Key Highlights
- PhonePe and ICICI Lombard launch a low‑cost insurance product for participants of the Maha Kumbh Mela (13 Jan‑26 Feb 2025).
- Premiums: ₹59 for train/bus travelers, ₹99 for domestic‑flight travelers.
- Benefits include hospitalization up to ₹50,000, personal‑accident cover up to ₹1 lakh, trip‑cancellation and baggage loss reimbursement of ₹5,000, and repatriation of remains up to ₹10,000.
- Purchases are made via the PhonePe app under the ‘Insurance’ tab; the scheme remains available until 25 Feb 2025.
Detailed Insights
The pilgrimage slated for early 2025 is expected to draw millions to Prayagraj, prompting the need for a scalable safety net. PhonePe, India's most‑used digital payments gateway with more than 580 million registered users, has leveraged its platform to distribute a purpose‑built insurance cover in partnership with ICICI Lombard, a leading private‑sector non‑life insurer.
Two tiers of coverage are offered based on the mode of travel. Train or bus passengers can secure protection for merely ₹59 per person, while those boarding domestic flights pay ₹99. The policy remains active for the entire duration of the mela – from 13 January to 26 February 2025 – and can be purchased until the day before the event concludes.
Policy inclusions are designed to address the most common risks associated with mass gatherings: inpatient hospitalization up to ₹50,000, outpatient treatment up to ₹1,500, personal accident benefits up to ₹1 lakh (covering death and total permanent disability), trip‑cancellation reimbursement up to ₹5,000, repatriation of remains up to ₹10,000, and for air travelers, compensation for lost checked‑in baggage and missed connecting flights (each capped at ₹5,000).
The acquisition flow is straightforward: users open the PhonePe app, select the “Insurance” section, locate the “Maha Kumbh” product, review details, input traveler information, and complete payment. Upon successful transaction, coverage is instantly activated.
Key Concepts
- Mass‑gathering insurance: A short‑term policy that cushions participants against health, travel, and fatality risks during large public events.
- Personal accident cover: Financial compensation paid to the insured or beneficiaries in case of death or permanent total disability caused by an accident.
- Repatriation of remains: A service that covers the cost of returning the deceased's body to their home location.