Device Insurance
Device Insurance- Your Device’s Full Protection
Device insurance is a product of Altruist Technologies Limited, where a customer can get insurance coverage against any accident to the insured device. It can remove your anxiety for your valuable device and bring comfort in your mind, knowing that you have financial support for accident. Premium starts from only 28 Tk/month (*Tax/ VAT applicable).
About Altruist Secure Device Insurance:
Altruist Secure is an App based Device Insurance subscription which covers- physical damage, theft and lost. It is an annual [12 months from activation date] subscription and coverage product where customer will be under 12 months’ Insurance Coverage and can pay the annual subscription fee/premium at a single go or in monthly installment basis.
Eligibility for Device Insurance:
- Newly purchased Smartphones (iOS/Android) from any physical retail/online.
- Existing old smartphone aging up to 13 months from purchase date mentioned in purchase invoice.
- Must have valid purchase invoice issued by physical retail/online mentioning Device Brand, Model, MRP & IMEI.
- Need to use GP number only for subscription.
Insurance policies that Altruist is offering-
- Damage coverage policy
- Theft / Lost coverage policy
- Full Coverage policy (damage + theft/ lost).
POLICY DESCRIPTIONS:
Coverage detail:
- Damage coverage: Any damage caused to a mobile phone hardware (each component including its screen) by any sort of accident e.g., fire/liquid/drop.
- Option1: Altruist assigned logistic partner will pick the insured phone from customer’s doorstep and return the phone to customer doorstep as well after repairing by 7 working days [standard turnaround time] from the pick-up under 100% own arrangement and cost.
- Logistic partner will pick up the phone by 2 working days [standard timeline] in metropolitan cities and by 3 working days [standard timeline] in district level from completing the document. Standard turnaround time is 7 working days if the insured device is under out of manufacturer warranty because it will be repaired by Altruist’s repair partner- Quickfix using grade 1 copy parts.
- Standard turnaround time of 7 days is not applicable when the insured Device is under warranty because that will be repaired from device vendor’s authorized service center only by using original parts. In this case, device vendor’s authorized service center provided timeline will be considered as turnaround time and communicated to the customer. If customer is not paying CCTC (Customer contribution to claim) amount within 48 hours after placing a request, standard turnaround time will not be applicable.
- Option 2 (In case of inability to meet 1st option, Altruist can opt 2nd option): Altruist will pay back to locally repaired cost to customers upon her/his consent and Altruist will pay any claim amount up to depreciated device value. In this case, Altruist will pay within 7 working days from the date of document and bill submission.
- Option 3 (In case of inability to meet above 2 options, Altruist can opt 3rd option): Altruist will pay back the full depreciated device value to customers. In that case, customer has to deposit the device to Altruist forever and Altruist will pay to customer within 7 working days from the date of sending the device to Altruist and altruist will keep the device forever.
- Theft/lost coverage: Any valid lost case supported by General Diary [GD] and lost SIM replacement copy from GP service point and theft case supported by First Information Report [FIR] at local police station and lost SIM replacement certificate copy from GP service point.
Coverage detail: Insurer will pay back the depreciated sum insured value to customers by 10 working days from the date of submission all documents. - Full coverage: Eligible for both damage coverage and theft/lost coverage altogether.
Coverage detail: mentioned against both 1 & 2.
Conditions for Device Insurance Subscription:
- Customer can pick Damage coverage or Theft/lost coverage separately or both together in full coverage policy.
- Insurance coverage period will be 12 months.
- Premium payment mode: bkash.
- Premium payment process: customer can pay monthly/annually.
- Before any insurance claim customers need to pay the full annual premium.
- Customers can claim multiple damage coverage claims during coverage period.
- Theft/Lost claim will be entertained only once during coverage period.
- If customer fail to pay premium within 7 days of due date, insurance will void
- For any insurance coverage claim, customer need to pay 1000 tk or 10% of the claim value (whichever is lower) as CCTC(Customer contribution to claim).
- For any claim Customers must report within 7 days of the incident (Damage/Lost/Theft) and submit required documents by 15 days of the incident. Insurer will pay back within 10 working days of claim submission.
Please visit http://bd.altruistsecure.com for details
Dear customer, if you are interested for Device Insurance subscription, please click here to download Altruist Secure BD mobile App.
