₹25,000 cover against firecracker mishap in Diwali: How to avail, premium for 30-day financial protection, 11-day plan
Fintech payments platform PhonePe has announced its comprehensive firecracker insurance for the third consecutive year, offering medical coverage of up to ₹25,000 for “fixed, pocket-friendly premiums”, the company said in a release.
The Walmart-owned platform said that its firecracker insurance, available digitally on PhonePe and underwritten by Aditya Birla Health Insurance (ABHI), protects customers against firecracker-induced mishaps during the Diwali festive season.
What is the firecracker insurance on PhonePe?
A seasonal micro-insurance product, it aims to provide enhanced assurance and protection to buyers so they can enjoy their Diwali festivities knowing they have financial support in the event of an unanticipated incident.
The policy offers protection across three main areas:
What is the premium plans?
According to the release, the insurance coverage is offered through two variants to accommodate different festive schedules. However, for clarity during purchase, only one active plan is displayed on the platform at any given point:
How users can avail coverage on the PhonePe app:
“The plan has been designed to be simple, transparent, and easily accessible. Users can purchase the policy in under a minute, directly on the PhonePe app, and secure immediate coverage,” the release added.
Here is the stepwise guide:
- Open the Insurance section on the PhonePe app and select Firecracker Insurance.
- Select the plan details, with a sum insured of ₹25,000 and a fixed premium of ₹11 or ₹21, with only one variant active at a time.
- View the insurer’s information and a detailed breakdown of the plan benefits.
- Fill in the policyholder’s details and tap ‘Proceed to Pay’ to complete the process.
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