Arrangement with “Reliance General Insurance Company Limited” for providing COVID-19 Insurance coverage to RuPay Cardholders

Recently, owing to the outbreak of Coronavirus (COVID-19), there has been widespread distress due to economic adversities on a global level. The need of the hour is an Insurance coverage to cover for COVID-19.

Keeping in view the above, NPCI has partnered with Reliance General Insurance Company Limited for providing a benefit of COVID Insurance coverage to our Rupay Cardholders.

The card holder may choose the coverage amount ranging from INR 25,000 to INR 2, 00,000 and a one-time premium has to be paid by the customer accordingly. The premium structure is mentioned as under:

The above mentioned premium rates are applicable only if the Policy is purchased on or before 30-05-2020. In case of any change in premium amount post 30-05-2020, customers will be notified accordingly.

The gist of the Terms and Conditions is as under:

o If diagnosed positive with COVID-19 infection, the Reliance COVID-19 Protection Insurance:

· Covers individuals aged between 3 months to 60 years
· Policy period - 1 year
· 100% of the sum insured will be paid irrespective of actual expenses
· Even if the treatment is done without cost, by the government

o What is not covered?

· Individuals with existing COVID-19 disease or under quarantine
· Testing is done in centers not authorized by the government of India
· Any pre-existing conditions whether declared or not declared
· Individuals that have traveled internationally any time within 45 days prior to the application.

The details are provided in the below mentioned appendices:

Ø Annexure - Covid-19 Insurance

Ø Reliance COVID-19 Protection Insurance - Policy Wordings

Customer may visit the official website of Rupay and purchase the insurance coverage by making the premium payment using their RuPay cards for the coverage which they wish to avail.