PhonePe launches health insurance plans for young first-time buyers

PhonePe, a Walmart-owned digital payments company, has announced the introduction of Health@999, a new health insurance plan aimed at youthful first-time health buyers.

The current offering, according to PhonePe, is the first of its kind in the Indian digital payments industry and offers full health coverage at an inexpensive price.

The product’s highlight is the simple 3-step process for purchasing the insurance, which simply asks the consumer to enter information such as name, age, gender, and email address, removing the tedious processes that deter new and young buyers.

“The Health@999 is aimed for first-time insurance consumers, providing them with high-quality, affordable health insurance,” said Gunjan Ghai, PhonePe’s VP and Head of Insurance.

“We hope that this option, which can be purchased quickly and easily via the PhonePe app, will help 335 million PhonePe customers considerably.”

At its low price point, Health @999 covers hospitalization costs including as in-patient and ICU stays, childcare procedures, ambulance fees, and Ayush treatment, among other things.

The plan’s cashless healthcare network covers 7600 facilities across the country.
Health @999 is available immediately via PhonePe and has a lifetime renewal function.

“Our service is based on the belief that all Indians, regardless of their income or educational status, deserve access to high-quality, inexpensive health insurance,” Ghai added.

“With its extensive experience in bringing the best Insurance products to market, PhonePe will assist its customers in making better and more informed decisions to lessen the financial risk of unanticipated catastrophes in their life.”

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