With Diwali approaching, PhonePe is offering firecracker insurance with premiums starting at ₹11 and medical coverage of up to ₹25,000. The policy, underwritten by Aditya Birla Health Insurance, covers specified medical expenses arising from firecracker-related mishaps, subject to the policy terms and conditions.
The insurance is available in two variants: an 11-day plan priced at ₹11 and a 30-day plan priced at ₹21. The 30-day plan became available on October 15, while the 11-day plan is scheduled to go live on November 5, according to PhonePe.
What does PhonePe’s firecracker insurance cover?
The policy offers three benefits:
- Hospitalisation: Reimbursement of eligible medical expenses up to ₹25,000 for inpatient hospital stays exceeding 24 hours.
- Day-care treatment: Coverage of eligible medical expenses up to ₹25,000 for procedures, including burn treatments, that require less than 24 hours of hospital admission.
- Accidental death benefit: A lump-sum payout of ₹25,000 in the event of the covered accidental death of the primary policyholder.
Hospitalisation and day-care benefits cover the primary policyholder, their spouse and up to two dependent children. The accidental death benefit applies only to the primary policyholder.
The maximum medical coverage is ₹25,000; it should not be interpreted as a guaranteed payout for every incident. Claims will be subject to the policy’s terms, conditions and exclusions.
How to buy firecracker insurance on PhonePe
Users can check the policy and purchase it through the PhonePe app by following these steps:
- Open the PhonePe app and go to the Insurance section.
- Select Firecracker Insurance and check the available plan, premium and coverage period.
- Review the insurer’s details, benefits and applicable policy terms.
- Enter the required policyholder details and complete the payment.
The premium is ₹21 for the 30-day variant and ₹11 for the 11-day variant. The coverage period for each policy is based on its terms and purchase date.
Before buying, consumers should check the policy wording for exclusions, claim documentation requirements and the process for seeking reimbursement.
They should also verify the exact coverage dates displayed at the time of purchase, particularly if they plan to buy the insurance close to Diwali.