PhonePe launches coronavirus hospitalisation insurance policy ‘Corona Care’

At a time when there is a spurt in the number of Covid-19 cases in India, Walmart-owned digital payments PhonePe has announced the launch of a unique coronavirus hospitalisation insurance policy called “Corona Care.” For this, it has partnered with Bajaj Allianz General Insurance, one of the country’s largest general insurance companies.

The company said 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 offering coronavirus treatment. It also covers 30 days of expenses related to pre-hospitalization costs and post-care medical treatment. Customers don’t need to undertake any medical tests before purchasing the Corona Care policy. They can purchase it instantly from the convenience of their homes considering the current lockdown observed in the country.

“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,” said Sameer Nigam, founder and CEO, PhonePe. “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.”

PhonePe users can purchase their Coronavirus insurance policy 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.

“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,” said Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance.

Till Wednesday afternoon, some 873,767 people worldwide had been infected by Covid-19, and around 43,288 had died, according to data by Johns Hopkins University. About 184,771 people had recovered. In India, 1,590 people had been infected by Covid-19, of which 45 had succumbed.

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