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A coronavirus health insurance plan can be purchased as an add-on or supplementary to your regular health insurance scheme. However, it should not be mistaken to be a substitute of your regular health insurance policy.
Amid the coronavirus outbreak, health insurance companies in India have launched Coronavirus specific health insurance plans. The way COVID-19 has been permeating it seems more essential to get COVID-19 health insurance cover.
Some of the popular health insurers offering Coronavirus specific health plans are Religare health insurance, Star health insurance, Digit health insurance etc. But these plans are designed to cover COVID-19 patients only. On the other hand, your basic medical insurance policy is designed to cover all the medical treatments requiring hospitalization including COVID-19.
Both the health insurance schemes serve different purposes and are designed to cater to a different set of customers. Here we will discuss what should you be doing to ensure appropriate health insurance cover during these trying times amid the coronavirus pandemic.
A coronavirus health insurance plan is an indemnity plan that is designed to cover coronavirus related expenses including hospitalization, quarantine expenses in a registered centre up to the sum insured limit. It does not cover other hospitalization expenses. The coverage amount is limited to cover the coronavirus treatment cost only.
Coronavirus health plans cover the following expenses:
The purpose of specifically designed health plans is to offer a quick solution to people with no health coverage who are seeking protection against Coronavirus.
Due to the increasing cost of hospitalization and medical treatment it is recommended to have at least a health cover of minimum Rs 10 lakh. There are health plans offering sum insured up to Rs 1 Crore. It is essential to have appropriate health cover to avail the best possible treatment without financial worries. Following are the benefits that an insured person can avail with a regular health plan:
In addition to the above benefits, you can also file a claim for Coronavirus treatment as per your policy wordings. All the health insurance companies are providing COVID-19 cover as per the IRDAI recommendations and you do not need to buy a standalone policy. However, it is sensible to check with your health insurance provider for the same, and if your current health plan does not cover it, then you can buy a supplementary coronavirus health plan.
While a COVID 19 health insurance policy is recommended as a bonus to your basic medical insurance. You cannot replace it with your regular medical insurance policy if you want to save yourself and your loved ones from any financial crunch during medical emergencies.
Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.