Subscription process and medium:
First and foremost, after unboxing the newly purchased device from GP retail stores or GP online shop, customer needs to download the “Altruist Secure BD” app from Play Store or App Store.
After successful installation of mobile App, user should fill up his mobile number for OTP verification. An OTP will be shared to authenticate the login.
This is the app outlook you will find in App Store and Play Store and OTP verification interface when we open the App.
User Registration Form: User has to provide the correct details such as-
- Full Name
- Email ID
- Mobile number (Auto fetched after OTP verification)
- National ID
- Father Name
After filling up the information user will see a button named Upload Invoice below the User’s information detail. Here user should upload the original invoice/cash memo in the app by clicking upload invoice button. When customer hit the upload invoice button, the phone camera will be on to take the image for the invoice. User needs to make sure that, the picture is well captured covering device brand, model, IMEI & MRP information clearly.
After successful invoice upload, Altruist’s backend team will approve/reject the invoice as this is crucial to decide the Sum Insured value. If the purchase invoice is a valid invoice issued by eligible sales channel and all the required information is there, the invoice will be approved within few minutes. Otherwise, uploaded invoice will be rejected, and customer will not be able to proceed further for Insurance subscription.
User registration form and invoice upload option on the screen shown below-
After completion of user details input and purchase invoice uploading, the App will take permission to run the device’s Health Checking. After allowing user has to be attentive for any inputs to be required for this test as shown below-
User can monitor the success of each test as the result is displayed at same time. To be eligible for device insurance subscription, test rating outcome must be minimum 85%. User can perform this test once more by clicking on Test Again option. In health report “The tests which have failed are not covered under the protection plan”.
After successful test result, user has to pick another phone (2nd phone) to take photo of IMEI of device to be insured. App will show a QR code to scan from another phone (2nd phone). After QR code scan, a camera icon will come in 2nd phone screen to capture IMEI on the 1st phone’s (testing phone) IMEI screen. In 1st phone (testing phone), App will request user to dial *#06# and take this picture from 2nd phone. After clicking camera icon in 2nd phone, camera will be opened to take picture of the 1st phone (test phone) and upload.
After this, User should wait for the purchase invoice approval from Altruist team. Here IMEI matching will be done from the Invoice and shared IMEI scree (with *#06# dial). Meanwhile user can check the status of Invoice Approval on the screen as below-
After invoice approval, App will display the various insurance plans with monthly/annual premium. User can choice any of the plan as per need and make the payment via bkash by clicking on Pay.
Bkash interface will come showing premium amount that will be charged from customer Bkash wallet. Now customer needs to input Bkash account number, OTP and PIN for payment. Customer must have sufficient balance in Bkash account for necessary payment.
When the payment is done, user is successfully subscribed on Altruist secure and can see the subscription Dashboard
Payment Status: User can keep a track of their payment history and upcoming payment.
Policy Certificates: Customer can see the policy certificates after uploading the ID proof and can download and print the certificate for preserve.
Profile management: User can verify their subscription and information details on this page.
Maximum Sum Insured value will be determined based on below table:
| Age of the Insured device from purchase invoice date to insurance subscription date | Sum Insured value for maximum insurance coverage and insurance premium Identification |
| 0-3 months | 100% of the valid invoice value |
| 4-6 months | 80% of the valid invoice value |
| 7-9 months | 70% of the valid invoice value |
| 10-13 months | 60% of the valid invoice value |
Depreciated Sum Insured Value [Maximum Insurance Coverage Value] at the time of claim will follow the below table:
| Age of the Insured Device from subscription Activation Month | Depreciated value |
| 0-1 month | Cooling period |
| 1-3 months | 90% of the Sum insured value |
| 4-6 months | 80% of the Sum insured value |
| 7-9 months | 70% of the Sum insured value |
| 10-12 months | 60% of the Sum insured value |
Coverage Claim process against incident:
A customer can raise a claim via online portal/email/call:
- Service request through the online portal - Visit Altruist’s website http://bd.altruistsecure.com and log in using your registered mobile number.
