PhonePe Launches Health Insurance Platform With Monthly Subscriptions

New Delhi: PhonePe Insurance Broking Services, a wholly owned subsidiary of PhonePe Pvt Ltd, on Tuesday announced that the company has launched health insurance plans offering comprehensive insurance in partnership with leading insurers.  

"What sets these health insurance plans apart is the introduction of the UPI monthly mode of payment, making them more affordable for customers," the company said in a statement

These health insurance plans, which come with coverage up to Rs 1 crore, allow users to choose any hospital room without any cap/limit. A user can also avail of innovative features like a bonus cover up to 7 times the base cover amount for each claim free year.  The Health Insurance plans being offered by PhonePe Insurance Broking are accompanied by pre and post-sales assistance to help users make informed decisions, file claims, and access other services, added the company.

Commenting on the launch, Hemant Gala, Vice President Financial Services at PhonePe said, "One of the biggest barriers in buying Health Insurance has been affordability and we have solved the same by creating India’s first Health Insurance marketplace focused on monthly payments. We believe this will drive deep penetration with users being able to pay in monthly subscriptions with a much lower financial burden.’’

Purchasing Health Insurance on PhonePe is simple and easy. All a user needs to do is:

Enter basic details for all the members you want to insure.

Proceed to the quotes page, select the desired quote, and move to the next page to enter personal and health details.

Review the information and either set up your monthly mandate or pay annually