Amidst the deadly second wave of Covid-19, on May 16, Mahindra & Mahindra declared an initiative to provide support to its new tractor customers with provisions for Rs. 1 lakh health insurance, plus pre-approved emergency financial support to farmers.
M-Protect COVID plan of Mahindra
The company has charted out ‘M-Protect COVID’ plan. Under this plan, the company has aimed to protect new customers and their families in case they contract the virus.
What does it include?
According to M&M, the plan includes a health cover of Rs. 1 lakh via a unique Covid-19 Mediclaim policy to cover the customer who has contracted Coronavirus infection and provide them home quarantine benefits.
In addition, the company will offer financial support through pre-approved loans so that it supports the medical expenses incurred in the treatment.
In case of loss of life, the company says it will insure the loan under ‘Mahindra Loan Suraksha.’
Who can avail this loan facility?
M-Protect COVID Plan of Mahindra & Mahindra is for the whole range of the company’s tractors and for customers who purchase a tractor in May 2021.
Statement of M&M President
Hemant Sikka, President – Farm Equipment Sector said that their plan is a novel initiative that targets farmers. He said, “we stand by them to drive positive change even in these tough times. With M-Protect we are privilege to serve and support them to reduce the impact of a Covid-related eventuality. With M-Protect we hope our farmers continue to have a healthy life.”
About Mahindra
Mahindra & Mahindra Limited is an Indian automotive manufacturing company at the multinational level. Its headquarters is in Mumbai, Maharashtra. It was set up in 1945 with the name Muhammad & Mahindra. Later, it was renamed as Mahindra & Mahindra.
The founders of this company were: Ghulam Muhammad, Kailash Chandra Muhindra, and Jadish Chandra Mahindra.
For about 50 years, the company has been ruling the roost in utility vehicles. It is the world’s largest tractor seller. In terms of production, it is India’s biggest vehicle manufacturers.
Today, Mahindra exhibits an impressive portfolio of a fleet of vehicles ranging from two-wheelers to heavy trucks, SUVs, and school buses, not mentioning tractors.
CEO and Managing Director: Pawan Goenka
Executive Chairman: Anand Mahindra
