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ICICI Lombard and PhonePe launched Hospital Daily cash benefit 

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PhonePe, ICICI Lombard team up to offer Hospital Cash coverICICI Lombard in partnership with PhonePe has launched Hospital Daily cash benefit under its Group Safeguard Insurance policy, a sachet-based group insurance product.

It is a customized hospitalisation policy that allows PhonePe users to get an assured amount if they are hospitalised due to injury or illnesses(including COVID-19).

i.Claim

  • The hospital bills are not required for the claim, a discharge certificate will be sufficient in most cases for the claim processing. 
  • To be eligible for the claim, a minimum of 48 hours hospitalisation is required along with a deductible of one day for each claim.
  • Customers who already have mediclaim policies, employer health insurance, self-funded means of paying hospital bills will also be eligible for the claim payout benefit.

ii.Cover

Through this cash benefit, customers can choose a cover from Rs 500 per day up to Rs  5,000 per day at an annual premium starting at Rs 130 including taxes, effectively costing Rs 0.35 per day.

iii.Policy can be bought through the app– The users of PhonePe can buy the policy through the app, from the “My Money” section The policy documents can be viewed by the customers instantly on the app. 

iv.Hospitals covered & double insurance cover– All government and private hospitals come under the insurance cover. The patients who are admitted in the ICU will be qualified for double the insurance cover.

Recent Related News:

i.PhonePe Partnered with ICICI Bank on Unified Payments Interface(UPI) multi-bank model.

ii.PhonePe along with ICICI Lombard launches ‘first of its kind’ domestic trip travel insurance.

About PhonePe:
HeadQuarter– Bengaluru, Karnataka
Chief Executive Officer(CEO)– Sameer Nigam

About ICICI Lombard:
HeadQuarter– Mumbai, Maharashtra
Managing director(MD) & CEO– Bhargav Dasgupta