The deadly novel COVID-19 has affected almost every part of the world. Lakhs of people have lost their lives fighting the virus. As of now, there is no official vaccine that will safeguard you against the illness and the medical emergency, but there’s one way that will help you to sail through the crisis with a prepared financial approach.
The world is dealing with the novel COVID-19 pandemic, which has claimed thousands of lives. In India, the number of coronavirus infected people is growing massively. This is a healthcare emergency. During such difficult times, the government of India announced a complete lockdown and issued orders to stay home to flatten the curve of the virus.
This pandemic is a real medical emergency. To help people deal with the situation without any financial worry, the IRDAI has asked insurance companies to provide cover for COVID-19 treatment. As per the regulatory authority, several insurance companies in India have started offering the protection cover, which also includes a well-known HDFC Ergo.
The COVID-19 test costs around Rs.4500 per person. Besides, the overall treatment costs can reach a maximum of Rs.10,000 per person. For middle class and lower-middle-class families, the medical expenses can be overwhelming, causing a financial burden. To help common man fight against the crisis, HDFC Ergo is offering protection cover for COVID-19 illness under its existing health insurance policies.
Type of Health Insurance Policies:
- Basic indemnity health insurance plan
- Top-up health insurance plan
Inclusions under health policies for COVID-19 protection
- Pre & Post Hospitalization expenses under all health plans
- Sum assured that matches with the admissible claim amount
- Cover for bed charges, ICU, blood tests, nursing charges
- Consultation fees
- Ambulance cover
- No room rent capping if you’re hospitalised
- Quarantine cost if the treatment is at a registered medical facility
- Cover for confirmatory for COVID-19
- The claim is payable if you’re hospitalised due to coronavirus for least 24 hours
Exclusions relatedto COVID-19 protection cover
- No cover if self-isolation is at your home
- No claim unless the policy completes 30 days of the waiting period
- You cannot file a claim if you contract the disease during the waiting period
Importance of health insurance in the timeof Coronavirus outbreak
The widespread of coronavirus has led to lockdown all over the world. In such difficult times, where the nation’s economy is collapsing, shares are lowering, liquidity in such situations can be a big concern. Hence, staying prepared with a health policy in India will help to reduce the financial burden to some extent. Here are some essential facts about coronavirus cover health insurance:
- All your existing health insurance policies will cover treatment expenses for coronavirus. If you’re using any of the three plans, including Health Suraksha,Health Suraksha or Group Mediclaim Health Insurance, you can claim for treatment expenses
- The criteria for hospital admission will depend on the treatment, evaluation and quarantine suggested by the medical practitioner
- You can file for cashless claim if you seek treatment at the network hospital or you can apply for reimbursement post hospitalisation
- The insurance company does not cover domiciliary treatment for COVID-19
- HDFC has an extensive network of hospitals where you can opt for cashless treatment
The damages caused by the virus are catastrophic. The only thing you can do now is to stay at home and follow the precautionary measures, which will protect you and your loved ones. While we are always there for medical emergency needs, but you also need to contribute by staying home and contain the spread of the virus in the country.