Prices Increasing soon Prices Increasing Soon

Term Insurance Policies During COVID-19 Pandemic

The ongoing pandemic has impacted millions of people around the world and disturbed everyone’s lives everywhere. The contagious respiratory disease has become one of the biggest health concerns for the Government. India has started its largest COVID vaccination drive in the world and has vaccinated 41 crore Indians till now with one vaccination dose and approximately ten crores with both vaccination doses.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:-

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Individuals who tested positive for COVID-19 not only require medical care but also financial and emotional support from their families. Have you ever imagined; how will your family manage all the expenses if you are not there with them? Having a term insurance plan in these tough times of COVID outbreak is a must. These plans provide a backup and help the family of assured to cope with the financial consequences in case of the unfortunate death of the policyholder due to COVID-19. 

COVID Term Insurance Policy 

COVID term Insurance policy is a traditional plan that offers additional financial protection and stability against death due to COVID. Usually, term insurance plans provide death benefits due to the diseases/illnesses if the life assured has been diagnosed with critical illnesses such as cancer, heart diseases, and stroke. As the cases related to COVID are increasing day by day, various insurers are now providing term insurance covers against death due to COVID as well. 

List of Best COVID Term Insurance Policies 

What can offer you and your family better financial security than a term insurance plan during these critical times of COVID? By paying a premium amount of Rs. 500, you can easily get a life coverage of Rs. 1 Crore. Term plans offer you high coverage at low premium rates. With the availability of several term plans, selecting the right one is a difficult task. Here is a list of the best COVID insurance policy that might provide you protection against COVID. Let’s discuss some of the top term policies that protect you financially in COVID times: 

  1. EDLI - Employees Deposit Linked Insurance Scheme  

    EDLI is a kind of insurance scheme offered by EPFO i.e., Employee Provident Fund Organization. This cover provides financial support and protection to the organization’s employees in their tough times. In case of the unforeseen death of the active member of EPFO, the legal heir or nominee will receive a lump sum amount up to Rs. Seven lakhs for managing their future finances. 

  2. PMJJBY - Pradhan Mantri Jeevan Jyoti Bima Yojana 

    This scheme was introduced by the Indian Central Government to protect the weaker sections of the community. The policy provides premiums at lower and pocket-friendly rates i.e., about Rs. 330 premiums for a year. This policy is offered to individuals between 18 years to 50 years having their bank accounts. PMJJBY offers a unique and number of benefits to its customers such as death and maturity benefits, coverage of risks, and tax benefits. A policyholder can only make claims after 1.5 months of registering into the policy. If in case the death happens within the 1.5 months of registering the policy, then the nominee/legal heir will never be able to claim. 

  3. Saral Jeevan Bima Yojana Term Plan 

    This policy is specifically designed for individuals having a relatively lower educational family background and having weaker socio-economic status. It is a non-linked and non-participating insurance plan that pays a lump sum amount (death benefit) to the nominee if the life assured dies during the policy term. The policy offers Rs. 5 lakhs as a minimum sum assured and Rs. 25 lakhs maximum sum assured. 

    Along with all the term insurance plans discussed, insurance buyers should be aware that term plans are of different types. The selection of the right term insurance policy solely depends on the policyholder’s needs and financial objectives. 

  4. Regular Term Plan 

    A policyholder can also opt for regular term insurance plans in which the term of paying premiums equivalent to the policy tenure. These types of plans offer monthly, semi-annual, or annual modes of paying premiums. In a single term insurance plan, there is an option to pay premiums as a lump sum for the complete policy term whereas in the case of a limited premium term, the premium amount is paid for a limited time and the coverage is for a long term. The premiums amounts are comparatively higher in the case of Saral-Jeevan Yojana as compared to the regular term plan. 

Coverages Under COVID Term Insurance Policies 

As the number of COVID cases is rising, the IRDAI and the Indian Government has decided to take the initiative to introduce customized COVID plans. If you have already a term insurance plan, make sure to ask your insurer about the COVID cover and how will it work with the term plan to provide financial protection against COVID-19. There are various best term insurance policies in COVID that provide you security but the selection of the right plan depends on your needs and liabilities. Let’s discuss the coverage provided by the top term policies: 

  1. Death Benefit 

    COVID term insurance policy offers financial protection in case of an untimely demise of the policyholder during policy tenure due to CIVID. The nominee/legal heir will receive the sum assured amount in such cases. 

  2. Coverage for Diagnosis and Hospitalization 

    If you want to be prepared before COVID strikes you, buy a term plan. Various insurers offer term rider options that provide 20 percent of the SA (sum assured) as a lump sum amount to provide financial stability against the medical expenses related to COVID-19. It is always advisable to check the term insurance plan with COVID before purchasing any policy. 

Wrapping It Up!

COVID is a serious health concern these days that require financial protection of you and your family. If you are looking out for COVID protection apart from social distancing and sanitization, then a COVID Term insurance policy is one of the safest solutions. The deaths due to COVID are protected under the term plan subjected to the policy’s terms and conditions. This simply means that if you have already a term insurance plan or you will purchase a new one, then the COVID deaths are covered under the policy in both cases. We have discussed some of the best term policies in COVID that you can purchase to financially protect your family after you.

Different types of Plans

Premium By Age

Term insurance articles

Recent Articles
Popular Articles
Long Term Disability Insurance for Income Replacement

08 Dec 2023

Long-term disability insurance for income replacement is a
Read more
Term Insurance for Below Poverty Line (BPL)

07 Dec 2023

In the world of making sure everyone can get important services
Read more
Income Replacement Insurance For Self Employed

07 Dec 2023

Income Replacement Insurance for self-employed is the term
Read more
Edelweiss Tokio Income Replacement Insurance Plan

07 Dec 2023

Edelweiss Tokio Income Replacement Insurance Plan is a
Read more
Income Replacement Insurance for HNIs (High Net-worth Individuals)

07 Dec 2023

An income replacement plan designed for High Net Worth
Read more
Best Term Insurance Companies in India 2023
Buying term insurance is a great way to protect your loved ones financially in the unfortunate event of your
Read more
What Are The Medical Tests Done For Term Insurance
Term insurance offers a sum assured to the beneficiary of the policyholder upon their death that can help them
Read more
LIC Term Insurance 1 Crore
LIC of India offers various plans to help you secure the financial future of your loved ones. In order to make
Read more
Term Insurance for Women in India
Term insurance for women is a type of life insurance specifically designed for fulfilling women’s needs and
Read more
What Kind Of Deaths Are Not Covered In A Term Insurance Plan
A term insurance plan is the best way to ensure the financial well-being of your family members in case of any
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.