PhonePe, India’s top digital payments startup, has announced the launch of [email protected], a new health insurance plan aimed for young people who are purchasing their first health insurance policy. The new product is the first of its kind in the Indian digital payments industry, and it offers full health coverage at a low cost. The product’s highlight is the simple 3-step process for purchasing the insurance, which just asks the consumer to submit information such as name, age, gender, and email address, removing the typically onerous processes that deter new and young buyers.
At its low price point, Health @999 covers hospitalisation costs including as in-patient and ICU stays, childcare procedures, ambulance fees, and Ayush treatment, among other things. The plan’s cashless healthcare network covers 7600 facilities across the country. Health @999 is available immediately from PhonePe and has a lifetime warranty.
Speaking on the launch, Gunjan Ghai, VP & Head of Insurance, PhonePe said, “The [email protected] is designed for first-time insurance buyers, giving them access to high quality and affordable Health Insurance. We believe that 335+ million PhonePe users will greatly benefit from this offering which can be purchased quickly and easily on the PhonePe app. Our offering is designed with the idea that all Indians deserve access to high quality and affordable Health Insurance – irrespective of their income or education status. PhonePe with its deep expertise in bringing the best Insurance products to the market will help its users make better and smarter choices to reduce the financial risk of unforeseen events in their lives.”