Corona-virus is a big disease in this modern era and a big enemy for the human being. There are many deadly outbreaks in the past such as Zika, Ebola, Mers, Nipah, etc.
But the Novel Corona Virus has brought worldwide to a standstill with every human being and economy as well including India under lockdown. With each passing day worldwide, more and more people are testing positive for COVID-19.
There are more than 170,190 people have died from Corona-virus outbreak and confirmed infected cases have reached 2,478,100 worldwide including 17,650 infected and 562 death cases in India.
Due to increasing panic among the people and the spread of COVID-19 rapidly. As per the directions of the Insurance Regulatory and Development Authority of India (IRDAI), all insurance companies have started covering treatment for COVID-19 under the regular health insurance policy.
It helps everyone to deal with medical emergencies or helps to cover health financial risk arises due to COVID-19 and enjoy a worry-free life.
The IRDA has also made a standard health insurance plan known as the Arogya Sanjeevani Plan which covers the risk of COVID-19.
What is cover and not cover under the policy to cover the COVID-19 illness?
The Corona-virus testing and hospitalization charges are quite high so the insurance companies will cover all those expenses in this policy.
But you will have to fulfill the waiting period of the policy otherwise, not a single penny will be given by the company to you.
The insured person can avail benefits of the insurance available for Corona-virus for a limited period of 1 year only which cannot be renewed or used for the treatment of any other illness.
In also addition, these policies are only for Indian Citizens including age, the sum insured, an individual or specific group to each policy some other eligibility criteria.
Following are some of the major benefits:
- In Patients Hospitalization Expenses Pre-Hospitalization Expenses
- Accidental Hospitalization expenses
- Critical Illness Hospitalization Expenses
- Daycare Procedure
- ICU Room Rent
- Road Ambulance Expenses
- Home Hospitalization Expenses
- Post Hospitalization Expenses
- Alternate Treatment
- Recovery Benefits
- Maternity Benefits with New Born Baby
Following are some clauses which are not Covered under Corona-virus Insurance:
- Home Quarantine
- Pre-Exiting Decease
- Pre Natal and Post Natal Expenses
- Non-Recognized Quarantine Center
- Hospitalization Without Doctor’s Recommendations
Following are some insurance plans cover by the companies:
- ICICI Lombard – COVID-19 Protection Cover
- Future General Insurance – Group Insurance Cover/Mediclaim Policy
- Religare Health Insurance – Corona Virus Health Insurance Plan
- Star Health Insurance – Star Novel Corona Virus.
Premiums and Sum Insured of the Policies:
The premium of the Policies is very nominal which can be afforded by anyone. The premium of the policies in between ₹ 200 to ₹2500 with minimum ₹ 20,000 and maximum ₹ 2 lakh sum insured. The insured person will have to pay the tenure of 1 year.
Claims of the Policy
Insured person can claim the policies in two ways by cashless and reimbursement of claims.
When treatment under the network hospitals then the insured person can avail cashless benefits and when treatment under non-network hospital then the insured person can avail reimbursement benefits.
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