PhonePe’s seasonal policy offers up to Rs 25,000 in medical cover for firecracker-related injuries, with 11-day and 30-day options available through its app.
PhonePe has brought back its firecracker insurance for the third year in a row, offering a small seasonal policy aimed at cushioning the financial shock of Diwali-related accidents. The coverage is available digitally through the PhonePe app and is underwritten by Aditya Birla Health Insurance, with premiums starting at Rs 11 and a maximum medical cover of Rs 25,000. The company says the product is designed to be quick to buy and simple to understand, with immediate cover available once the purchase is completed.
The plan is built around three benefits: reimbursement for hospitalisation, day-care treatment for burns or similar injuries, and an accidental death payout. According to the details shared by PhonePe, hospitalisation and day-care cover extend to the primary policyholder, a spouse and up to two dependent children, while the death benefit applies only to the main policyholder. PhonePe says the policy can be bought in under a minute, reflecting its broader push to make insurance more accessible on mobile devices.
There are two versions of the cover. A 30-day plan, priced at Rs 21, went live on October 15 and provides protection until November 14. A lower-priced 11-day option, at Rs 11, becomes available closer to Diwali on November 5 and runs through November 15. PhonePe says only one version appears on the platform at a time, a presentation choice meant to keep the purchase process straightforward for users.
The festive micro-insurance offering fits into PhonePe’s wider insurance strategy, which has been growing alongside its digital payments business. Financial Express reported that the company sold more than 4 million digital insurance policies in 2023, taking cumulative sales beyond 9 million since the platform launched in September 2021. The same report said PhonePe has also processed hundreds of millions of insurance quotes, while partnerships with insurers such as Acko have broadened the range of motor, health and travel products available on the app. Other company messaging has stressed transparency and convenience as key selling points, particularly in motor insurance.
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