HDFC ERGO General Insurance has partnered with PhonePe to launch an affordable health insurance plan aimed at India’s “missing middle”—roughly 40 crore people who are outside government schemes and lack private insurance. The product, introduced under HDFC ERGO’s Suraksha Sankalp initiative, is being distributed on the PhonePe app with an initial roll-out in Hyderabad, Nagpur, and Madurai, before expanding to more cities.
| Partners | HDFC ERGO General Insurance × PhonePe |
|---|---|
| Target segment | India’s “missing middle”; primarily young adults (18–30), first-time buyers |
| Coverage | Base sum insured **₹3 lakh**; cashless network; OPD to hospitalization benefits |
| Starting price | From **₹12/day** for ₹3 lakh coverage (as per media reports/press note) |
| Availability | PhonePe app; live in **Hyderabad, Nagpur, Madurai**; wider roll-out planned |
| Status | Subject to **IRDAI approvals** (per press release) |
What’s new / key features
- Comprehensive benefits: Plan promises a 360° medical cover stack—cashless hospitalization, OPD consultations, cover for listed consumables during hospitalization, personal accident and vector-borne disease benefits. (Final inclusions per filed product and policy wording.)
- Daily benefit add-ons: As outlined, ₹2,000/day for up to 15 days of hospitalization; ₹1,500/day for up to 10 days in case of vector-borne diseases.
- Primary care access: Unlimited GP tele-consults plus in-person consults up to ₹2,000, helping first-time buyers use the plan beyond major admissions.
- Digital onboarding: End-to-end purchase and issuance on the PhonePe app, with a dedicated “Missing Middle” hospital network for cashless claims.
Pricing & eligibility (at a glance)
- Starting premium: Communications cite from ₹12/day for ₹3 lakh coverage; actual premium varies by age, city, cover options, and add-ons.
- Who it’s for: Emphasis on 18–30 age band and first-time insureds, including workers in the unorganised and gig economy who often lack employer cover.
- Where to buy: PhonePe → Insurance → Health, with staged roll-out beyond the first three cities.
Why this matters
- Protection gap: NITI Aayog estimates ~40 crore Indians are uninsured—the so-called missing middle—and ~10 crore can slip into poverty due to healthcare costs. A low-ticket, digital-first plan targets that gap.
- Access & affordability: App-based purchase + cashless network + OPD support can boost utilization, not just ownership of a policy.
- Distribution flywheel: PhonePe’s scale (640M+ users; 45M+ merchants) offers reach in Tier-2/3/4 markets where penetration lags.
What to check before you buy
- Final policy wording: Confirm inclusions/exclusions, waiting periods (esp. for pre-existing illnesses), disease-specific caps, and consumables coverage list once filed/approved.
- Claim process: How the cashless process works at your nearest hospital; whether OPD claims are cashless or reimbursement.
- Renewal & loadings: Annual renewal terms, co-pays, and any claim-linked loading in later years. (Not specified yet; check product brochure on launch page.)
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