Quick intro - I lead the debit card business at Jupiter and we are currently racking your brains to figure how to pack more goodness into the card!
One of the things we are considering is: INSURANCE! Yes most cards in the market come with some kind of insurance but we want to make sure that we add something that is actually useful to the user.
Now, if I were to ask folks which insurance they would like - the most common answer would be health insurance or mobile insurance! But honestly, these are QUITE expensive to be given as a free add-on To give you an idea, a decent health cover can cost more than 10-15k annually, depending on your age and type of coverage.
But we still want to give you something that is actually beneficial to you and adds value to your financial and personal life!
So how about hospitalization coverage against accidents?
If you ever have any kind of accident and need hospitalisation due to that, your cost of medical treatment would be covered upto the sum insured. So you can have the peace of mind to not worry about sudden expenses and cash crunch in an emergency!
The only caveat for availing this insurance is that you should have used your debit card at least once in the last 30 days. That’s all!
Do hit one of the options below to let us know if you’d like this feature on your card and drop any other ideas/ thoughts in comments!
Accidental Hospitalization Cover sounds useful to me
I don’t need an Accidental Hospitalization Cover
Could we work something different? Say “extended warranty” for all electronics purchased with Jupiter debit/upi?
Suppose I get an iPhone worth 50k from Amazon via my Jupiter, it’d be cool to have a factory warranty + 1 extended year warranty. Throw in a easy dispute process for refunds and I’m game!
That’s a pretty cool idea.
Although any kind of gadget insurance/ extended warranty is pretty expensive to give as a freebie For context, for a 50k phone, the extended warrantry would be around 3-4k.
But let us explore if we can crack a partnership to make this work for you!
I think Jupiter can just increase the jewels point on every purchase and increase the limit of â‚ą250 to at least â‚ą1000/month â‚ą500 on card And â‚ą500 on UPI or it can depend upon you. This can be more usefull for me because I have already a health insurance of â‚ą10Lakhs
It seems to be a good lucrative idea to attract users. Yes, I guess that accidental hospitalization cover will be the best because in few cases it flips the financial condition of a particular person.
@Tanvi_Agrawal , i second Dhruv here. While OPD expenses may be a part of a few policies, the limit in terms of the amount that can be claimed is usually low. Hence, offering a higher OPD coverage seems beneficial and could be (an assumption) less expensive as freebie.
Thanks Yagnesh for your point. We will look into it and see what’s the best we can do.
Meanwhile, While I understand that OPD is your first preference, what’s your view on the accident cover? is this something that you’d value as a Jupiter user?
As a side note, OPD covers are usually the most expensive as insurance works on probability %. High the probability of claims, higher the coverage. Hence OPD expenses being highly probably every year for almost everyone, that’s why its insurance is costly for the insurance companies
This sounds link a nice add-on benefit for jupiter card holders, As far as I remember some Rupay card provide something like this too but 30 days seem like a short period as I use upi more than Card, maybe extend it to 45 days ??
Also using debit card atleast once includes offline , pos and atm transactions or is there some exceptions. Do clarify that !
Thank you Navharsh. Any non-ATM transaction should suffice to be eligible for the benefit. The final T&Cs would be announced at the time of feature launch, of course!
To give you an idea, a decent health cover can cost more than 10-15k annually, depending on your age and type of coverage.
