Know Various Benefits Of Health Insurance During COVID -19 Pandemic
Published On May 16, 2022
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The pandemic has affected everyone in some way or the other. The income for many has decreased, and treatment costs are soaring high. Though everything may seem out of control, there are a few areas where you can secure yourself. The top one is investing in a great short-term insurance policy, exclusively for COVID. A helpful financial aid to assist you to sail smoothly without burning up your life’s savings, in case you or a family member needs medical aid.
Top COVID Policy Buying Tips to Your Rescue
Credible and Trustworthy Provider
Zero compromises should be made when it comes to choosing an insurance provider. The best way to select a credible provider is by getting a hold of the company's claim settlement ratio. It is true indeed that numbers speak for themselves. Numerous insurance providers are offering an array of features and pricing their COVID policies competitively. What you have to understand is that the claims process wouldn't be a breeze with each one of them. Claim settlement ratio gives you an insight into the number of claims made by insurers vs how many were cleared or paid out by the company.
Suitable Cover Amount
Different insurance providers offer varied coverage and sum insured, from Rs. 50,000 to Rs. 5 lakhs. You should choose the cover amount keeping in mind your current financial capacity and the monetary aid you might need if you or a family member contracts the disease.
You can also select policies on an individual or floater basis. A floater policy is applicable for the entire family, be it your spouse, parents, parent-in-law, or dependent children. An individual policy means the sum insured applies to individual family members for whom the policy has been taken out.
A COVID insurance policy is a necessity. With the country's economy and individual incomes on a decline, reasonable premiums are what you should look for. Striking a balance between the coverage amount and easy premiums is essential. Opt for covers with affordable premiums that fit your budget.
Hassle-free Claim Process
The key aspect to keep in mind for any COVID policy is the application and claim settlement process. Adding to the already prevalent woes with policies that make you walk pillar to post is a big no. Read the claim process terms and conditions carefully to avoid any surprises if the time comes to apply for a claim. Prefer policies that provide cashless claims across a huge network of hospitals.
Reliable Customer Support and Service
Amidst a pandemic, the last thing you need is no one to solve your grievances for claims, etc. Therefore, when choosing a COVID insurance policy, talk to the customer representatives of several providers. This may help you in getting an idea about their customer support and how quickly they listen and solve your grievances.
You can also go online and read reviews about the customer support offered by the provider you are considering.
Investing in health insurance policies is always a great idea. And in this pandemic situation, the policies curated especially for COVID treatments have become a necessity. Choosing the right plan can become a little bit overwhelming. But a few tips for choosing the best plan can go a long way in helping you. Invest in a COVID policy to secure yourself and your family in these uncertain times.