Coronavirus: Here's a Health Insurance policy to help you fight COVID-19 (Representative image)
In India total 148 cases of Covid19 have been confirmed so far, which no doubt has created a panic among people living here. In the National Capital, the Government announced 24*7 helpline number and email id ncov2019@gmail.com for people to take help if they feel someone around them is having the symptoms or with themselves related to the COVID19. Still, people are worried about the life as well as the cost that they may have to pay if detected with this pandemic deadly virus. We suggest you not to panic during such situations. With some precautions you can get rid of this deadly virus smartly. Also, there are many insurance companies in India which have started providing the insurance claim for coronavirus to their insurers, since it will come under any viral infection/critical illness.
According to Subramanyam Brahmajosyula Head - Underwriting & Reinsurance, SBI General Insurance Company Limited, "The current coronavirus is an unfortunate situation and now declared as global pandemic by WHO. The expenses against the treatment for the medical emergency and hospitalization occurring due to Coronavirus, will continue to be covered under SBI General's health insurance”.
But for new insurers there are some insurance companies like DIGIT are providing the insurance for COVID 19 and have tied up with many other corporates to provide the Coronavirus insurance cover.
Existing insurers are worried as how, where, when one can claim the insurance for such fatal disease COVID19 and people who don’t have any health insurance policy will have to buy a new one or they must wait for the two-year period? As the number of cases have increased, numerous queries mounting in the mind of common man these days. We are here to make you understand about the facts of coronavirus insurance cover and claim. Also, if you don’t have any cover then why this is the time to opt for the insurance plan. Read out facts as how to combat the fatal COVID 19 with the help of health insurance plans.
Few Key points to know:
- If you already have a health insurance then COVID 19 will come under any critical illness disease like cancer, dengue, heart, liver problem etc. But if you don’t have any health insurance then you must go for one. Still there will be waiting period time of 2 years as per the rules
- Before buying any health insurance policy one should read the terms and conditions along with the waiting period time for critical illness. Without the need don’t just buy for the heck of your insurance agent.
- It is also useless to buy the health insurance policy after getting infected to COVID 19
- For some insurance companies COVID19 comes under epidemic/pandemic as declared by the World Health Organisation (WHO). So, one cannot get the settlement under the claim
- If any of your family member recently travelled to any affected foreign countries then, you cannot claim the insurance for settlement
- Anyone who is planning to take the claim amount from their health insurance company first have to submit all the proofs and
Above are the rules for existing health insurance companies and their plans but few new companies like DIGIT has given a big relief to people suffering from CORONA…Let’s read out the low down and know about the DIGIT policy tied up with Bookmyforex.com
DIGIT insurance provides:
- 100% Lumpsum for Ongoing Treatment* If your test for Coronavirus Disease (COVID-2019) is found positive, they will pay 100% of your Sum Insured as Lump Sum
- 50% Lumpsum for Quarantine Cases: If you are advised to be quarantined in a Government or Military hospital, co will pay 50% of your Sum Insured as Lumpsum even if the test for Coronavirus Disease (COVID-2019) is later -ve
According to Sudarshan Motwani, Founder and CEO, BookMyForex.com, “With the coronavirus impacting several countries, more and more people are concerned about getting insured against the disease. While not many insurance companies so far have a dedicated policy on coronavirus, we are able to offer an insurance policy that entitles the policyholder, a lump sum payment for both positive and quarantined cases as well as those quarantined and later found negative. The premium starts from as low as Rs. 299 and has a super easy claim process.”
Who Can Avail?
- Individuals below 75 years of age
- Individuals who have not travelled to the following places since 31st December 2019: China, Japan, Singapore, South Korea,Thailand, Malaysia, Hong Kong, Macau, Taiwan, Italy
- Individuals who have not suffering from any respiratory related symptoms like severe cough, respiratory Diseases, breathlessness from last 4 weeks
Sum Insured and Premium:
- Sum Insured Options:
- Minimum SI: INR 25K
- Maximum SI: INR 2 Lakh
- SI available in multiples of INR 25K
Premium:
- Premium charged will be INR 299 (Including GST) per Sum Insured of 25K
Terms and conditions:
- Policy Period 1 Year
- Initial Waiting Period 15 days
- Survival Period 0 days
- Pre-Existing Disease is not covered
Claims:
One can call the insurance company directly on their customer care number Immediately after you have been advised to take the test for Coronavirus Disease (COVID-2019)
Documents Required:
- On getting quarantined Certificate from a Government Medical Officer to start treatment for Coronavirus Disease (COVID-19)
- On getting tested positive A positive virology report from ICMR- National Institute of Virology, Pune India
Remember, CORONAVIRUS is like any other critical illness/viral infection. So before asking your health insurance company about the claims do see the rules and waiting period. Last but not the least, be safe and follow the precautions carefully. Stay fit and healthy!
