Flipkart-owned PhonePe on Wednesday said it has launched a coronavirus hospitalisation insurance policy called 'Corona Care' in partnership with Bajaj Allianz General Insurance.
The policy is priced at Rs 156 with an insurance cover of Rs 50,000 for a person aged under 55 years, and the cover is applicable at any hospital offering coronavirus treatment, a statement said.
It also covers 30 days of expenses related to pre-hospitalisation costs and post-care medical treatment, it added.
Users can purchase the policy from the PhonePe app, and the customer is issued policy documents within the app, it said.
"The Indian government has taken very bold steps towards containing the outbreak in India. However, many Indians don't have health insurance covers, so they will be faced with an added financial burden in case someone in their family needs to get hospitalisation treatment for COVID-19," PhonePe founder and CEO Sameer Nigam said.
He added that PhonePe has decided to forego its commission, thus enabling an affordable product with Bajaj Allianz General Insurance.