Till now we are all aquainted with the outbreak of corona virus, it has turned out to be a outrageous pandemic and people are suffering from lockdown since 3 months. The World health organisation has shared the figures for the confirmed cases across the globe i,e 9,843,073 and the number of death globally is 495,760.( As on 28th june). Currently in India there is 528,859 confirmed cases and 16,095 deaths. These numbers are not just numbers these are the lives of people which the world has lost due to this virus. The covid-19 pandemic has become a great matter of concern for our vastly populated nation. This virus has not spread in India as widely as China, Italy and USA but it is very important to be well prepared in advance for any unfavourable situation or circumstances which may occur.
All the insurance companies has been ordered by the Insurance Regulatory and Development Authority (IRDA) to provide a coronavirus insurance for the people of our nation. Coronavirus health insurance policy has been introduced for this purpose. It has also been ordered that the policy regarding the coronavirus should be implemented before 10th July.
Coronavirus health insurance
This health insurance has been introduced to cover any medical expenses incurred on the treatment of covid-19 it has been designed to cover hospitalization expenses of the insured person irrespective of the disease that he has been diagnosed with. Since, all health insurance plans cover hospitalization expenses incurred on the treatment and as coronavirus is a viral infection a comprehensive health insurance policy has been set up which will pay off the hospitalization expenses including in-patient and out-patient expenses incurred on the treatment of covid-19. This health insurance policy will be active from the day the insured gets diagnosed with the disease because covid-19 is a new disease and therefore does not come under the category of Pre existing illness.
These are the following things which the coronavirus health insurance covers :
In-patient hospitalization expenses, pre hospitalization expenses, critical illness hospitalization, accidental hospitalization and day care procedures.
Road ambulance expenses, ICU, room rent, organ donor expenses, daily hospital care, home hospitalization, post- hospitalization expenses, alternate treatment and recovery benefit.
Add on covers
Maternity benefit with newborn baby cover.
Things which are not covered by this insurance:
- Home Quarantine; if the person stays in home Quarantine this policy will not cover any expense.
- If the deceased is quarantined in a non recognised Quarantine centre then the medical expenses will not be covered.
- If the deceased is suffering from any pre existing disease this insurance will not cover the expenses.
- This policy will also not include prenatal and postnatal expenses.
- If the deceased gets hospitalized without any permission of a qualified doctor the expenses arising will not be covered.
Modes to claim this health insurance
The first one is cashless claims as we all know that many policies provide cashless treatment facility in this facility the sum which is insured is directly settled with the hospitals of the insurar.
To take the benefit of the cashless claim don’t forget to check if your health insurance for coronavirus office cashless claim facility.
The second mode you can use is reimbursement claims. this mode is only available for policyholders who get hospitalized and receive treatment at a non network hospital initially you will be required to pay all the hospital bills in full at the time of your discharge but later you can file a reimbursement claim with your insurance provider after that the insurance company will verify your claim and post the reimbursement amount to transfer into your bank.
Things to keep in mind while applying for the coronavirus health insurance policy.
First of all you need to know that coronavirus lead to severe respiratory illness and creates impact all over the body so this kind of treatment can get very expensive specially for people with underlying disease therefore it is advisable to opt for a higher sum insured amount for your coronavirus health plan.
Make sure to go through carefully all the coverage period stated in the policy most policies offer coverage for hospitalization expenses, post-hospitalization care, ICU charges, OPD charges, ambulance charges etc.
Also don’t forget to check the waiting period as stated in the policy. Almost all health insurance plans come with a waiting period of the first 30 days however some insurance provider such as Star health insurance is offering 16 days waiting period only under their coronavirus health insurance. Policy during this period none of the claims filed by you will be covered by under the policy does make sure to check the initial waiting period that is coronavirus insurance comes with before buying.
At last I want to say that by introduction of this policy it has been a great help fore people to cover the expense in the near future, hoping that all of you will be safe and take proper care of yourselves and will take corrective measures to prevent the spread of coronavirus any further.