An Overview of Coronavirus & The Pandemic
Coronavirus is reported to attack the immunity of human beings resulting in diseases ranging from the common cold to SARS(Severe Acute Respiratory Syndrome) which includes major respiratory illnesses like pneumonia, infection in the nose, upper throat and sinuses too. It also caused kidney failure in people and multiple organ failures were also reported for many people.
The disease caused high death rates in people aged over 60 and for all age groups who had pre-medical conditions. Even though the symptoms of Coronavirus disease are the same as flu, sore throat etc the infection is highly scary.
The new strain of coronavirus was found in China which was unknown to people before. This came to be known as COVID-19 and the disease was named as novel Coronavirus disease. New variants like Delta, Omicron etc were detected after the initial pandemic outburst where the virus was mutating to new ones.
Get To Know About Coronavirus Health Insurance India
Just like the normal health insurance Coronavirus health insurance refers to the insurance policy that will cover the medical costs incurred in the treatment of coronavirus disease. This is mainly designed to cover the hospitalisation expenses of the insured.
Normally all health insurances in India cover hospital expenses incurred on viral infections yet the COVID-19 and its variants will be covered if you have a comprehensive policy for your health for its infections with many variants now spreading.
The policy will be active from day one for the insured when he gets diagnosed with the disease as it’s a new disease. So it doesn’t come under the category of pre-existing medical conditions or illnesses. Almost all health insurance companies in India offer Covid health insurance too for the policyholder.
Different types of Coronavirus Health Insurance policies
It’s now a compulsory rule for all insurance companies in India to offer cover for Coronavirus disease along with their comprehensive health insurance plans as per the IRDAI. Hence whether you have insurance plans for family floaters or individuals, you will automatically get a COVID-19 cover too.
There are separate coronavirus cover plans available too with every insurance company in India. There are two main types of Coronavirus insurance plans available as of now in India.
Covid insurance Indian plans include:
- Corona Kavach Policy – This is the standard COVID-19 policy which covers all the criteria included for coronavirus in the comprehensive health insurance plans but this has to be taken separately and has a sum insured amount starting from Rs.50,000 and goes up to Rs. 5 Lakh. AYUSH treatments are also covered in this policy. This coronavirus insurance for family is very helpful in covering the entire family in case the pandemic spreads fast within the family.
- Corona Rakshak Policy – This is also a stand-alone insurance policy for COVID-19 and is available to individuals between the age of 18 and 65 years on an individual Sum insured amount ranging from Rs.2.5 Lakh to Rs.5 Lakh. Customers with pre-existing medical conditions can also get insured under this by paying an additional premium. All basic expenses related to the pandemic are covered under this one and it also pays for hospitalization of a minimum time of 72 hours required for the treatment of the disease in India.
Apart from these main two stand-alone policies let’s look at the policy covers depending on each case and circumstance.
- Covid Insurance plans for Employees – If your company has given you a health insurance plan it generally comes under group health insurance. You need to check with your employer if the insurance company they’ve chosen covers coronavirus treatment expenses. If the health insurance is either Corona Rakshak or Corona Kavach then you can get sure cover for the COVID-19 hospitalisation within India.
- Covid Insurance for travelling – Most of the insurers are providing travel cover for COVID-19 because of obvious reasons that covid is fast spreading among the people who travel a lot or even on a one-time journey. The cover will cover most of the expenses which need immediate attention like
- Trip cancellation – if you or your immediate family member gets diagnosed with the disease while travelling or just before travelling.
- Automatic Extension – if there is a lockdown in your destination place of travelling the insurance policy will be extended up to the mentioned dates.
- Sickness medical expenses – these are the expenses occurring while you or your immediate family member is abroad and gets diagnosed with COVID-19.
- Covid insurance for International travel – you can easily get coverage for coronavirus under your International Travel Insurance plan. The terms and conditions are different in the international cover unlike the travel insurance within India. But you can raise a claim when you or your family member gets COVID-19 when you are on your international trip from India.
- Covid Insurance for Senior Citizens – This can be a difficult scenario because the senior citizens might already have pre-existing medical conditions or because of their weak immune system, they are more prone to get attacked by the virus in most cases. But to keep the senior citizens financially protected in case they get contracted by the pandemic, the insurance companies in India have got plans for them separately. It could be customised according to their requirements. The cover for senior citizens include
- Pre/ post hospitalisation expenses
- In-patient hospitalisation expenses
- Daycare hospitalisation expenses
- AYUSH treatment
- Road ambulance expenses
However, the plans for senior citizens have some exclusions which are:
- Home Quarantine
- Unrecognised quarantine centre
- Pre-existing medical conditions treatments.
- Hospitalisation without a recommendation from a doctor.
Apart from Corona Kavach Policy and Corona Rakshak policy available for Senior citizens as well Arogya Sanjeevani policy which is a standard health insurance policy also provides cover for coronavirus treatments and expenses for Senior Citizens.
