PhonePe unveils India’s first Coronavirus Insurance Policy

PhonePe, digital payments platform today announced the launch of a unique Coronavirus Hospitalisation Insurance policy tiled “Corona Care” offered by Bajaj Allianz General Insurance, one of India’s largest and most trusted general insurance companies.

Phonepe

This Coronavirus insurance policy is priced at Rs 156 with an insurance cover of Rs 50,000 for a person aged under 55 years and the cover is applicable at any hospital providing Coronavirus treatment. Besides, it covers 30 days of expenses related to pre-hospitalisation costs and post-care medical treatment. For enrolling, customers don’t need to undertake any medical tests. They can instantly purchase from the convenience of their homes amid the current lockdown observed in the country.

PhonePe users can purchase their Coronavirus insurance policy available under the “My Money” section on the PhonePe app. The entire policy purchase process takes less than 2 minutes and customers will be instantly issued their policy documents inside the PhonePe app.

Sameer Nigam, Founder & CEO, PhonePe said, “Unfortunately, despite global efforts to contain the pandemic, COVID-19 is still spreading fast and furiously across the world. The Indian government has taken very bold steps towards containing the outbreak in India. However, many Indians don’t have health insurance covers, so they will be faced with an added financial burden in case someone in their family needs to get hospitalization treatment for COVID-19. Keeping the societal well-being in mind in these tough times, PhonePe has decided to forego its commission thus enabling an affordable product with Bajaj Allianz General Insurance.”

Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “The COVID-19 pandemic outbreak is impacting our country and the world at large. We are aware of the safety measures which we must inculcate in our day-to-day activities, but we must also ensure our loved ones are taken care of with a requisite health insurance cover in case of an exigency. Through our collaboration with PhonePe, customers can now avail of this unique product which covers COVID-19 by following a few simple steps on the PhonePe app and can ensure that their family is secure. Our affordable insurance product integrated with other safety measures will help us to emerge stronger out of these challenging times.”

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