Should You Buy a COVID-19 Specific Health Insurance Plan

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Coronavirus Specific Health Insurance Plan

The novel coronavirus disease (COVID-19) has affected millions of people across the globe, bringing the world to a standstill. The pandemic declared coronavirus is so infectious that several nations continue to be in a state of lockdown as the coronavirus positive cases rise at an alarming rate.
With nearly 3.28 lakh deaths and over 5 million positive cases reported so far, the number of coronavirus cases is increasing at a staggering rate worldwide.
While there is no vaccine available for the deadly virus, people are focusing on ways to keep themselves and their loved ones safe during the outbreak. The World Health Organisation encourages people to follow necessary precautions like practicing social distancing, wearing a mask when in public places or when taking care of an infected person, practicing self-hygiene, eating healthy food to boost immunity among other things.
But, considering the uncertainty and possible health risks in the current times, there is one more thing that definitely requires your attention and that is a Health Insurance plan which insures you against COVID-19.
As people are confined to their homes during the lockdown, the virus has impacted business operations and thereby affecting the world economy. So, in times when financial problems are likely to occur, it’s wise to buy a health insurance plan which offers insurance coverage for the deadly disease.

Eligible Criteria For Coronavirus Health Insurance Plan?

You can buy a health insurance plan for coronavirus if you are an Indian resident. Also, you must be fit and fine at the time of purchasing the policy. Other eligibility criteria applicable to buy coronavirus health insurance plans include travel history, age, or individual or floater basis. These factors are specific to each insurer. For instance, a coronavirus health insurance policy named Health Care Plus Policy offered by Digit Health Insurance can be purchased by anyone up to the age of 75 years.

What Is The Coverage Under Coronavirus Health Insurance Plans?

Coronavirus health insurance allows you the benefit of both cashless and reimbursement facilities. The insured can avail of the cashless facility only at the impaneled network hospitals.

13 covers under a coronavirus health insurance policy:

    1. In-patient hospitalization expenses
    2. Pre-hospitalization expenses
    3. Post-hospitalization expenses
    4. Critical illness hospitalization
    5. Maternity benefit with newborn baby cover
    6. Daycare procedures
    7. Hospitalization due to an accident
    8. Alternate treatment

Road ambulance expenses

  • ICU room rent
  • Daily hospitalization cash
  • Organ donor expenses
  • Recovery benefit

The good news is that coronavirus does not come under the category of pre-existing diseases. So, all health insurance plans offering cover for expenses related to coronavirus cover the insured from day 1 in case he/she gets diagnosed with the disease.

Best Health Insurance Plans for Coronavirus 

Spurred by the Insurance Regulatory and Development Authority of India (IRDAI) to come up with coronavirus-specific products, several insurance companies have come up with coronavirus plans in the market in the past few months.

The popular insurance providers of coronavirus health insurance plans include ICICI Lombard, Bharti AXA Health Insurance, Universal Sompo, Religare, Reliance General, Star Health & Allied Insurance, and Digit Health Insurance. Some offer fixed benefit cover by offering a lump sum amount on diagnosis of coronavirus, whereas others offer an indemnity based plan, which covers the policyholder against hospitalization expenses up to the total sum insured chosen.

Some notable plans offered by these insurers that cover COVID-19 include Religare Care Freedom, Star Comprehensive, Digit Health Plus Policy, Universal Sompo Complete Healthcare Insurance, all of which can be purchased from InsuranceDekho, one of the leading online portals for all insurance needs.
Talking of coronavirus health insurance plans, another popular product that you should be informed of is Arogya Sanjeevani Policy. It is a recently launched standard health insurance plan that covers basic healthcare expenses in case of hospitalization.
You can cover self, legally-wedded spouse, dependent children, parents, and parents-in-law for sum insured options ranging between Rs. 1 Lakh to Rs. 5 Lakh (in multiples of 50,000). The policy offers several benefits to the insured such as cover for 30 days pre-hospitalization and 60 days post-hospitalization expenses, all daycare procedures, cataract surgery up to a specific limit, in-patient hospitalization cover, and AYUSH treatments.

Can I Buy Coronavirus Health Insurance Plans Online?

Yes, you can buy a coronavirus health insurance plan online. For this, you can visit InsuranceDekho.com, fill the required details, compare the most suitable plan for yourself and your family, and get the policy instantly. The portal helps you compare insurance plans as per your requirements and budget and issues policy in just 5 minutes.

Also Read : Health Insurance Companies in India : How to Plan for Medical Expenses

Summary
It is true that your existing health insurance plan covers hospitalization expenses related to the novel coronavirus. But if you are still not covered under any health insurance plan, and are running low on funds, then NOW is the time to buy one!

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