Paytm Issues COVID-19 Insurance that covers Loss of pay and many more

In collaboration with Reliance General Insurance, Paytm announces COVID-19 Benefit Insurance Policy. It aims at reducing the financial implications one might incur suffering from COVID-19. Check out more details here.

by Monika

Updated: Apr 10, 2020 16:44 IST

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Paytm Offers Insurance Cover for Loss of Pay, Quarantine Expenses, etc.,

Today, Paytm announced its COVID-19 Benefit Insurance Policy that comes with a validity of 1 year, and the policyholders can choose from different plan options based on their needs. The policy comes with a 15 days waiting period before the policyholder can claim against the policy. The process of purchasing the policy can be done through the Paytm app, which does not require any manual documentation.

Paytm's COVID-19 Insurance is in collaboration with Reliance General Insurance, and the plan will give out 100% sum insured as a lump sum on being tested for COVID-19. The policyholder, if affected by the virus, will not have to wait ill the treatment gets over to receive the sum insured. The policy is available for people aged between 3 months and 60 years. The sum insured for this policy ranges from Rs. 25,000 to Rs. 2 lakh.

Amit Nayyar, President, Paytm said, "With this COVID-19 Benefit Insurance Policy, we will 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 sitting at home." Protection Status