Coronavirus Insurance: All You Need to Know

The coronavirus pandemic has impacted every aspect of life. But the most important thing that it has taught us is the importance of a good health insurance plan. There’s no point living in denial anymore. With new strains of COVID-19 emerging, we can safely say that the pandemic is likely to continue for some time. So, the prudent thing to do is to protect yourself and your family against it.

The first step is insuring that you and your loved ones have taken the vaccination. The next step is to look for the best corona insurance.

What is Corona Insurance?

Covid insurance plans are specifically meant to provide the insured cover for the treatment of coronavirus infections. They cover the entire range of expenses, from pre-hospitalisation to post-hospitalisation. They also help you bear the other expenses associated with the treatment of the virus.

An online corona insurance calculator is a good way to make an informed decision regarding the type of insurance plan to purchase. You will be covered from the Day #1, unlike other health insurance plans that have a certain waiting period. During these times of economic uncertainty, the one thing that such plans offer is peace of mind.

Different Types of Covid Insurance and What They Offer

The two most popular insurance plans in this category are Corona Rakshak and Corona Kavach. Let’s take a look at how they safeguard you against the Covid-related expenses and what they include:

• Corona Kavach Policy: This is a standard health insurance policy that covers treatment expenses. The policy offers cover against AYUSH treatment expenses, homecare expenses, pre-hospitalisation expenses, post-hospitalisation expenses, and more. It provides cover to both individuals and their families. It offers cover for different durations, such as 3.5 months (105 days), 6.5 months (195 days) and 9.5 months (285 days).
• Corona Rakshak Policy: This is a benefit-based health insurance policy that pays the insured a lump sum equal to 100% of the sum insured if the policy holder tests positive for coronavirus. The policy offers coverage ranging between ₹50,000 and ₹2.5 lakhs. People aged between 18 years and 65 years are eligible for this policy. However, being a benefit-based policy, it does not offer a lifetime reward. Also, this policy does not cover family members and is only meant for individuals.

Major Benefits of Coronavirus Health Insurance

Take a look at the benefits you stand to gain with this insurance policy to make an informed decision:

• Apart from the coverage benefits, including hospitalisation expenses: both pre- and post-hospitalisation expenses are included. It also includes other treatment-related expenses.
• Being a short-term policy, by default you get a lot of flexibility on the premium. In simple words, you don’t have to pledge your money for long periods of time, as is the case with regular insurance schemes.

So, stay safe and give yourself and your family peace of mind by investing in the best Covid insurance policy.