All you need to know about Corona virus Health Insurance Covers

   COVID-19 or more commonly known as the Novel Coronavirus has brought the entire world to a standstill. With the cases of Coronavirus infections increasing at an alarming rate, several nations continue to be in a state of lockdown even more days. As of now reaching 13 million confirmed cases and 5, 78,000 deaths have been recorded due to this unprecedented pandemic across the world. We as a nation have also been severely impacted due to the Corona virus outbreak,with

3,04,576 active cases and 23,440 deaths as of June 13, 2020. In these trying times, the Indian Government has taken and is actively taking necessary measures to ensure that continuous medical care is available to the Indian citizens and the spread of COVID-19 is contained.

Considering the gravity of the situation, the Insurance Regulatory and Development Authority of India (IRDAI) had also issued an advisory to insurance companies to expedite the processing of claims made in relation to COVID-19 pandemic. In light of this directive, all existing health insurance policies would extend their coverage to include Coronavirus without having any specific exclusion. That means if you already have a health insurance policy in place, you will be covered for claims related to Coronavirus disease.

All claims related to Corona virus will be managed as per the below-mentioned norms:

·       The policy will cover you for the hospitalization costs related to Coronavirus disease;

·         The policy will also cover the medical expenses incurred during the treatment of the disease; 

·   Additionally, all medical expenses occurred during the quarantine period will be reimbursed by the insurance provider.

All guidelines relating to Coronavirus are effective April 30, 2020 and have been released through a circular “Guidelines on handling of claims reported under Corona Virus, Ref. No: IRDAI/HLT/REG/CIR/054/03/2020”. The guidelines are dictated by Section 14(2)(e) of the IRDAI Act, 1999.

What should you do?

With the Corona virus pandemic creating an alarming situation, a Coronavirus health insurance policy can keep you financially secured. While the Coronavirus health insurance policy may be a good option for the time being, it might leave you vulnerable after a year. Moreover, you would remain without a cover for all other ailments and treatments.

Hence, an ideal solution would be to consider having a regular health insurance plan. This will ensure that you are adequately covered for various forms of diseases and the required treatments, including COVID-19. 

Whether you choose a COVID-19 specific policy, or a broader health insurance plan, or even if you already have a health insurance policy, make sure to inform your insurance provider at the earliest in case you happen to be diagnosed with Corona virus disease or related symptoms. All the cases related to Corona virus will be expedited and addressed with care by the insurance providers.

In effect, this is a good time to take stock of your healthcare needs and make sure that you are adequately prepared. A comprehensive health insurance policy is your best shield against healthcare uncertainties and the rising medical inflation.

For more information and advice 

Please contact

8978944541 

insuresafetech@gmail.com