India’s largest payment company, PhonePe, has announced the launch of a new feature on its platform: pre-approved term life insurance. This innovative feature eliminates the need for income proof when purchasing a policy. By removing this requirement, PhonePe aims to make insurance coverage more accessible and affordable for millions of Indians. The move is expected to simplify the process of obtaining insurance and broaden coverage options for users. With this feature, individuals who might have previously struggled with income verification can now easily secure life insurance. This development reflects PhonePe’s commitment to enhancing financial services and expanding insurance access across the country, addressing the needs of a diverse customer base.