PhonePe Introduces Affordable Monthly Health Insurance Plans
- ByStartupStory | July 18, 2023

PhonePe Insurance Broking Services, a subsidiary of PhonePe Pvt Ltd, has launched new health insurance plans in partnership with insurers. These plans offer monthly payment options and come with coverage up to Rs 1 crore. Notably, users have the freedom to choose any hospital room without any cap or limit, and the policies also include bonus features.
The company aims to make health insurance more accessible and user-friendly by offering pre- and post-sales assistance. This support helps users make informed decisions, file claims, and access other essential services related to their health insurance coverage.
PhonePe takes pride in its accomplishments, having sold approximately 5.6 million policies to date and provided over 200 million vehicle insurance quotes.
Hemant Gala, Vice President of Financial Services at PhonePe, emphasized the significance of affordability in health insurance. He said, “One of the biggest barriers in buying health insurance has been affordability, and we have solved the same by creating India’s first health insurance marketplace focused on monthly payments. We believe this will drive deep penetration, with users being able to pay in monthly subscriptions with a much lower financial burden.”