Does Your Existing Health Insurance Policy Cover Coronavirus (COVID-19) Disease

Published On 05 Mar 2020 By Yamini Sharma

Does Your Existing Health Insurance Policy Cover Coronavirus (COVID-19) Disease?

Health Insurance for Coronavirus Disease: Ever since the outbreak of Coronavirus or COVID-19, people from all over the world have become highly concerned about their health. 

After all, the virus is spreading at a rapid pace, thereby increasing the death rate. 

Unfortunately, India too has become a victim of this deadly virus. 

With around 30 confirmed cases of coronavirus (COVID-19) in the country till date, it has become necessary for every individual to stay aware, stay safe, and take every possible precaution to prevent the forlorn medical situation. 

However, the relieving news is that finally, we have health insurance for coronavirus in India. 

With the rising cases of COVID-19 in India, every citizen was hopeful of a specific health insurance policy being introduced for coronavirus. 

GoDigit has come up with a brilliant policy that will successfully enable hundreds and thousands of people to secure themselves against the disease. 

The insurance company has introduced the cover under Digit Health Care Plus Policy, specifically to cover coronavirus or COVID-19. 

The cover is offered as a part of a Sandbox product - “Need Based Insurance” IRDAI Regulatory Sandbox Regulations 2019, which motivates insurance companies to launch innovative products so as to help the customers in the time of need. Here, products are tested on a pilot basis for a period of six months. 

Availability : 

The cover under Digit Health Care Plus Policy is available for purchase only until 1st July 2020 and is valid for a period of one year. 

Eligibility :

  • The maximum entry age is 60 years.
  • The policy stands applicable to individuals only, so no family members of the insured can be insured.

Key Aspects :

  • Applicable for Indian residents only. 
  • The initial waiting period is 15 days.
  • The policyholder gets to choose from a wide range of sum insured options. The choice of coverage starts from Rs. 25,000 and goes up to a maximum of Rs. 2 Lakh.
  • The base premium for the cover is Rs. 299 including GST.
  • It is a fixed benefit cover. It does not come with a requirement to produce hospitalization bills.
  • The claim process is simple. It does not require the insured to submit any sort of hard copy. To start the treatment, all the insured requires is a certificate from a government medical officer or a positive virology report from ICMR – National Institute of Virology - Pune, India. 

Cover Inclusions :

  • Positive cases – In case, the Coronavirus Disease (COVID-19) test is found positive from any of the authorized centers of ICMR – National Institute of Virology, Pune, 100% of the Sum Insured will be provided. The insured won’t have to wait for the completion of treatment. Note that once the cover will get exhausted once payment of 100% of sum insured is made. 
  • Quarantine cases – If an insured is quarantined (A period of 14 days – 40 days during which a person that might have a disease is kept away from other people so that the diseases cannot spread) in a Govt or Military hospital for at least 14 consecutive days, 50% lump sum of the Sum Insured will be given. Note that this is applicable even if coronavirus (COVID-19) is later negative as it covers the screening and treatment costs.

Cover Exclusions : 

  • Individuals or their family members who have travelled to China, Japan, Singapore, Thailand, South Korea, Malaysia, Hong Kong, Italy, Iran, Macau, Taiwan, Kuwait and Bahrain during the policy period. 
  • Treatment is taken outside India.
  • Any pre-existing condition declared or undeclared. 
  • People aged more than 60 years.
  • Treatment after payment of 100% sum insured.
  • Testing is done in a center other than those authorized in India (ICMR - National Institute of Virology- Pune, India).
  • Patients only under investigation (PUI) with inconclusive reports.
  • Symptomatic treatment in absence of Coronavirus Disease (COVID-19).
  • An additional cost of multiple testing or expenses of medications.

Frequently Asked Questions

      Q. What is Coronavirus?
      A. Coronavirus or COVID-19 is a virus that causes respiratory infection. 

     Q. What are the common symptoms of Coronavirus?
     A. The common symptoms of Coronavirus are like upper respiratory infection, including runny nose, headache, cough, sore throat, fever, and shortness of breath. 

    Q. Does any health insurance policy cover medical treatment costs related to Coronavirus?
    A. Yes! You can purchase Health Care Plus Policy by Digit to gain Coronavirus coverage. 

Also Read

Individual Health Insurance or Group Health Insurance - Concept, Differences & More

Health Insurance: IRDAI Issues Draft Norms to Ease Policyholders’ Experience

Final Words

Finding yourself as a victim of coronavirus or COVID-19 may be a nightmare for you at the present time. However, the best you can do to save yourself from the suffering is to take maximum precautions.

Additionally, you can invest in health insurance for coronavirus to keep yourself at least financially safeguarded. So, be smart, don’t waste time and choose Health Insurance for Coronavirus Disease! 

For details about health insurance policy for coronavirus, feel free to contact us at our toll-free number 1800-1205-698. 

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