavirus pandemic and provide better access towards medical services during difficult times.

"As a brand, LG Electronics has always taken health and hygiene as a priority. Our innovative technologies in home appliances range offer various features that help to keep products fresh and maintain bacteria-free healthy life. By offering COVID-19 insurance through the purchase of our home appliance products, we aim to provide a meaningful integration to consumers," says Vijay Babu - VP-Home Appliances, LG Electronics India

Available on the purchase of air conditioners, washing machines, refrigerators and all appliances from LG Electronics,  the COVID insurance will be available in three slabs, worth Rs 50,000, Rs 30,000, and Rs 10,000. For instance, the customer will be entitled for a Rs 50,000-cover on purchase of a five-star split AC, and all models for air purifiers. Rs 30,000 insurance cover will be available on four and three-star split AC, window AC, side by side and double door refrigerator over 330-litre, front load washing machine and dishwasher. Ceiling fans, water purifier, top load and semi-automatic washing machines, microwave oven, double door refrigerator below 330-litre capacity and single door refrigerators will fall under Rs 10,000 insurance cover slab.

Only Indian citizens aged between three months to 65 years can avail this insurance and should have no foreign travel history for the last three months. The insurance cover will be extended only to the person on whose name the product has been purchased. Lastly, the insurer shall not be liable for any claim arising out of novel-coronavirus within 16 days from the first policy commencement date with them.

According to the LG website, the lumpsum benefit is equal to 100 per cent of the sum insured on the diagnosis of COVID-19 and will be valid for one year from the purchase of the product.

LG says the insurance can be claimed through the dealer. For instance, if a customer purchases an LG home appliance, the dealer will mention all the details. In case the customer is tested COVID-19 positive, he can directly contact the dealer to claim the insurance. Although a limited amount, this insurance will help you cover some hospitalisation cost.

Also Read: PM Modi launches auction of 41 coal mines, says India will turn COVID-19 crisis into opportunity

Alos Read: Fitch Ratings revises India's outlook to negative from stable; retains sovereign rating 'BBB-'

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