The recent pandemic is nothing new. It has happened before; throughout history, humankind has suffered from bouts of life-threatening disease and plagues. The good news is that every single disease/illness has been carefully subjugated, but often at the cost of human lives and time. So from 2020 onwards, we need to be more patient than ever.
As of 16th Oct 2020, India has over 7,372,394 active Coronavirus cases, with 112,214 deaths reported so far. Plus, there are new cases that are rising daily. This is indeed an alarming situation. The vaccine for the virus is still far away. There is no exact time and day given for its delivery. But in a country like India, where the population is 1.3 billion, the vaccine's distribution will also be a cumbersome and time-consuming task. You might not be the first person to receive it! You might be the last. You may never know.
India has officially become the third most worst affected country in the world. The sudden drop in economic activity and movement has made more than 25 crore Indians' lives difficult. There is not only a financial strain but also the concern of health and wellbeing. In such a drastic situation, the last thing you want to suffer from is COVID-19.
This is why you should be well prepared in advance. First, ask your existing health insurance provider if they provide cover for coronavirus related hospitalization under your current plan. If yes, go through the details thoroughly concerning what is covered/not covered? If not, you must buy a new health insurance plan with Corona cover, especially if you are a family person. In the case of group insurance, ask your employer immediately about coronavirus and quarantine related expenses cover.
A Coronavirus COVID-19 Cover is a type of health insurance policy that provides cover in the form of financial aid for managing the expenses arising out of hospitalization and medical costs of Covid19. This type of health insurance will provide cover for pre/post-hospitalization, in-patient hospitalization, and cover for standard hospitalization.
What is covered?
In-Patient Hospitalization Including Pre and Post
Critical Illness and Accidental Hospitalization, if opted
Day Care Procedures
Cumulative Bonus and NCB
Road Ambulance Charges
ICU/Room Rent Limit
Daily Hospital Cash
Domiciliary Hospitalization
AYUSH Benefit
Cashless Treatment
Add-on Cover
No Age-Based Co-Payment
Consumable Expenses
Recovery Benefit
What is not covered?
Maternity and Newborn Baby Expenses
Pre and Postnatal expenses
Pre-existing diseases
Self-quarantine expenses at home
Any form of treatment or hospitalization without the medical practitioners advise
Due to the increasing number of cases, the IRDAI and Indian Government have taken the initiative and asked insurers to launch customized COVID-19 cover health insurance policies in India. They have also directed all current public and private general insurers to include COVID-19 cover for the existing policyholders.
Here are the details of the two COVID-19 cover health insurance plans in India:
Corona Kavach
This is a standard health insurance plan.
| Cover Amount | Up to Rs. 5 lakhs |
| Tenure | 3.5 months/6.5 months/9.5 months |
| Home Care Treatment | Up to Sum Insured |
| Eligibility | |
| Pre Existing Diseases | Covers comorbidities arising from COVID-19 |
| Family Floater Option Applicable | Up to 2 Adults & 4 Children |
| Sum Insured Option | Rs. 50,000 to Rs. 5 lakhs |
| Hospital Daily Cash | 0.5% of Sum Insured per day subject to maximum of 15 days in a policy period for every insured member |
| Home Care Treatment | Maximum up to 14 days per incident |
| Premium Amount | Rs. 1,039* |
| Claim Mode | Cashless and Reimbursement Facility Option |
Corona Rakshak
This is a lump sum payout plan in case the policyholder contracts COVID-19.
| Cover Amount | |
| Tenure | 3 ½ months, 6 ½ months, and 9 ½ months |
| Home Care Treatment | NIL, compensates only for the loss of income |
| Discount | |
| Family Floater Option Applicable | Individual Coverage Only |
| Sum Insured Option | Rs. 50,000 to Rs. 2.5 lakhs |
| Premium Amount | 50000 to 2,50,000 |
The information mentioned may varies from insurer to insurer as the government has allowed them to customize the plans accordingly.
Here are the top five reason to buy a COVID-19 Cover Health Insurance Plan today in India for 2020:
There is a lot of uncertainty around the COVID-19 pandemic and the delivery of the vaccine. To be safe within the two mentioned above times, it is better to purchase a corona cover healthcare plan for yourself and your entire family.
Many people are unemployed right now. If you are one of them, try getting a corona plan as soon as possible. It will only benefit you and your family. The high cost of medical treatment and hospitalization will further add to your financial debts in case of a COVID-19 outbreak in your family.
You can avail of tax benefits. Premiums paid towards health insurance plans are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.
In addition to COVID-19, your comprehensive health insurance policy will protect you from other diseases and critical illness throughout the policy tenure. You will receive 360-degree full-fledged protection.
When you know that you and your family are well protected in turbulent times, you will be stress-free. Your health insurance plan will always have your back in the worst and the best of times.
In Simple Words,
If you are looking to buy a COVID-19 Cover Health Insurance Policies in India in 2022, look no further. Get complete details online on the key features and benefits of Corona Kavach and Rakshak at Coverfox. Get the ultimate online health insurance buying experience today!
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