Startups & eCommerce giants venture into COVID focused health insurance; announce tie-ups

E-commerce giant Flipkart, in partnership with ICICI Lombard and Go Digit General Insurance, has launched health insurance policies on its platform covering COVID-19. Enabling health cover for consumers combating global pandemic, two health insurance policies come with instant claim benefits and do t require any medical tests at time of purchase.

policy is priced at an annual premium of Rs 159

According to industry estimates, about 56% of Indian population is t covered under any health insurance policy. COVID-19 Protection Cover by ICICI Lombard provides an instant Rs 25,000 benefit plan paid to customer on positive diagsis of Coronavirus. users will have to pay an annual premium of Rs 159 to buy it.  ditionally, policy provides services like health assistance benefit, virtual and teleconsultation benefit, and ambulance assistance.

It allows Flipkart's customers to submit digital copies of claim document to insurer for processing. Digit Illness Group Insurance offered by Digit Insurance allows consumers to avail a hospitalisation cover up to a sum assured of Rs 1 lakh with an annual premium of Rs 511.

Furr, re is limit on room rent or intensive care unit. policy covers 30 days pre-hospitalisation and 60 days post-hospitalisation fee. Policyholders can also avail 1 %of sum assured for ambulance services.

'Post claims, if any, policy will stand expired'

Similarly, PhonePe, a digital payments platform, is also selling a coronavirus hospitalisation insurance policy - Corona Care insurance policy. policy is offered in collaboration with Bajaj Allianz General Insurance. This product can be purchased directly via PhonePe mobile app. However,  policy is t open to senior citizens as maximum limit to buy this policy is 55 years.

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According to a statement by Phone Pe CEO Sameer Nigam, "PhonePe's Coronavirus insurance policy is valid for one year. Post claims, if any, policy will stand expired."

According to PhonePe press release, "PhonePe users can purchase ir coronavirus insurance policy under "My Money" section on PhonePe app. entire policy can be purchased through app and customers will be instantly issued ir policy documents inside PhonePe app."

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(With ncy inputs)