₹25,000 cover against firecracker mishap in Diwali: How to avail, premium for 30-day financial protection, 11-day plan

Fintech payments platform PhonePe has announced its comprehensive firecracker insurance for the third consecutive year, offering medical coverage of up to ₹25,000 for “fixed, pocket-friendly premiums”, the company said in a release.

The Walmart-owned platform said that its firecracker insurance, available digitally on PhonePe and underwritten by Aditya Birla Health Insurance (ABHI), protects customers against firecracker-induced mishaps during the Diwali festive season.

A seasonal micro-insurance product, it aims to provide enhanced assurance and protection to buyers so they can enjoy their Diwali festivities knowing they have financial support in the event of an unanticipated incident.

The policy offers protection across three main areas:

• Hospitalisation Cover: Provides reimbursement up to ₹25,000 for inpatient medical stays exceeding 24 hours. This protects the primary policyholder, spouse, and up to two dependent children.
• Day-Care Treatment: Covers medical expenses up to ₹25,000 for minor procedures or burn treatments requiring less than 24 hours of hospital admission. This protects the primary policyholder, spouse, and up to two dependent children.
• Accidental Death Benefit: Provides a fixed lump-sum payout of ₹25,000 (applicable exclusively to the primary policyholder). This is limited exclusively to the primary policyholder.

According to the release, the insurance coverage is offered through two variants to accommodate different festive schedules. However, for clarity during purchase, only one active plan is displayed on the platform at any given point:

• 30-day plan: Priced at ₹21, this variant is live from October 15, offering active policy coverage till November 14. Valid for 30 days from the date of purchase.
• 11-day plan: Priced at ₹11, this variant goes live closer to Diwali on November 5, providing coverage till November 15. Valid for 11 days from the date of purchase.

“The plan has been designed to be simple, transparent, and easily accessible. Users can purchase the policy in under a minute, directly on the PhonePe app, and secure immediate coverage,” the release added.

Here is the stepwise guide:

• Open the Insurance section on the PhonePe app and select Firecracker Insurance.
• Select the plan details, with a sum insured of ₹25,000 and a fixed premium of ₹11 or ₹21, with only one variant active at a time.
• View the insurer’s information and a detailed breakdown of the plan benefits.
• Fill in the policyholder’s details and tap ‘Proceed to Pay’ to complete the process.

Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="jocelyn.fernandes@htdigital.in">jocelyn.fernandes@htdigital.in</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>

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HomeMoneyPersonal Finance ₹25,000 cover against firecracker mishap in Diwali: How to avail, premium for 30-day financial protection, 11-day plan

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