You can get medical cover of Rs 1 cr with monthly EMI option on PhonePe app | Personal finances | Trending Viral hub


You can now opt for Star Health Insurance’s comprehensive policy, which offers coverage up to Rs 1 crore, with a convenient monthly EMI or a traditional annual payment plan on the PhonePe app. This fills a crucial need, particularly for younger generations who prioritize digital solutions and appreciate spreading financial burdens over time.

This industry-first initiative allows users to choose quality health insurance with flexible payment options.

The policy covers road ambulance and air ambulance expenses, outpatient medical consultations up to limits, outpatient coverage for dental and eye treatments, childbirth expenses, organ donation expenses, provides coverage for newborn babies including any congenital disorder, from the day. one of birth and vaccination expenses for the newborn until the baby turns one year old. Mental illnesses are covered up to the insured sum. The policy does not impose sublimits for daycare procedures. Accidental death and permanent total disability are covered up to Rs. 1 million rupees.

Users can also choose to pay their premium with UPI auto payment mandate with a monthly EMI option and enjoy added convenience.

This comprehensive plan offers a wide range of benefits, including:

  1. OPD and Maternity Cover: These features were identified as top priorities by PhonePe users, highlighting their importance in health insurance selection.

  2. End-to-end coverage: The policy provides coverage for a variety of medical needs, including hospitalization, daycare procedures, ambulance services, dental and vision care, childbirth expenses, coverage for newborn babies, and even treatment of mental illness.

  3. Sum Insured up to Rs 1 Million: Customers can select the amount of coverage that best suits their needs.

  4. Wellness programs: The policy goes beyond medical expenses and offers wellness programs and condition management initiatives.

  5. Annual Health Checkups and Bonus: The plan includes annual medical check-ups and a possible cumulative bonus on the base sum insured.

“We are excited to partner with PhonePe and offer health insurance targeted at Generation Z and Millennials as people in that group are digital natives. The partnership between Star Health Insurance and PhonePe will provide consumers with a hassle-free payment option that is light on the pocket while meeting your wellness needs,” said Anand Roy, MD and CEO of Star Health Insurance.

Users can purchase the policy through the PhonePe application by clicking on the Health Insurance option, selecting the members to be insured, the desired amount to be insured and the payment duration. Here, they can choose monthly EMI or annual payments and then select the Star comprehensive insurance policy. Once opting for the policy, customers need to fill in their details such as name, age and gender, followed by the medical history of all the members they They will be insured. This will be followed by the regulator-mandated Know Your Customer (KYC) form and disclosures once payment is completed.

“PhonePe is excited about this partnership with Star Health. Star’s differentiated benefits combined with PhonePe’s distribution, customer-centric approach and easy DIY travel will help drive insurance adoption and penetration in the country. We have the mission of helping India move from being an underinsured nation to one that is adequately insured and let us consider this partnership with Star as a crucial milestone in this journey,” said Vishal Gupta, CEO of PhonePe.

First published: April 3, 2024 | 13:36 IS


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