PhonePe insurance: Now, get covered for virus-based pandemic diseases; policy premium starts at just Rs 216

Digital payment platform PhonePe is offering international travel insurance that covers virus-based pandemic diseases to help users manage potentially hefty offshore medical costs, a company release said. PhonePe recently made inroads into the insurance distribution following last month’s launch of international travel insurance with Bajaj Allianz General Insurance, the releases said.

It provides a host of other first-of-its-kind exclusive benefits such as an insured sum of up to $1 million and special pricing starting at Rs 216, the company claimed in a release.

Additionally, users opting for the coverage will have access to instant refunds with no cancellation charges before the travel start date and 24x7 international travel assistance across 220+ countries, the release further said.

Through the scheme, PhonePe seeks to aid users to secure their planned trip by protecting against a growing number of travel-related risks, the company said. According to figures mentioned in the release,  more than 25 million Indians are traveling abroad every year, predominantly to Southeast Asian destinations.

Users can purchase travel insurance on the PhonePe app and save their policy certificates along with their basic information on the app to make repeat purchases simpler, easier, and faster, the release said.

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Bengaluru-headquartered PhonePe is the fastest growing digital payment platform in India with over 185 million registered users, the company release said.