Indian digital payment firm Paytm has launched a Covid-19 insurance plan in partnership with Reliance General Insurance.

The plan, which offers a maximum cover of INR200,000 ($2,621) will cover overs loss of pay, quarantine expenses, and treatment costs.

“With our COVID-19 Benefit Insurance Policy, we aim to provide simple health insurance coverage that will take care of most expenses that a Coronavirus patient might have to incur. The digital policy can be purchased at Paytm app and is generated online within a few minutes from the safe confines of one’s home,” Paytm president Amit Nayyar has been quoted as saying by Business Insider.

The policy is said to cover the persons between the age group of 3 to 60 years old. It has a validity period of one year.

The claim waiting period for the policy is 15 days.

Last year, Paytm collaborated with Aegon Life Insurance to offer comprehensive life insurance solutions in India through its digital payment platform.

Meanwhile, many insurers have rolled out policy covers for Covid-19 following pandemic outbreak in the country.

Earlier in March, ICICI Lombard launched a dedicated Covid-19 group insurance cover. The policy offers 100% of the entire sum insured on the policyholder’s first Covid-19 diagnosis during the policy period.

The company also launched Covid-19 Protection Insurance Cover for shopkeepers in partnership with BharathPe.

Airtel Payments Bank and Bharati AXA General Insurance also introduced a coronavirus (Covid-19) insurance policy. The policy is a fixed cover offering 100% sum insured as a lump sum, if the policyholder is tested positive or gets quarantined in a government hospital or military establishment.