- Service request by email - Send an email to bangladesh.cc@altruistsecure.com
- Service request by using Customer Care Number 09612449966
A customer must claim within (7) days from the incident for any coverage and need to submit all the required documents to support the claim by fifteen (15) days from the incident to Insurer.
A customer needs to provide below mentioned information while raising a claim-
- Mobile Number and National ID number.
- Date of the incident.
- Type of Claim (Damage/theft/lost).
- Damage device pictures (front and back).
- In case of theft customer must submit FIR copy from local police station.
- In case of loss customer must submit the GD copy from local police station.
- In case of Lost/Theft, SIM replacement copy which has been issued from GP Service point.
User will get updates on her/his claim via email and SMS or an executive from Altruist Technologies will call the user (if required).
For Repair claim, there is no limit on claim count in 1 year subject to consolidated value of repairs up to the depreciated Sum Insured value at the time of claim.
Before any claim can be settled, customer must pay the CCTC (10% of the claim amount) or 1000 taka whichever is lower.
Also, at the time of 1st Claim, customer must pay the full annual subscription fee [payment of rest of the month’s fee if a customer is enjoying monthly subscription fee payment facility] in advance.
For example, if a customer wants to place/submit his 1st Insurance claim due to any accident/s on 4th month from subscription, he needs to pay rest 8 months’ subscription fee in advance to clear the annual payment. As a result, that customer does not need to pay any subscription fee for rest of the coverage tenure. That means, if that customer needs to place/submit his 2nd Insurance coverage claim due to another accident/s on 6th month from subscription, he will not pay any subscription fee other than only CCTC part.
What would the maximum claim amount on different ages of device and subscription?
It will follow the below example:
| Header | Value |
| Device Purchase date | 1-Sep-20 |
| Device Value as per Invoice | 10000 |
| Subscription activation date | 1-Jan-21 |
| Device age from purchase date | 4 months |
| Depreciation % of the invoice value as per table | 80% |
| Sum Insured Value as per depreciation % table | 8000 |
| Monthly premium for Damage Coverage Policy [Including VAT+SD] | 73.6 |
| 1st Claim Date | 1-Mar-21 |
| Age of Insured device from subscription activation | 3 months |
| Depreciation % of Sum Insured Value as per subscription age | 90% |
| Depreciated Sum insured | 7200 |
| Max. Claim eligibility in 3rd month | 7200 |
| 1st Claim Value as for example | 1500 |
| 2nd Claim Date | 1-Jun-21 |
| Age of Insured device from subscription activation | 6 months |
| Depreciation % of Sum Insured Value as per subscription age | 80% |
| Depreciated Sum insured | 6400 |
| Max. Claim eligibility in 6th month | 4900 |
| 2nd Claim Value as for example | 1500 |
| 3rd Claim Date | 1-Sep-21 |
| Age of Insured device from subscription activation | 9 months |
| Depreciation % of Sum Insured Value as per subscription age | 70% |
| Depreciated Sum insured | 5600 |
| Max. Claim eligibility in 9th month | 2600 |
| 3rd Claim Value as for example | 1000 |
No claim will be accepted during first 30 days after activation. Customer will be entitled for a claim from 31st day onwards. The initial 30 days of the active Service is considered as ‘Cooling Period’. Within the Cooling Period the purchaser cannot return the policy for whatever reasons.
Before you hand over your damaged smartphone to our courier for repairs, please ensure to:
- Backup your files
- Remove your SIM & other memory card
- Unlink your phone from your e-mail, messengers, social media accounts, or anything else the phone may be connected to
- Remove security locks
- Place your smartphone in a logistic partner provided- bubble-wrap or other suitable packaging material and pack it in a sturdy box which offers great protection during transit.
- Label the box clearly with your name and the information shared by Altruist secure via SMS (i.e. AWB number and Altruist address)
CCTC (Customer contribution to claim) is 10% of the claim value/repair value or 1000 taka whichever is lower. Customer must deposit the amount immediately post in principle approval directly to Altruist a/c via Bkash.
