Users can now purchase a daily cash benefit from Rs. 500 to Rs. 3000, with premium starting at Rs.155 per annum, which will be particularly useful to maids, drivers, cooks or nannies
Mumbai, 24 August 2021: The pandemic has laid bare the tenuous financial situation of India’s lower income groups, such as those employed as daily help. Simultaneously, there is growing evidence of a willingness among gated community residents to support their staff; for example, the MyGate Trust Circle report revealed that 76.04% of residents are now more likely to provide monetary assistance to their daily help as compared to pre-Covid times. Taking a cue from this behavioural shift, MyGate now enables its 3 million users to purchase a hassle-free Group Health Insurance cover. This comes at a low cost and is relevant to their domestic help, such as maid, nanny, cook or driver.
MyGate’s members can buy a group health cover that allows beneficiaries to claim daily cash benefit (Hospi Cash) for hospital admissions ranging from Rs.500 per day to Rs. 3000 per day for 30 days in a year with no deductibles. The policy premium starts at Rs. 155 and goes up to a maximum of Rs. 900. The policy is available for 12 months for those aged 18 years to 65 years. This cover is underwritten by Care Health Insurance.
“It has been heartening to learn of growing empathy toward support staff, as illustrated in the MyGate Trust Circle report. It is clear that gated community residents are looking for meaningful ways to give more to their support staff and we believe that Hospicash is a valuable benefit they can provide their maid, driver or nanny with” said Abhishek Kumar, COO and Co-founder,MyGate.
Since March 2020, MyGate has made the health and safety of its users and the broader gated community ecosystem a priority. For example, it has launched more than 10 features specifically to combat the coronavirus, such as Leave at Gate, Temperature & Mask Check and Quarantine at Home. The organisation also organised mass RT-PCR and vaccination drives within gated communities and made the facility open to support staff as well.
Founded in 2016, MyGate is the largest community app in the country, simplifying urban living of over 3 million homes in 20,000+ housing societies. It was ranked #4 on YourStory’s list of India’s Most Disruptive Start-ups in December 2019 and one of India’s coolest start-ups by Business Today in 2019. MyGate was founded by Vijay Arisetty, an ex- IAF pilot (Shaurya Chakra awardee), Abhishek K, former VP at Goldman Sachs, and ShreyansDaga, former project head at Oracle and Digit. For more information, please see https://mygate.com/
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