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Paytm launches COVID-19 insurance policy with 100% sum insured

Paytm launches COVID-19 insurance policy with 100% sum insured

Paytm launches COVID-19 insurance policy with 100% sum insured
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By CNBC-TV18 Apr 11, 2020 9:21 AM IST (Updated)

The policy aims at providing 100 percent of the sum-insured in case one is tested positive for coronavirus.

Paytm on Friday announced the launch of ‘COVID-19 Benefit Insurance Policy’ in collaboration with Reliance General Insurance. The policy aims at providing 100 percent of the sum insured in case one is tested positive for coronavirus.

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“The patient will not have to wait for the entire treatment to get completed to receive the financial help,” Paytm said in a statement.
The policy will cover against a positive diagnosis of coronavirus, 14-day quarantine, along with loss of pay or job loss. Additionally, it will offer a waiver to the 45 days travel exclusion policy.
The policy will cover individuals between the ages of 3 months to 60 years, with a wide range of sum-insured options ranging from Rs 25,000 to Rs 2 lakh.
The 'COVID-19 Benefit Insurance Policy' will offer a validity period of one year.
"With our COVID-19 Benefit Insurance Policy, we aim to provide simple health insurance coverage that will take care of most expenses that a coronavirus patient might have to incur. The digital policy can be purchased on the Paytm app and is generated online within a few minutes from the safe confines of one's home," said Amit Nayyar, President- Paytm.
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