Health

Should You Get A Covid-specific Insurance Plan?

Covid-specific Insurance Plan

In light of the present situation, it is wise to take precautionary actions to stay protected. The unprecedented Covid-19 crisis has made an enormous impact on the entire world. Besides the health crisis, the continued spike of Covid-19 cases made it difficult for individuals to cope with financial losses. 

Thus, different insurance aggregators have launched Covid-specific health plans under the corona kavach policy to help individuals mitigate their troubles. According to health officials, the treatment process can get lengthier depending on an infected patient’s immunity system. It inevitably increases the overall charges from medicines and tests to hospitalisation. 

The coronavirus insurance cover ensures that individuals get the best medical assistance without facing unbearable financial burdens. However, before opting for one, it is necessary to understand the basics of this policy and its features.

What is a corona kavach policy?

As the name suggests, this is a Covid-specific healthy insurance policy regulated by the Insurance Regulatory and Development Authority or IRDAI. The purpose of this policy is to provide monetary assistance to Covid-infected patients by handling all the hospitalization, medicinal, and test expenses. 

The policy also covers the home-care treatment for patients staying in home quarantine and availing aid from a hospital. For individuals who already availed of hospital cash cover earlier, this particular policy might seem like an additional liability. However, before deciding otherwise, it is imperative the consider the extent of coverage this policy provides and how individuals can benefit from it. 

What does Covid-19 insurance plan cover?

It took a long time to understand what is coronavirus and how the impacts will be on regular people. Considering the seriousness of this infection, it is advisable to get financial aids so that it does not become challenging during emergencies. 

Certain specifications make the policy for coronavirus insurance in India distinct, for instance:

  • Full family protection: Since Covid-19 is a highly contagious disease, chances of infection from one family member to another is significant, especially if kids and elderly individuals are there. The corona kavach policy provides coverage for the entire family, from spouse to children to parents. Thus, one does not need to pay multiple premiums for each family member. 
  • Treatment expenditure: Even after taking adequate precautions, individuals are testing positive worldwide. Treatment costs alongside a possible loss of pay can take a significant toll on one’s savings. To this end, policies like Bajaj Finserv Covid-19 insurance plan under Pocket Insurance & Subscriptions comes as a huge financial aid that covers all treatment expenses during the quarantine period, even the ambulance charges up to a certain amount. Individuals are only required to provide the Covid-19 positive diagnosis result to avail the benefits. 
  • Flexible age limit: One of the best coronavirus insurance coverage traits is the flexibility in age criterion. Anyone between the ages of 18 and 75 can avail this policy, and the same applies to the individual’s parents, spouse, and parents-in-law. Dependent children from the ages of 45 days to 30 years are also eligible for coverage.

Due to the grave effect of coronavirus, individuals are opting for health insurance policies more than ever. Insurance aggregators are even coming up with infection insurance cover where you get the financial coverage for doctor’s fees, medication, hospital charges, etc. to tackle treatment costs for infectious diseases. 

The pandemic has significantly impacted a large share of working individuals, especially in regard to their financial standing. With policies like corona kavach, it has been easier to handle the excessive treatment expenses during this difficult situation. The coronavirus insurance cover ensures that individuals get the best medical assistance without facing unbearable financial burdens. However, before opting for one, it is necessary to understand the basics of this policy and its features.

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