PhonePe launches coronavirus insurance policy, offers Rs 50,000 cover at Rs 156

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Published: April 1, 2020 3:46 PM

The statement said that PhonePe users can purchase the Corona Care policy on the PhonePe app itself, in the ‘My Money’ section.

coronavirus, coronavirus in India, coronavirus outbreak, coronavirus lockdown, coronavirus treatment cost, insurance cover for coronavirus, how to pay for coronavirus, how much does coronavirus treatment costThe insurance policy also offers a cover on 30 days of pre-hospitalization expenses and post-care medical treatment costs.

Coronavirus outbreak: One of the leading digital payment platforms in India, PhonePe on Wednesday announced the launch of an insurance policy for coronavirus hospitalisation. Called ‘Corona Care’ from Bajaj Allianz General Insurance, the policy is priced at Rs 156 and offers an insurance cover of Rs 50,000 for an individual under 55 years of age. The cover is applicable for any hospital which offers treatment for COVID-19.

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Moreover, the insurance policy also offers a cover on 30 days of pre-hospitalization expenses and post-care medical treatment costs. Apart from this, customers do not need to undergo any medical tests to purchase the policy and it can be downloaded instantly from the homes of the customers, which has been done keeping in mind the lockdown in the country.

PhonePe users can purchase the Corona Care policy on the PhonePe app itself, in the ‘My Money’ section. The process, PhonePe said, would take only two minutes and the policy document would be issued to the customers instantly on the app.

PhonePe founder and CEO Sameer Nigam said that despite the efforts across the globe to contain the virus, COVID-19 is spreading fast. Even as the Indian government has taken bold steps to tackle it, he said, several Indians do not have insurance covers and would be faced with an added financial burden if someone in their family unfortunately contracts the disease and needs to be hospitalised for treatment. He added that considering the time of the pandemic, PhonePe forewent its commission cost to make the policy available to all with the help of Bajaj Allianz.

Meanwhile Bajaj Allianz General Insurance MD and CEO Tapan Singhel said that the pandemic is affecting the country largely. While people are aware of the safety measures they should take in their daily activities, people should also ensure that they have the proper health care policy for any untoward situations, he said, adding that for that reason, Bajaj Allianz General Insurance collaborated with PhonePe to provide this policy cover.

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