- Covid Insurance for Employees – Covid insurance for workers are generally covered under the group insurance cover but there are Public health workers and private hospital health workers who might get the disease when they have direct contact with the patients. Hence this policy scheme will cover the loss of life due to COVID-19 or any accidental death while on the COVID-19-related duty.
Best Covid insurance policies available in India with the different coronavirus insurance plans and their premium charts.
Let’s look at the top insurance companies in India providing the COVID-19 cover plans and their covid insurance policy premiums.
Here is the Covid insurance premium chart:
Insurance Company | Sum Insured | Premium |
SBI Covid Insurance – SBI LIFE Corona Rakshak | Rs 10 Lakhs to Rs 30 Lakhs | Starting at Rs.156/- month* subject to changes as per company terms. |
HDFC Corona Kavach Policy | From Rs 50,000 to Rs. 5 Lakhs | HDFC covid Insurance depends on the age and Sum insured offered by the company for which you may have to contact them directly for details. |
Star Health Covid Insurance- Star Novel Coronavirus Insurance policy | From Rs. 1 Lakh to Rs. 25 Lakhs | Star covid insurance depends on the age of the Insured person, But starts at Rs.619/- month subject to changes as per company terms. |
Reliance Covid insurance policy – Corona Rakshak policy | From Rs.5 Lakhs to Rs.10 Lakhs | Depends on the terms of the company but may start at Rs.552/- month |
Bajaj Allianz covid insurance claim cover – Corona Kavach policy | From Rs. 50,000 to Rs.5 Lakhs | Bajaj covid insurance depends on the age of the policyholder and the Sum insured chosen for which you have to contact the insurance company directly. |
Digit Covid Insurance- Corona Kavach | From Rs.2 Lakh to Rs.25 Lakhs | Rs.453/- month subject to changes as per company term changes. |
Niva Bupa (Max Bupa) Covid Insurance- | From Rs. 3 Lakh to Rs. 1 Crore | In max bupa covidInsurance the premium is Rs.566/- month subject to changes by the company |
Benefits of Coronavirus Health Insurance Plans
There are a lot of benefits when you take the insurance plan for covid insurance coverage.
Some of the covid insurance coverage benefits include:
- Home treatment as suggested by the doctor
- Coverage of the consumable expenses like PPE kits, masks, gloves, ventilators etc.
- Add-on covers
- Cashless treatments in-network hospitals.
- No age-based co-payment in most of the plans
Claim settlement in Covid Health Insurance
For a health insurance company the claim settlement could be cashless if you are admitted under their list of network hospitals mentioned under policy terms. When you get admitted you need to follow the procedures with the help of your friends or family for example the Bajaj Allianz Claim is settled in the following ways mentioned.
- The details need to be filled out and sent to the insurance company and that will be done by the staff in the insurance section at your network hospital.
- The insurance company then authorises the approval for the treatment procedures required for the insured.
- You do not need to pay anything till getting discharged.
- The treatment will be borne by the insurance company if all details are approved and authorised only.
- You might have to keep all documents safe even after you get discharged which will be verified by the Bajaj Allianz medical insurance team
- The claim will be settled within 15 days of the intimation date if everything is submitted on time and all details are correct.
- If the insured delays the intimation of the claim then the settlement might take longer as well which could go up to 2 months.
We have seen in the last two and a half years how uncertain our lives can get. But now, you can prepare yourself to face the challenges hitting you. Buying the coronavirus insurance policy has become crucial for almost all people as COVID-19 has already claimed a huge number of human lives all across the world. Before buying your corona insurance plan you should be aware of what is exactly covered and not covered and for that you must carefully go through the policy wordings and details.
Living With Coronavirus
It’s been two and a half years since the outbreak of the pandemic the whole world faced. There were billions of cases reported all across the world who got attacked by the virus and the death rates too went up the scale drastically. Moreover, there were multiple variants of Coronavirus that surfaced again after the initial breakout. The new omicron variant is considered the ‘variant of concern’ by the World Health Organisation (WHO).
The new variant is again spreading as per the reports from February month this year just like in Europe and USA. It’s very important to be prepared for any unfortunate or emergency circumstances that may arise out of the vast spreading of the pandemic to remain on the safer side well in advance. Hence it is best to get coverage for the pandemic in your health insurance or medical insurance policy.
Several vaccines for COVID-19 have been developed all across the world and India has got Covishield, Covaxin and Sputnik V. majority of the population have got themselves vaccinated as well.
Common FAQs
- Is there a separate insurance policy cover for the Omicron variant?
No, the basic stand-alone Coronavirus insurance policy is sufficient for the Omicron variant as it is considered as a dangerous variant of COVID-19, causing more infections than the others though the symptoms might be less visible.
- What is the minimum waiting period in coronavirus insurance before making the first claim?
Coronavirus insurance will have a waiting period from minimum 16 days – 30 days from the date of activation of the policy. It varies from insurer to insurer, so always best to contact the insurance company you are buying the policy from.
- Does the coronavirus insurance cover the isolation charges?
Yes, the quarantine period is also covered. But the insurance company need approval proof from a registered medical practitioner and the quarantine facility should be availed only from an approved centre exclusively meant for COVID-19