PhonePe has introduced a new insurance policy to protect users from firecracker-related accidents during the upcoming Diwali season. Priced at Rs 9, the plan offers coverage up to Rs 25,000, as announced by the Walmart-owned fintech company.
The policy will be effective for 10 days, starting from October 25, providing protection against firecracker mishaps. Users can purchase the plan through the PhonePe app, ensuring coverage for themselves and their families during the festive period.
The insurance covers up to four family members, including the user, their spouse, and two children. If bought after October 25, the policy will begin from the purchase date and remain active for the next 10 days.
Although tailored for the Diwali season, this policy is part of a broader group of personal accident insurance underwritten by Bajaj Allianz General Insurance Co. PhonePe emphasized that this short-term coverage ensures safety and peace of mind for families.
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Vishal Gupta, CEO of PhonePe Insurance Broking Services, stated that their goal is to provide affordable and accessible insurance to help families celebrate Diwali without worrying about financial burdens caused by accidents.
Diwali, celebrated between October 29 and November 3 this year, often sees firecracker-related incidents. For example, in 2023, Delhi reported 208 fire-related calls, including 22 firecracker-related incidents, highlighting the need for such safety measures.
