Coronavirus Health Insurance

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Coronavirus Cases in India and World

Currently, in India, as of August 09, 2021, there are 402,188 Active cases of Coronavirus (COVID-19). It has become a matter of great concern for our vastly populated nation. About 3,113,9457 coronavirus patients have been discharged and cured in the country. The total number of vaccinated people in the country to date is 50,86,64,759.

Now it is spreading widely in India as well, like Europe and the USA, therefore it is important to be prepared for any unfavorable circumstance in advance. But if you have a health insurance policy, the question is if the novel Coronavirus disease falls under the ambit of medical insurance coverage in India or not?

What is Coronavirus?

Novel Coronavirus (COVID-19) is a group of viruses that attacks the immunity of a human being causing diseases ranging from the common cold to Severe Acute Respiratory Syndrome or SARS. In late December 2019, a new strain of coronavirus originated in China, which was unknown to humans before. It came to be known as the novel Coronavirus disease or COVID-19.

The coronavirus disease causes infection in the nose, upper throat, and sinuses. In severe cases, the virus can lead to major respiratory illnesses such as pneumonia, kidney failure as well as multiple organ failure. Therefore, the 2019-nCoV or the novel coronavirus disease has been fatal largely for people above the age of 60 years and those who had pre-medical conditions.

The symptoms of Coronavirus infection are similar to those of regular flu that includes sore throat, fever, dry cough, runny nose, and sometimes a headache. Being a new strain of the coronavirus, there is no vaccination or guaranteed cure available as of now.

What is Coronavirus Health Insurance?

Coronavirus Health Insurance refers to an insurance policy that covers the medical expenses incurred on the treatment of COVID-19. A coronavirus health insurance policy is designed to cover the hospitalization expenses of the policyholder, irrespective of the disease that he has been diagnosed with (unless it is a critical illness that is not covered). Almost all the health insurance plans cover hospitalization expenses incurred on the treatment of viral infections. Since Coronavirus is a viral infection, a comprehensive health insurance policy pays off pre & post-hospitalization expenses including in-patient and out-patient expenses, incurred on the treatment of COVID-19.

Health insurance for coronavirus cover will be available from the day the insured gets diagnosed with the disease. This is because COVID-19 is a new disease and therefore, does not come under the category of pre-existing illness.

Key Benefits of Coronavirus (COVID-19) Health Insurance

Some of the major benefits of Coronavirus Health Insurance are listed below:

Coronavirus TreatmentCovered with zero additional cost
Home TreatmentCovered if suggested by a doctor
Consumable ExpensesCost of PPE kits, ventilators, masks, gloves,
Co-paymentAge-based Co-pay is not there in most of the plans
Cashless TreatmentAvailable
Add-on CoversAvailable

Types of Coronavirus Health Insurance in India

If you are looking for a specific health insurance cover for coronavirus (COVID-19) then you can consider standard health insurance policy that covers all medical expenses incurred during the treatment of COVID-19. These are two standard products that have been recently launched as per the IRDAI guidelines. And the policy terms remain the same across all the health and general insurance companies in India. Checkout out both COVID-19 health insurance plans types along with the policy benefits:

  • Corona Kavach Policy : COVID-19 Insurance PolicyCorona Kavach Policy is a standard coronavirus health insurance policy that covers hospitalization expenses, home care treatment cost, ambulance charges, cost of PPE kits, medicines, gloves, masks, doctor fees, ICU charges incurred during the treatment of COVID-19 pandemic. The sum insured amount starts from Rs 50,000 and goes up to Rs 5 Lakh. You can get your family covered under this plan that also pays for Ayush treatment in India.
  • Corona Rakshak Policy : COVID-19 Insurance PlanCorona Rakshak Policy is also a COVID-19 specific health insurance policy that pays for hospitalization of a minimum of 72 hours and more as required for COVID-19 treatment in India. The policy covers expenses incurred towards PPE’s, nebulizers, masks, oxygen cylinders, gloves, oximeters, AYUSH treatment, etc. that are limited under a regular medical insurance policy. This COVID-19 insurance policy is available to individuals between the age group of 18-65 years on an individual sum insured basis that ranges from Rs 2.5 lakh to Rs 5 Lakh. Applicants with co-morbidity can also get insured paying an additional premium.
  • Coronavirus Group Health InsuranceIf you are covered under a group health insurance policy, then you need to check with your insurer if it covers coronavirus treatment expenses. However, if your group health insurance policy is either Corona Rakshak or corona Kavach then you are surely covered for the COVID-19 hospitalization in India.

Health Insurance for Coronavirus (COVID-19) in India

Since the outbreak of coronavirus, many insurers have been offering Covid-19 Health Insurance cover in their base plans. They are also providing specific Covid-19 Insurance Plans, Corona Kavach and Corona Rakshak are two such indemnity and benefit-based plans that have been popular with people in India. All the hospitalization expenses, Ayush treatment expenses, and home treatment expenses are covered along with the cost of consumable items in these two mediclaim policies for coronavirus. 

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