Now Reading: PhonePe offers ₹11 firecracker insurance for Diwali with ₹25,000 cover
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PhonePe offers ₹11 firecracker insurance for Diwali with ₹25,000 cover
PhonePe offers ₹11 firecracker insurance for Diwali with ₹25,000 cover
The Story in Brief
PhonePe is offering firecracker insurance for Diwali with premiums starting at ₹11, covering medical expenses up to ₹25,000. The policy, underwritten by Aditya Birla Health Insurance, is available in two variants: an 11-day plan at ₹11 and a 30-day plan at ₹21. The 30-day plan went live on 15 October, while the 11-day plan will be available from 5 November.
The cover includes hospitalisation and day-care treatment up to ₹25,000 for the policyholder, spouse and up to two dependent children. It also provides a lump-sum accidental death benefit of ₹25,000 for the primary policyholder only. Users can purchase the policy through the PhonePe app. The company advises buyers to check the policy wording for exclusions and verify exact coverage dates at the time of purchase.
Indian Opinion Analysis
PhonePe’s ₹11 firecracker insurance is a micro-insurance product targeted at short-term festive risk, bundling hospitalisation, day-care and accidental death coverage into a single low-premium plan. The ₹25,000 cap applies per policy, not per incident, and claims are subject to terms and exclusions listed at purchase. By selling through its own app, PhonePe reduces distribution cost and reaches users already transacting for Diwali shopping. The 11-day plan goes live on 5 November, leaving a narrow window for late buyers. The 30-day plan, available since 15 October, already covers the festival period. Consumers must verify exact coverage dates at checkout, as a last-minute purchase could leave days unprotected by the stated policy period.
Source: cnbctv18.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
