Pandemics and Health Insurance Cover

As per WHO guidelines, a pandemic is declared when a new disease for which people do not have immunity spreads around the globe beyond expectations.

You can buy health insurance for you and for your entire family.It is important to make sure your hospital admission and treatment expenses are covered adequately. Moreover, viral infections like Ebola, H1N1 and now coronavirus are not a part of pre-existing ailments and they don’t have any waiting periods implied.Some Insurance companies can apply waiting period of first 30 days.Your health insurance policy will cover you for testing and the cost of treatment for the novel coronavirus during hospitalisation including pre and post loss expenses.

All claims reported under pandemic must be handled by the insurers where hospitalization will be covered also covering the costs of admissible medical expenses during the course of treatment. It also ordered insurers to design specific products covering the costs of treatment for coronavirus infection and other vector-borne diseases like malaria,Chikungunya.

Pandemic diseases are threat to the life of people until vaccination and preventive medicines are not invented.Hence in the initial phase of spread of pandemic,health insurance plays an important roll to mitigate the medical treatment cost of the family.

Pandemic not only makes people weak physically but also economically.All the things right from unemployment to migration are results of pandemics.If not handled properly at the self level can lead to total dependency on the government.Hence health insurance is very important in the hours of pandemics.

Very attractive plans are available in the market right from free govt health insurance schemes for eligible people to self health insurance plans provided by public and private insurance companies in the market.

Two corona covering health insurance policies are launched in the market.First Corona Kavach policy is inclusive without any non consumable deductions.Daily cash of 0.5% is provided as add on.Waiting period of first 15 days is applicable but pre-hospitalisation 15 days and post-hospitalisation 30 days expenses are covered.Policy period varies from 3 1/2, 6 1/2, 9 1/2 months.Available on family floater basis with attractive discounts.Corona Kavach policy will be an indemnity-based policy, but optional cover shall be made available on benefit basis. The base cover will offer hospitalization expenses like room and boarding charges along with PPE kits, gloves, masks and such other similar expenses and even AYUSH treatment.Corona kavach will also cover home care treatment expenses of up to 14 days, if it involves an active line of treatment and is done on a medical practitioner's advice, among other conditions. Cost of pulse oximeter, oxygen cylinder and nebulisers will also be covered.No pre health check up is required to buy policy.Other co morbidity conditions are also covered.

Corona rakshak is another policy available for sum insured cover of Rs.2.5 lac.A 72 hours hospitalisation is complulsary in this case.Once it is completed a lump sum Rs.2.5 lac can be paid.This policy is designed especially to cover the loss of salary,income etc.Once the claim is paid this policy will be ceased.The minimum entry age for both the policies shall be 18 years and the maximum is 65. Dependent children shall be covered from the age of three months to 25 years. However, only the indemnity policy comes with the family floater option. The policy tenure could be 3.5 months, 6.5 months or 9.5 months, including the waiting period, and health insurance rules such as lifelong renewability, migration, and portability shall not be applicable to these products.

Policyholders can avail of the services on a cashless basis, which shall be arranged by the insurer through network providers.

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