Altruist will take full responsibility of Device Insurance service and will manage entire value chain and customer journey.
| Policy Name | Slab (Sum Insured value based on Device purchase invoice) | Monthly Payment (Base PP) | Monthly Pach with VAT | Annual Pack Base PP | Annual Pack with VAT |
| Damage coverage policy | 2000 to 10000 | 64 | 73.6 | 768 | 883.2 |
| Damage coverage policy | 10001 to 20000 | 128 | 147.2 | 1536 | 1766.4 |
| Damage coverage policy | 20001 to 30000 | 193 | 221.95 | 2316 | 2663.4 |
| Damage coverage policy | 30001 to 40000 | 257 | 295.55 | 3084 | 3546.6 |
| Damage coverage policy | 40001 to 50000 | 321 | 369.15 | 3852 | 4429.8 |
| Damage coverage policy | 50001 to 75000 | 481 | 553.15 | 5772 | 6637.8 |
| Damage coverage policy | 75001 to 100000 | 642 | 738.3 | 7704 | 8859.6 |
| Damage coverage policy | 100001 to 150000 | 963 | 1107.45 | 11556 | 13289.4 |
| Full Coverage policy (damage + theft/ lost). | 2000 to 10000 | 83 | 95.45 | 996 | 1145.4 |
| Full Coverage policy (damage + theft/ lost). | 10001 to 20000 | 167 | 192.05 | 2004 | 2304.6 |
| Full Coverage policy (damage + theft/ lost). | 20001 to 30000 | 250 | 287.5 | 3000 | 3450 |
| Full Coverage policy (damage + theft/ lost). | 30001 to 40000 | 333 | 382.95 | 3996 | 4595.4 |
| Full Coverage policy (damage + theft/ lost). | 40001 to 50000 | 417 | 479.55 | 5004 | 5754.6 |
| Full Coverage policy (damage + theft/ lost). | 50001 to 75000 | 625 | 718.75 | 7500 | 8625 |
| Full Coverage policy (damage + theft/ lost). | 75001 to 100000 | 833 | 957.95 | 9996 | 11495.4 |
| Full Coverage policy (damage + theft/ lost). | 100001 to 150000 | 1250 | 1437.5 | 15000 | 17250 |
| Theft/ Lost coverage policy | 2000 to 10000 | 28 | 32.2 | 336 | 386.4 |
| Theft/ Lost coverage policy | 10001 to 20000 | 55 | 63.25 | 660 | 759 |
| Theft/ Lost coverage policy | 20001 to 30000 | 83 | 95.45 | 996 | 1145.4 |
| Theft/ Lost coverage policy | 30001 to 40000 | 110 | 126.5 | 1320 | 1518 |
| Theft/ Lost coverage policy | 40001 to 50000 | 138 | 158.7 | 1656 | 1904.4 |
| Theft/ Lost coverage policy | 50001 to 75000 | 206 | 236.9 | 2472 | 2842.8 |
| Theft/ Lost coverage policy | 75001 to 100000 | 275 | 316.25 | 3300 | 3795 |
| Theft/ Lost coverage policy | 100001 to 150000 | 413 | 474.95 | 4956 | 5699.4 |
What is Device Insurance product from Altruist Secure?
Altruist Secure is a Mobile App based Device Insurance subscription that permits you to activate Insurance benefits for your valued iOS & Android supported smartphones. Your gadget is ensured and fully protected against any unexpected incident like - damage, theft and lost. You can download the App named – “Altruist Secure BD” from both Android Play store/iOS App store.
What will be the Insurance Coverage period and subscription fee payment frequency?
It is an annual [12 months from activation date] subscription and coverage product where customer will be under 12 months’ Insurance Coverage and can pay the annual subscription fee at a single go/equal monthly installment [equal 12 payments].
Which device is eligible for Altruist Secure Insurance Coverage?
- Any newly purchased smartphone (iOS/Android supported) from any physical retail/online.
- Existing old smartphone aging up to 13 months from purchase date mentioned in purchase invoice.
- Must have valid purchase invoice issued by physical retail/online mentioning Device Brand, Model, MRP & IMEI.
- Need to use GP number only for subscription.
Is this Insurance product only for GP subscriber?
What all packs are available under Altruist Secure Subscription?
There are 3 types of Insurance policies–
- Damage coverage policy
- Theft/Lost coverage policy
- Full Coverage policy (damage + theft/lost).
What is basically the Insurance Coverage in three different policies?
