PhonePe offers Star Health Insurance’s policy on its digital platform

By Edil Corneille

Star Health and Allied Insurance, a standalone health insurance company in India, announced the launch of its Arogya Sanjeevani policy on Indian digital payments platform, PhonePe. All PhonePe users can now protect their families from financial burdens in the event of any medical emergency. The policy is available at an annual premium of INR 2,985/- (excluding GST) for an insured sum of INR 100,000.

Through PhonePe’s digital platform, the aim is for the provision of easy accessibility to the Arogya Sanjeevani health insurance policy, especially to millennials. PhonePe users can instantly avail this policy without any medical screening through the PhonePe app within a few easy clicks.

Star Health’s Arogya Sanjeevani policy is said to be a beneficial and affordable health insurance policy. This policy has been designed to cover the most essential aspects of any instance of hospitalisation in the family. The policy covers anyone up to 65 years with sum insured options up to INR 1 million. Arogya Sanjeevani policy comes with several advantages such as covering all daycare procedures, lifelong renewals, cumulative bonus, cataract treatment and Ayush Treatment to the limit of the sum insured. Star Health has a tie up with over 10,200 hospitals across India as part of its cashless network where its customers can avail hassle-free claim services.

Bengaluru-based PhonePe in January 2021, earmarked stock options worth USD 200 million for its 2,200 employees. The announcement comes after Flipkart had announced in December 2020 the partial spin-off of PhonePe, as the digital payment firm had raised USD 700 million in funding, valuing the FinTech company at USD 5.5 billion.