Betterment launches phone insurance with Sure partnership
- Betterment teamed up with tech company Sure to offer phone insurance.
- And to further differentiate its offering and enhance its competitive advantage, it should look to add more insurance options.
The US-based digital wealth manager has teamed up with tech company Sure to offer phone insurance, per a press release. Customers of Betterment Checking—the startup’s checking account and accompanying debit card—can purchase coverage for phone damage or theft, as long as they pay their monthly phone bill using a Betterment Visa debit card.
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While the claims process is supported by Sure’s platform, the insurance policy is being provided by an undisclosed global insurance company, and customers will receive up to $600 per claim, with a maximum of two claims per 12-month period and a $50 deductible for each claim.
Betterment Checking only launched a few months ago, and enhancing the offering