The current scenario of COVID-19 has shaken the nation to its core. As more and more people are getting infected with COVID-9, in this challenging time it has become imperative to be prepared for eventualities with an insurance plan for COVID-19. Seeing the severity of the pandemic, the Max Life Insurance policy has come up with Max Term Insurance for Coronavirus known as Covid-19 Insurance plan.Read more
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As the name suggests the plan provides risk coverage to life that arises due to COVID-19. Let’s read further to know in detail about the Max term Insurance for Coronavirus.
COVID-19 insurance is a specifically designed insurance plan or rider that provides financial protection against the medical expenses that occur due to the treatment of COVID-19 diseases. The COVID-19 insurance provides coverage to the insured after the completion of 15 days waiting period from the date of policy purchase. Thus if an individual is diagnosed with the COVID-19, he/she is covered for their expenses, provided the diagnosis is received 15 days from the date of policy issuance. An individual can also purchase this policy as a rider along with a life insurance policy.
Here are the benefits of buying COVID-19 insurance.
The Covid-19 insurance provides the right financial assistance to the family against coronavirus. In case, the life assured has opted for Covid-19 rider along with the base term insurance policy, then in case of death of the life assured due to Coronavirus a sum assured amount in addition to the basic sum assured amount of the policy is paid to the beneficiary of the policy.
In case of the unfortunate demise of the life assured to the Covid-19, the term insurance policy with COVID-19 rider benefit provides the right financial assistance to the family of the insured and take care of the future liabilities.
As Covid-19 rider can be purchased along with the base term insurance policy, the life assured can avail tax benefit on the premium paid towards the policy as per the prevailing tax laws.
To purchase Max term insurance Covid-19 rider, you will need to follow these steps.
Visit the portal and click on the option of ‘calculate premium’ to start the process of buying covid-19 rider. You will need to provide basic details like your age, income, smoking habits and contact information.
As per your requirement and suitability choose the variant of the term insurance policy. f term insurance policy.
Along with the covid-19 rider option, you can also choose a different rider to enhance the coverage of the policy. The term insurance policy offer riders like premium waiver benefit, critical illness rider, etc.
Once you go through all the benefits offered by the policy and choose the relevant sum assured and rider, fill in the other required details and pay the premium of the policy online.
Currently, as the whole nation is affected by the pandemic it is a must to have an insurance policy that provides coverage against COVID-19. With COVID-19 insurance by your side, you can ensure to be financially secured against the financial load that may arise due to being affected by the COVID-19. As a rider benefit along with the term insurance policy, you can ensure to provide the right financial security to your family in case of an emergency.
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