- Damage coverage: Any damage caused to a mobile phone hardware (each component including its screen) by any sort of accident e.g., fire/liquid/drop.
- Option1: Altruist assigned logistic partner will pick the insured phone from customer’s doorstep and return the phone to customer doorstep as well after repairing by 7 working days [standard turnaround time] from the pick-up under 100% own arrangement and cost.
- Logistic partner will pick up the phone by 2 working days [standard timeline] in metropolitan cities and by 3 working days [standard timeline] in district level from completing the document. Standard turnaround time is 7 working days if the insured device is under out of manufacturer warranty because it will be repaired by Altruist’s repair partner- Quickfix using grade 1 copy parts.
- Standard turnaround time of 7 days is not applicable when the insured Device is under warranty because that will be repaired from device vendor’s authorized service center only by using original parts. In this case, device vendor’s authorized service center provided timeline will be considered as turnaround time and communicated to the customer. If customer is not paying CCTC (Customer contribution to claim) amount within 48 hours after placing a request, standard turnaround time will not be applicable.
- Option 2 (In case of inability to meet 1st option, Altruist can opt 2nd option): Altruist will pay back to locally repaired cost to customers upon her/his consent and Altruist will pay any claim amount up to depreciated device value. In this case, Altruist will pay within 7 working days from the date of document and bill submission.
- Option 3 (In case of inability to meet above 2 options, Altruist can opt 3rd option): Altruist will pay back the full depreciated device value to customers. In that case, customer has to deposit the device to Altruist forever and Altruist will pay to customer within 7 working days from the date of sending the device to Altruist and altruist will keep the device forever.
- Theft/lost coverage: Any valid lost case supported by General Diary [GD] and lost SIM replacement copy from GP service point and theft case supported by First Information Report [FIR] at local police station and lost SIM replacement certificate copy from GP service point.
Coverage detail: Insurer will pay back the depreciated sum insured value to customers by 10 working days from the date of submission all documents. - Full coverage: Eligible for damage coverage and theft/lost coverage.
Coverage detail: mentioned against both 1 & 2.
What will be the Insurance Coverage period and subscription fee payment frequency?
It is an annual [12 months from activation date] subscription and coverage product where customer will be under 12 months’ Insurance Coverage and can pay the annual subscription fee at a single go/equal monthly installment [equal 12 payments].
What is the annual/monthly Insurance subscription fee for a device?
It will follow the below table–
| Policy Name | Slab (Sum Insured value based on Device purchase invoice) | Monthly Payment (Base PP) | Monthly Pach with VAT | Annual Pack Base PP | Annual Pack with VAT |
| Damage coverage policy | 2000 to 10000 | 64 | 73.6 | 768 | 883.2 |
| Damage coverage policy | 10001 to 20000 | 128 | 147.2 | 1536 | 1766.4 |
| Damage coverage policy | 20001 to 30000 | 193 | 221.95 | 2316 | 2663.4 |
| Damage coverage policy | 30001 to 40000 | 257 | 295.55 | 3084 | 3546.6 |
| Damage coverage policy | 40001 to 50000 | 321 | 369.15 | 3852 | 4429.8 |
| Damage coverage policy | 50001 to 75000 | 481 | 553.15 | 5772 | 6637.8 |
| Damage coverage policy | 75001 to 100000 | 642 | 738.3 | 7704 | 8859.6 |
| Damage coverage policy | 100001 to 150000 | 963 | 1107.45 | 11556 | 13289.4 |
| Full Coverage policy (damage + theft / lost). | 2000 to 10000 | 83 | 95.45 | 996 | 1145.4 |
| Full Coverage policy (damage + theft / lost). | 10001 to 20000 | 167 | 192.05 | 2004 | 2304.6 |
| Full Coverage policy (damage + theft / lost). | 20001 to 30000 | 250 | 287.5 | 3000 | 3450 |
| Full Coverage policy (damage + theft / lost). | 30001 to 40000 | 333 | 382.95 | 3996 | 4595.4 |
| Full Coverage policy (damage + theft / lost). | 40001 to 50000 | 417 | 479.55 | 5004 | 5754.6 |
| Full Coverage policy (damage + theft / lost). | 50001 to 75000 | 625 | 718.75 | 7500 | 8625 |
| Full Coverage policy (damage + theft / lost). | 75001 to 100000 | 833 | 957.95 | 9996 | 11495.4 |
| Full Coverage policy (damage + theft / lost). | 100001 to 150000 | 1250 | 1437.5 | 15000 | 17250 |
| Theft / Lost coverage policy | 2000 to 10000 | 28 | 32.2 | 336 | 386.4 |
| Theft / Lost coverage policy | 10001 to 20000 | 55 | 63.25 | 660 | 759 |
| Theft / Lost coverage policy | 20001 to 30000 | 83 | 95.45 | 996 | 1145.4 |
| Theft / Lost coverage policy | 30001 to 40000 | 110 | 126.5 | 1320 | 1518 |
| Theft / Lost coverage policy | 40001 to 50000 | 138 | 158.7 | 1656 | 1904.4 |
| Theft / Lost coverage policy | 50001 to 75000 | 206 | 236.9 | 2472 | 2842.8 |
| Theft / Lost coverage policy | 75001 to 100000 | 275 | 316.25 | 3300 | 3795 |
| Theft / Lost coverage policy | 100001 to 150000 | 413 | 474.95 | 4956 | 5699.4 |
What does Altruist Secure cover?
