Shopkeepers can buy covid-19 cover from BharatPe
1 min read 30 Mar 2020, 03:21 PM ISTBharatPe has partnered with ICICI Lombard General Insurance Co Ltd to launch a coronavirus insurance cover for the 40 lakh merchants on its platform
PremiumThough the covid-19 pandemic has resulted in a country-wide lockdown, essential services such as supply of groceries and medicines among others are not suspended. This could possibly expose these shopkeepers to a greater risk of contracting the disease.
To protect such people, merchant payments and lending network BharatPe has partnered with ICICI Lombard General Insurance Co Ltd to launch a coronavirus insurance cover for the 40 lakh merchants on its platform. The policy can be purchased from the BharatPe mobile application.
The health cover is a defined benefit product which will pay out 100% of the sum insured on being tested positive for the pandemic. Merchants will have to pay a premium of ₹199 for a ₹25,000 cover for tenure of one year. Policyholders will have to submit the test reports and receipts while filing the claim. They can reach out to BharatPe customer care for the same.
“Since the outbreak of covid-19, there is an obvious fear of contracting the disease. Health products are a critical offering from our side and we wanted to ramp it up by reaching more and more people. With this product, we are trying to cover the merchant base which is vulnerable to the virus given the business activity," said Sanjeev Mantri, executive director, ICICI Lombard General Insurance.
While this policy will bring some relief to shopkeepers who test positive for the virus, Mint recommends having a regular health insurance plan in place before going for disease-specific plans. Also, note that Irdai has asked standard health insurance policies to cover costs of covid-19 treatment.
