PhonePe Launches rs11 Firecracker Insurance With Rs25,000 Coverage for Festive Season
With the festive season approaching, fireworks bring both joy and risk. To address this, PhonePe has reintroduced its Short-Term Firecracker Insurance Plan, offering affordable protection against firecracker-related accidents.
Key Highlights of the Plan
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Premium: Just ₹11 (including GST).
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Coverage: Up to ₹25,000 against firecracker-related mishaps.
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Duration: Valid for 11 days, covering Diwali and other festive celebrations.
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Eligibility: Policy covers the policyholder, spouse, and up to two children.
This initiative ensures that along with the festive cheer, families also enjoy a safety cushion against medical expenses or accidental risks linked to fireworks.
What Does the Policy Cover?
The plan provides financial protection in case of:
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Hospitalization costs (if admitted for more than 24 hours).
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Day-care treatments (for medical attention requiring less than 24 hours).
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Accidental death directly caused by fireworks.
How to Buy the Policy
Purchasing the policy is simple and can be done directly through the PhonePe app:
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Open the Insurance section.
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Select Firecracker Insurance.
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Review plan details and benefits.
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Enter required information and complete payment.
Important Timeline
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If bought before October 12, coverage applies throughout the festive season.
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If purchased later, the 11-day validity begins from the date of purchase.
Why This Plan Stands Out
Micro-insurance products are not new to India, but festival-specific covers focused on firecracker accidents are rare. PhonePe’s initiative fills this gap, providing families with peace of mind during one of the country’s most celebrated yet accident-prone times.
Expert View
Insurance experts see this move as a thoughtful innovation in India’s micro-insurance market. By pricing the policy at just ₹11, PhonePe makes it accessible for almost every household, ensuring that financial protection does not take a backseat amid festive spending.
Bottom Line
As celebrations light up the skies this Diwali, PhonePe’s Firecracker Insurance Plan adds an extra layer of safety. With minimal cost and quick purchase options, it allows families to enjoy the festivities without worrying about unexpected medical expenses or risks.
