Is Coronavirus covered by my current health insurance policy
Updated On Apr 01, 2022
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In March 2020, the world learned about the Coronavirus, which swiftly spread across borders from China and killed millions of people throughout the world, sparking the Covid pandemic. The virus's urgency stems from its extraordinary pace of infection and mutation, and despite the availability of a vaccine, we must continue to take all necessary safeguards. However, if someone catches Covid-19 seriously, hospitalization is required, which comes with a considerable expense of treatment. Considering growing medical costs and commensurate growth in the number of lifestyle-related medical diseases, the advantages of purchasing health insurance policies are well-documented. Health insurance becomes much more crucial in the event of a pandemic. According to reports, people with comorbidities like diabetes, hypertension, kidney disease, or cardiovascular problems, in addition to cancer and other critical illnesses, are more likely to contract coronavirus. Senior individuals are also more vulnerable to the epidemic, according to reports. As a result, having health insurance is required, but many people are unsure whether their existing plans cover Coronavirus and whether they need to purchase a specialized Coronavirus health insurance policy. We'll go over all of these topics in this post to dispel any myths or misunderstandings you might have.
Is Covid-19 Covered By My Current Health Insurance?
During the early days of the epidemic, most health insurance policies in India included health insurance coverage, but it only provided cash aid if you were hospitalized for 24 hours. Because most indemnity health insurance policies do not cover outpatient treatment, you would be unable to claim if you were not hospitalized. Although Covid-19 was labeled a pandemic, several private insurance companies refused to cover the condition. They claimed that under Indian government insurance standards, claims for epidemics and pandemics were designated as exclusions. Government authorities, on the other hand, adopted a fundamentally different stance, refusing to dismiss any claims for Covid and acknowledging the greater influence that Covid-19 had on people's life. Instead of worrying, contact your health insurance provider to inquire about Covid-19 coverage. According to specialists, very few policies exclude pandemics, and you should examine the policy papers carefully to acquire a better understanding.
Is It Possible To Purchase A Coronavirus-Specific Health Insurance Plan?
You can always get a Coronavirus specialized health insurance plan to offer additional protection. Insurers can now provide short-term Covid-19 specific health policies with a minimum duration of 3 months to 11 months, according to insurance authorities. Coronavirus plans are more expensive since they are for a shorter period, but they are an excellent option if you do not have financial protection from a full health insurance policy. These insurance have a minimum sum insured of INR 50,000 and a maximum limit of INR 5 lakh, with a 15-day waiting period. Individuals between the ages of 18 and 65 are eligible to participate. The government of India's Corona Kavach Policy is the newest specialized health insurance policy that includes the expenses of consumables such as PPEs and does not impose a ceiling on room rent. There are already several well-known health insurance companies that cover Covid-19 as well as hospitalization, but these policies frequently come with limitations, waiting periods, and pre-existing diseases. As a result, having Coronavirus-specific health insurance coverage is recommended for added protection.
Hopefully, the information in the preceding sections has answered your questions concerning Covid-19 coverage and health insurance policies. If you get the illnesses during the waiting time or have recently traveled to an affected nation, your claims and coverage may be canceled. To protect yourself and others from Covid, be exceedingly vigilant and take measures. HDFC ERGO, Star Health, Reliance Religare, Max Bupa, and Care Insurance Company are among the reputable private insurance companies that offer Covid-19 coverage.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.