You can now buy medical cover from PhonePe’s Health Insurance platform with monthly subscriptions

PhonePe Insurance Broking Services today announced the launch of health insurance plans that offer comprehensive insurance in partnership with many insurers. What sets these plans apart is the introduction of monthly payments through UPI, making them more affordable.

PhonePe Insurance Broking Services is a wholly-owned subsidiary of PhonePe Pvt. Ltd. and is registered with IRDAI as a Direct Broker (Life and General). PhonePe has sold more than 5.6 million policies to date across 98% of India’s PIN codes and has served more than 200 million vehicle insurance quotes.

These health insurance plans, which come with coverage up to Rs 1 crore, allow users to choose any hospital room without any cap or limit. A user can also avail of innovative features like a bonus cover up to seven times the base cover amount for each claim-free year. The plans offered by PhonePe Insurance Broking are accompanied by pre- and post-sales assistance to help users make informed decisions, file claims, and access other services.

Hemant Gala, PhonePe’s Vice President for Financial Services, said, “One of the biggest barriers in buying Health Insurance has been affordability and we have solved the same by creating India’s first Health Insurance marketplace focused on monthly payments. We believe this will drive deep penetration with users being able to pay in monthly subscriptions with a much lower financial burden.’’

Purchasing health insurance on PhonePe is simple and easy. This is all a user needs to do:

Enter basic details for all the members you want to insure
Proceed to the quotes page, select the desired quote, and move to the next page to enter personal and health details
Review the information and either set up your monthly mandate or pay annually