Axis Bank Ties Up With Tata AIG To Offer Group Medicare For LGBTQIA+ Community

Axis Bank has tied up with Tata AIG to offer group medicare products for its new customers from the LGBTQIA+ community.

Now Axis Bank customers from the community can secure the lives of their partners for medical exigencies regardless of their sexual orientation or marital status, Axis Bank announced in a press release.

Same sex partners can be covered under top-up options of their existing group medicare products for a sum insured of Rs. 15 lakh for Rs 1,999, inclusive of goods and services tax (GST), the press release added.

Incidentally, Axis Bank is also celebrating ‘ComeAsYouAre’ Carnival with a host of offers for customers from the LGBTQIA+ community. The carnival began on December 13, 2022 and will conclude on January 13, 2023.

During this period, customers from the community can open joint savings account and term deposits with their partners regardless of sex, gender, sexual orientation or marital status. They can also list their partners as nominees for their savings accounts and/or term deposits regardless of sex, gender, sexual orientation or marital status. They can also personalise their debit card by choosing a pride flag in accordance with their sex, gender or sexuality by visiting www.axisbank.com/mydesign

The press release further said that during this period, customers from the LGBTQIA+ community who open a savings account with Axis Bank, will get a Rs. 200 Grab Deals voucher redeemable at over 150-plus brands, such as Myntra, Shoppers Stop, Big Basket, Apollo Pharmacy, Book My Show and many more.

Additionally, they will get a three-month Amazon Prime subscription , if they choose to apply for a Forex card through Internet or Mobile banking and load a minimum of $2,500 or equivalent currency.

Says Satheesh Krishnamurthy, executive vice-president and head – private, premium banking and third-party products, Axis Bank: “This health insurance product will cover same sex partners. The Bank has embarked on a journey to expand its inclusive banking offerings and will roll out many more of such initiatives in a phased manner. We welcome our customers as partners in our journey.”

Incidentally, previously in 2021, Axis Bank had announced a charter of policies and practices for its employees and customers from the LGBTQIA+ community. Among the many initiatives it took as part of the inclusion drive, it invited same sex partners to open joint savings accounts and/or term deposits, list each other as nominees and also gave the option of adding the honorific Mx for customers of varied genders.

Parag Ved, president – consumer business, Tata AIG General Insurance Company Ltd., says: “We at Tata AIG believe that access to good health insurance is a necessity and right for all humans irrespective of their sexual orientation. Our step to extend medical insurance coverage to the

LGBTQIA+ customers of Axis Bank will foster better engagement at the centre of our business and help build a more welcoming environment for the community.”