Covid-19 health insurance policy coverage starts from the day the insured is diagnosed with the disease. Since this is a new disease, it doesn’t fall in the category of pre-existing illness.

Types of Covid-19 Health Insurance Policy

There are different types of Covid-19 health insurance policy; these include:

1. COVID-19 Health Insurance Type 1- Corona Kavach- This is the standard policy for Covid-19 treatment. It works in the same manner as indemnity-based health insurance. It covers the cost of hospitalization and also the cost that one bears for home treatment of Covid-19. The sum starts from Rs. 50,000 up to Rs. 5 lakh.
2. COVID-19 Health Insurance Type 2- Corona Rakshak- The next type of Covid-19 health insurance policy is the Corona Raskshak. This one works similar to the other insurance plan. Once the insured gets diagnosed with the diseases and gets admitted, the insurer releases the amount after 72 hours of continuous hospitalization. The minimum sum insured under this policy is Rs. 25,000 and it can extend up to Rs. 2.5 lakh. The insurance premium may vary between. Rs. 500 to Rs. 5000 based on the tenure of the insurance.
3. Coronavirus Group Health Insurance– If you are insured under the Group health insurance, your insurance provider will provide you with the insurance under the Corona Rakshak or Corona Kavach.

Important Things You Should Know About Covid-19 Health Insurance Policy

Concluding Thoughts

 The best part about the Covid-19 health insurance policy is that you don’t have to wait to release the payment. Moreover, it covers all the costs like hospitalization charges, PPE equipment, ambulance, mask, etc. Most of the policies are cashless. Although we have the vaccination going on in full swing, the disease is not yet over. Hence, if you have still not insured yourself under any of the Covid-19 insurance policy, then you must do so immediately.

Choosing Covid-19 Insurance Policy Online: What should you know?

How important health insurance during Covid-19 time

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Like other health insurance plans, this coronavirus health insurance policy also covers hospitalization costs settled on the treatment of Coronavirus infections. Since Coronavirus is an infection caused by a virus, an overall health insurance plan offers monetary coverage for pre & post medical expenses that includes in-patient and out-patient charges that are cost at the time of the treatment.

Covid-19 health insurance policy will be effective from the very day on which the policyholder gets diagnosed with the disease. Again, it does not occur under the pre-existing ailment category since COVID-19 is a novel disease. Some of the prime benefits of this policy are-

1. Home treatment
2. Consumable costs
3. CoronaVirus Treatment
4. Cashless Treatment
5. Co-treatments
6. Add-on covers

If you are looking for a particular health coverage protection for coronavirus (COVID-19), then considering a conventional health insurance plan that incorporates all treatment expenses of COVID-19 will be an ideal choice. In India, two standard products have been launched that correspond to the guidelines of IRDAI. Here are three Covid-19 health insurance policy types-

1. Corona Kavach Policy:

A standard coronavirus health insurance plan that includes hospitalization costs, home care nursing expenses, ambulance prices, price of PPE materials, medications, doctor payments, and ICU costs. The total covered amount begins from Rs 50,000 and limits to Rs 5 Lakh.

• Corona Rakshak Policy:

A specific health insurance policy that compensates for hospitalization of a least 72 hours and more as needed for corona therapy in India. The plan includes fees incurred towards PPE’s, oxygen, nebulizers, AYUSH treatment, etc. This policy is available for the age group of 18-65 years. The sum range is from Rs 2.5 lakh to Rs 5 Lakh.

• Coronavirus Group Health Insurance:

It covers the entire coronavirus processing expenses of the treatment. It provides the collective compensations of the aforementioned policies under the single plan.

Wrapping up Coronavirus condition is a recently recognized disease, however, all existing health coverage plans will give coronavirus health protection cover. This indicates that if you bought a health coverage policy before examining positive for the COVID-19 disease, any medical costs acquired on its treatment will be included under it.

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