Only smart devices- Smartphones, Tablets & iPads (having Android & iOS operating system)
What does Altruist Secure cover?
Only smart devices- Smartphones, Tablets & iPads (having Android & iOS operating system)
What would be the Sum Insured Value [Maximum Insurance Coverage Value] of this device at the time of purchase?
Maximum Sum Insured value will be determined based on below table-
| Age of the Insured Gadget from purchase invoice date | Sum Insured value for maximum insurance coverage and insurance premium Identification |
| 0-3 months | 100% of the valid invoice value |
| 4-6 months | 80% of the valid invoice value |
| 7-9 months | 70% of the valid invoice value |
| 10-13 months | 60% of the valid invoice value |
What would be the depreciated Sum Insured Value [Maximum Insurance Coverage Value] at the time of claim?
| Age of the Insured Device from subscription Activation Month | Depreciated value |
| 0-1 month | Cooling period |
| 1-3 months | 90% of the Sum insured value |
| 4-6 months | 80% of the Sum insured value |
| 7-9 months | 70% of the Sum insured value |
| 10-12 months | 60% of the Sum insured value |
What would be the geographic coverage of claim incident?
This Policy covers devices bought from Bangladesh only and used or claim incident take place anywhere in the world.
How can you activate Altruist Secure?
You can download the App named– “Altruist Secure BD” from both Android Play store/iOS App store.
What all details customer needs to fill on the activation form in Mobile App?
The mandatory information will be required as follows-
- Mobile number [MSISDN]
- First name & Last name
- Email ID
- National ID
- Father Name
- Need to upload copy of valid Device Purchase Invoice issued by seller
How to raise a claim?
You can raise a claim via online portal/email/Call:
- Service request through the online portal - Visit our website http://bd.altruistsecure.com and log in using your registered mobile number.
- Service request by email- Send an email to http://Bangladesh.cc@altruistsecure.com
- Using Customer Care Number 09612449966
What is the time limit to raise a claim?
What information you need to fill while raising a claim?
The mandatory information will be required as follows
- Mobile Number and National ID number.
- Date of the incident.
- Type of Claim (Damage/theft/lost)
- Damage device pictures (front and back)
- In case of theft customer must submit FIR copy from local police station
- In case of loss customer must submit the GD copy from local police station.
- SIM replacement copy which has been lost with the theft or lost device.
How you will get updates?
How many claims can be raised?
What are the documents required to raise claim?
To ensure that you have a smooth service request process, please prepare the following information after submitting a claim. Please contact us at http://Bangladesh.cc@altruistsecure.com or call the hotline, if you require assistance. Below are the documents–
- Address for pick up or drop the device.
- Copy of National ID.
- Damage device pictures (front & back)
- In case of theft, submit the FIR copy + lost SIM replacement copy issued by GP stores.
- In case of loss submit the GD copy respectively + lost SIM replacement copy issued by GP stores.
How do I need to share documents after submitting a claim?
