Hyderabad, Oct 14 (UNI) PhonePe, one of India’s leading fintech companies, on Monday announced the launch of a new insurance plan, offering comprehensive protection against firecracker-related accidents and providing users with affordable insurance coverage during the upcoming festive season of Diwali.

The coverage plan, available at just Rs nine (inclusive of GST), provides PhonePe users up to Rs 25,000 comprehensive coverage for 10 days during the festival period to safeguard against any firecracker-related accidents, the company said in a release.

With this launch, users nationwide can celebrate the festival with security and peace of mind, knowing that in the event of an accident, they are financially protected against hospitalization and accidental death expenses.

Due to firecracker-related injuries during the festive season across the country, PhonePe has introduced this product to combat any potential financial burden against such unexpected events.

The Firecracker insurance plan offers 10 days of coverage beginning from October 25, 2024, at an affordable price of just Rs nine.

The plan, which can be purchased under a minute on the PhonePe app, also provides comprehensive family coverage by insuring up to four family members, including the user, their spouse, and up to two children.

If a user makes the purchase after October 25, then the policy cover will start from the purchase date. This short-term coverage is tailored specifically to the festive season, offering affordable and timely protection to users.

Commenting on the launch, Vishal Gupta, CEO at PhonePe Insurance Broking Services, said, “This coverage offers essential protection for families, ensuring they can celebrate with peace of mind, free from concerns about accidents or unexpected financial strain. Our goal is to make insurance both affordable and accessible, allowing everyone to enjoy the festivities safely.”

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