Diwali is a festival of lights. Unfortunately, it is also a time to battle against injuries. Firecracker-related injuries are not only common during this pan-India festival but are also on the rise. A cursory online search will reveal that even in the limited scope of a study between 2002 and 2010 just in Safdarjung Hospital in New Delhi, as many as 1,373 patients attended the emergency burn care unit just on 3 days – pre-Diwali, Diwali and post-Diwali. It gives an idea of what the number of victims can be now all over the country.
With such accidents rising, PhonePe has introduced an insurance plan for a mere Rs 9 to offer financial protection against firecracker-related accidents during Diwali this year. This amount also includes the GST. This year Diwali will be celebrated on October 31.
Single premium and coverage
In lieu of this single premium of Rs 9 the protection will be of a maximum amount of Rs 25,000. The coverage will be offered for a window of 10 days beginning on October 25, 2024. It will pay for the expenditure if one has to be admitted to a hospital following such accident. In the unfortunate event of death too arising out of firecrackers, payment will be made by PhonePe.
Shield for 4 persons
Another significant point is that the coverage will be offered to a maximum of 4 members of the family on a single policy purchase. It will protect the policyholder, his/her spouse and 2 kids. The company has also said that if the policy is purchased after October 25, the coverage will commence on the day of purchase.
Available online
The coverage can be purchased online through a few simple clicks. The premium is fixed at Rs 9. You can pay online and buy the protection.
According to reports the firecracker insurance is part of a Group Personal Accident policy underwritten by Bajaj Allianz General Insurance Co. However, one should read the terms and conditions before buying it.
Though there are restrictions by different state and central authorities on the manufacturing, storage, and sale of firecrackers, people tend to get their hands on even banned items. Careless or improper handling of firecrackers can, and often do, deliver physical injuries to those using them and even those standing near them. And this is applicable even for “innocent” and legal items.
Sustaining injuries from firecrackers in common during Diwali and this innovative scheme can make sense for many. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
