PhonePe rolls out health insurance plan for first-time buyers

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The ongoing COVID-19 pandemic has shown us the importance of health insurance. Health insurance comes in handy during a major medical emergency.

Now popular online payment app PhonePe has introduced new health insurance plans for its users. The plan will benefit those purchasing health insurance for the first time. You can purchase insurance through PhonePe in just three easy steps.

You can purchase the health insurance policy without having to submit any test or health report. You can purchase a font by simply entering your name, gender, age, and email id.

Let us tell you that PhonePe is the first payment app to offer health insurance policies on its platform. Health insurance policies start from just Rs 999 and can provide insurance coverage of Rs 1,00,000.

Some of the important benefits included in the plan:

Hospitalization costs / Hospital treatment – The insurance covers hospitalization costs for patients hospitalized due to illness or accident, including treatment and hospitalization for COVID-19.

Room renting – The insurance will also cover the rent of the room, the boarding school, the costs of care provided by the hospital or the EHPAD during the stay of the insured. This is 2 percent of the sum insured.

USI/USC – ICU/CCU expenses up to 4% of the sum insured.

Ambulance costs – Ambulance charges with a maximum cap of Rs 2000 per incident are included in the emergency hospitalization policy.

The policy also offers AYUSH treatment and hospitalization costs for COVID-19 patients (will be covered 30 days after the policy start date).

The policy comes with lifetime renewal. Interested persons should also note that they can cancel the policy at any time provided they have made no claim. The premium will be deducted for the period of coverage and the remaining premium will be refunded. The refund amount is as follows:

  • Within 30 days of the policy start date – 75%
  • Within 31-90 days of policy start date – 50%
  • Within 3-6 months of policy start date – 25%
  • Beyond 6 months from the start date of the contract – NIL

For more details, you can log in PhonePe app and check the plan details.

The cashless hospital network for the plan is spread over 7,600 hospitals nationwide.

The Rs 999 insurance plan offers a health insurance coverage amount of Rs 1,00,000 but you can also opt for other options such as Rs 1999 for the Rs 2,00,000 plan and Rs 2649 for the Rs 3,00,000. These plans offer more insurance coverage.

How to buy health insurance plan through PhonePe?

  • Open the PhonePe app and tap on the Insurance tab on the home screen.
  • Press on [email protected] plan.
  • Choose your age group and the health insurance coverage you want.
  • Enter your name, gender, date of birth and email address.
  • After entering all the details, press “Buy” and make payment.
  • Now you have a policy.
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