New Delhi, Oct. 23 -- Fintech payments platform PhonePe has announced its comprehensive firecracker insurance for the third consecutive year, offering medical coverage of up to Rs.25,000 for "fixed, pocket-friendly premiums", the company said in a release.

The Walmart-owned platform said that its firecracker insurance, available digitally on PhonePe and underwritten by Aditya Birla Health Insurance (ABHI), protects customers against firecracker-induced mishaps during the Diwali festive season.

A seasonal micro-insurance product, it aims to provide enhanced assurance and protection to buyers so they can enjoy their Diwali festivities knowing they have financial support in the event of an unanticipated incident.

The policy offers protect...