You can get Rs 1 cr health cover with monthly EMI option on the PhonePe app

You can now opt for Star Health Insurance's comprehensive policy, offering coverage up to Rs 1 crore rore, with either a convenient monthly EMI or a traditional annual payment plan on the PhonePe app.  This caters to a crucial need, particularly for younger generations who prioritize digital solutions and appreciate spreading financial burdens over time.

This industry-first initiative empowers users to choose quality health insurance with flexible payment options. 

The policy covers road ambulance and air ambulance expenses, out-patient medical consultation up to the limits, out-patient coverage for dental and Ophthalmic treatment, delivery expenses, organ donor expenses, provides coverage for newborn babies, including any congenital disorders, from day one of birth and vaccination expenses of the new born until the baby completes one year. Mental illnesses are covered up to the sum insured. The policy does not impose sub-limits for day care procedures. Accidental death and permanent total disablement is covered up to Rs. 1 Crore.

 Users can also opt to pay their premium with the UPI AutoPay mandate with a monthly EMI option and enjoy added convenience. 

This comprehensive plan offers a wide range of benefits, including:

1. OPD and Maternity Coverage: These features were identified as top priorities by PhonePe users, highlighting their importance in health insurance selection.
2. End-to-End Coverage: The policy provides coverage for a variety of medical needs, including hospitalization, day care procedures, ambulance services, dental and eye care, delivery expenses, newborn baby coverage, and even mental illness treatment.
3. Sum Insured Up to Rs 1 Crore: Customers can select a coverage amount that best suits their needs.
4. Wellness Programmes: The policy goes beyond just medical expenses, offering wellness programs and condition management initiatives.
5. Annual Health Check-Ups and Bonus: The plan includes annual health check-ups and a potential cumulative bonus on the base sum insured.

"We are excited to partner with PhonePe and offer health insurance targeted at Gen Z and Millennials since people in that group are digital natives. The partnership between Star Health Insurance and PhonePe will provide consumers with a hassle-free payment option that is light on the pocket and at the same time meets their wellness needs," said Anand Roy, MD and CEO of Star Health Insurance.

Users can purchase the policy via the PhonePe app by clicking on the Health Insurance option, selecting the members to be insured, the desired sum to be insured and the payment tenure. Here, they can choose either monthly EMIs or annual payments and then select the Star Comprehensive Insurance policy. Once they opt for the policy, the customers need to fill in their details, such as name, age, and gender, followed by the health history of all members to be insured. This will be followed by the regulator mandated Know Your Customer (KYC) form and declarations, once the payment is completed.

"PhonePe is excited about this partnership with Star Health. Star’s differentiated benefits combined with PhonePe’s distribution, customer centric approach and simple DIY journeys will help turbocharge insurance adoption and penetration in the country. We are on a mission to help turn India from an underinsured nation to one that is adequately insured and view this partnership with Star as a crucial milestone in this journey," said Vishal Gupta, CEO of PhonePe.