Customer must submit certain documents to avail the service. These can be uploaded via:
- App- ‘Altruist Secure BD’
- Visit us at bd.altruistsecure.com, login with your registered number and upload the documents.
- Mail us at bangladesh.cc@altruistsecure.com
What if I need any assistance in filling the forms?
Is there any payment required from customer for claim settlement?
- Before any claim can be settled, customer must pay the CCTC (10% of the claim amount) or 1000 taka whichever is lower.
- Also, at the time of 1st Claim, customer must pay the full annual subscription fee [payment of rest of the month’s fee if a customer is enjoying monthly subscription fee payment facility] in advance.
(For example, if a customer wants to place/submit his 1st Insurance claim due to any accident/s on 4th month from subscription, he needs to pay rest 8 months’ subscription fee in advance to clear the annual payment. As a result, that customer does not need to pay any subscription fee for rest of the coverage tenure. That means, if that customer needs to place/submit his 2nd Insurance coverage claim due to another accident/s on 6th month from subscription, he will not pay any subscription fee other than only CCTC part).
What would the maximum claim amount on different ages of device and subscription?
| Header | Value |
| Device Purchase date | 1-Sep-20 |
| Device Value as per Invoice | 10000 |
| Subscription activation date | 1-Jan-21 |
| Device age from purchase date | 4 months |
| Depreciation % of the invoice value as per table | 80% |
| Sum Insured Value as per depreciation % table | 8000 |
| Monthly premium for Damage Coverage Policy [Including VAT+SD] | 73.6 |
| 1st Claim Date | 1-Mar-21 |
| Age of Insured device from subscription activation | 3 months |
| Depreciation % of Sum Insured Value as per subscription age | 90% |
| Depreciated Sum insured | 7200 |
| Max. Claim eligibility in 3rd month | 7200 |
| 1st Claim Value as for example | 1500 |
| 2nd Claim Date | 1-Jun-21 |
| Age of Insured device from subscription activation | 6 months |
| Depreciation % of Sum Insured Value as per subscription age | 80% |
| Depreciated Sum insured | 6400 |
| Max. Claim eligibility in 6th month | 4900 |
| 2nd Claim Value as for example | 1500 |
| 3rd Claim Date | 1-Sep-21 |
| Age of Insured device from subscription activation | 9 months |
| Depreciation % of Sum Insured Value as per subscription age | 70% |
| Depreciated Sum insured | 5600 |
| Max. Claim eligibility in 9th month | 2600 |
| 3rd Claim Value as for example | 1000 |
When can first claim be raised?
No claim will be accepted during first 30 days after activation. Customer will be entitled for a claim from 31st day onwards. The initial 30 days of the active Service is considered as ‘Cooling Period’. Within the Cooling Period the purchaser cannot return the policy for whatever reasons.
What should I do to prepare my smartphone for repair?
Before you hand over your damaged smartphone to our courier for repairs, please ensure to:
- Backup your files
- Remove your SIM & other memory card
- Unlink your phone from your e-mail, messengers, social media accounts, or anything else the phone may be connected to
- Remove security locks
- Place your smartphone in a logistic partner provided- bubble-wrap or other suitable packaging material and pack it in a sturdy box which offers great protection during transit.
- Label the box clearly with your name and the information shared by Altruist secure via SMS (i.e. AWB number and Altruist address)
What do you mean by CCTC?
CCTC (Customer contribution to claim) is 10% of the claim value/repair value or 1000 taka whichever is lower. Customer must deposit the amount immediately post in principle approval directly to Altruist a/c via Bkash.
How customer pay the annual/ monthly premium?
Currently payments can be done only via Bkash wallet and a monthly subscriber has to maintain balance in their wallet for smooth transactions.
How to pay CCTC of the device claim?
Customer will pay the CCTC amount via Bkash or Altruist will share a payment link via SMS or email to make the payment.
How do I get updates about my service request status?
To check the status of your service request, you can login to our website bd.altruistsecure.com or mail us at Bangladesh.cc@altruistsecure.com. Or call the hotline.
Who is responsible for any types of product and service-related issues?
Altruist will take full responsibility and will manage entire value chain and customer journey.
What is the role of GP in this Device Insurance Product?
GP is the exclusive Telco partner who will promote this product through channel and communicate in ATL & BTL as per GTM.
