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BankingNABARD / RBI

HDFC ERGO and PhonePe Launch Rs 12-a-Day Health Cover

20 August 20251 min read
BANKING & FINANCEHDFC ERGO andPhonePe LaunchRs 12-a-Day HealthCover20 August 2025safalsetu.com

Why in the news

An insurer and a fintech app joined to bring basic health cover to young first-time buyers.

Key facts

  • Target: the missing middle, young adults aged 18 to 30.
  • Price and cover: from Rs 12 a day for Rs 3 lakh.
  • Channel: PhonePe app.

Significance

  • Raises health insurance penetration among younger, underserved people.
  • Insurer-fintech tie-ups widen financial inclusion.

Exam angle

  • Partners: HDFC ERGO and PhonePe.
  • Term: missing middle.

Test yourself

1. HDFC ERGO and PhonePe's new health plan has premiums starting at what daily amount?

Premiums start at Rs 12 per day.

2. The HDFC ERGO and PhonePe health insurance plan offers what cover at the starting premium?

The starting premium buys Rs 3 lakh of cover.

3. The HDFC ERGO-PhonePe health plan is mainly aimed at which age group?

It targets young adults aged 18 to 30.

This topic is part of Daily Current Affairs 20 August 2025 (16 topics).

All topics of the dayDay quizAugust 2025

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