Coronavirus Health Insurance is a specialized health insurance policy that covers the costs of therapy required as a result of a positive COVID-19 diagnosis. Apart from that, existing health insurance policies now include coverage for COVID-19-related hospitalization. Many people’s lives have been affected by the coronavirus (COVID-19), which has been labeled a pandemic. The overall number of persons affected by the disease in India is 3.42 million, with 4.55 lakh people dying as a result of the sickness (as of October 25, 2021).

Where Indians were still reeling from the second wave’s losses, analysts predict that the third wave of corona will arrive shortly. According to sources, the third wave of the COVID-19 pandemic is more hazardous than the first and second waves, necessitating extra care to prevent it from spreading.

In India, the third wave is predicted to peak in October 2021, with a total number of cases expected to reach about 6 lakh per day. The Insurance Regulatory and Development Authority of India (IRDAI) released a circular in response to the rising number of cases, requesting that insurance carriers develop health insurance plans that give protective coverage for expenses associated with coronavirus sickness.

Let us study more about coronavirus and coronavirus insurance policies in order to assess their relevance in today’s world.

What is Coronavirus (COVID-19)?

Novel coronavirus (COVID-19) is a group of viruses that assault a person’s immune system, causing illnesses ranging from the common cold to Severe Acute Respiratory Syndrome (SARS). It’s an infectious sickness that started in late December 2019 in Wuhan, China. COVID-19 is a highly contagious virus with symptoms that are comparable to the flu. Fever, dry cough, exhaustion, and a sore throat are some of the symptoms.

Sickness, on the other hand, affects people differently. People over the age of 60, as well as those with pre-existing medical issues, have died as a result of it. As previously explained, it is a new strain of the virus for which there is now no cure.

How Does The Coronavirus Spread?

Coronavirus is a respiratory virus that spreads mostly by saliva droplets when a person is afflicted. It can even be spread by nasal discharge. Hands must be washed often with soap and water or an alcohol-based hand sanitizer to prevent the virus from spreading. To prevent the transmission of germs, sanitise frequently used surfaces such as tables, door knobs, handles, drawers, and so on.

Is Coronavirus Dangerous?

The World Health Organization has classified COVID-19 as a serious sickness that is more hazardous than the flu. The condition manifests itself in a variety of ways, from minor to severe. When the confirmed instances were examined, it was discovered that about 80% of them were minor, while 15% were severe enough to necessitate hospitalization. Approximately 5% of the cases were in a critical state. In addition, a large number of deaths were documented in these cases. Despite the fact that the epidemic has been going on for months and vaccination drives are taking place around the country, there is still a fear component.

What is Coronavirus Insurance Policy?

Covid-19 health insurance is a specialized health insurance policy designed to cover hospitalization, pre-hospitalization, and post-hospitalization charges, as well as additional medical expenses incurred as a result of COVID-19 therapy. In India, almost all health insurance policies now include coverage for coronavirus treatment. The coverage begins the day after the insured is found to be coronavirus positive. COVID-19 does not qualify as a pre-existing condition because it is a new disease.

Role of Coronavirus (COVID-19) Health Insurance Policy

Coronavirus (COVID-19) insurance can be quite advantageous in this current pandemic situation, as coronavirus (COVID-19) is not expected to go away anytime soon. This is because a coronavirus health insurance plan is specifically designed to protect you from the high costs of treating this highly infectious condition.

A COVID-19 health insurance policy covers in-patient hospitalization, pre-hospitalization, and post-hospitalization expenses, allowing you to concentrate solely on your speedy recovery. So, if you don’t want to spend all of your savings on hospital expenses, you should avoid procrastinating and purchase enough health insurance for yourself and your family as soon as possible.

However, it is vital to highlight that the COVID-19 health insurance coverage does not cover therapy during the isolation time.

Coronavirus Health Insurance Plans in India

You can obtain a normal health insurance policy that covers all medical expenses, including those associated to the treatment of new coronaviruses, if you are searching for comprehensive coverage. The IRDA has created two short-term health insurance policies that are specifically designed to cover coronavirus treatment costs.

Types of Coronavirus Health Insurance Policy in India

In India, there are two types of corona health insurance plans.

  1. Corona Kavach Policy for COVID 19

Corona Kavach Policy is a regular health insurance policy with a single premium that covers COVID-19 treatment costs. It is an indemnity-based health insurance policy that covers both people and families at a low cost. This policy can cover you, your dependent children, your parents, and your parents-in-law for 3.5 months (105 days), 6.5 months (195 days), and 9.5 months (195 days) (285 days).

The coverage, which is available from both private and general insurers, covers AYUSH treatment costs, homecare treatment costs, pre-hospitalization costs, post-hospitalization costs, and road ambulance costs. The best part about the policy is that it has a 15-day waiting period, which means you can start using the advantages of the policy right away. You can also pay an additional premium for a daily cash reward.

  1. Corona Rakshak Policy for COVID 19

Corona Rakshak Policy is a regular health insurance policy that is specifically tailored to cover treatment costs associated with COVID-19. It is a benefit-based health insurance policy, unlike the Corona Kavach Policy, that pays the insured a lump sum reward equivalent to 100 percent of the sum insured if he or she is tested positive with COVID-19. The policy provides coverage for sum insured options ranging from Rs. 50,000 to Rs. 2.5 lakh in multiples of Rs. 50,000 on an individual basis.

Individuals between the ages of 18 and 65 can acquire the policy. The policy is available for short policy terms of 3.5 months, 6.5 months, and 9.5 months, and it terminates when the benefit is paid. However, the insured can only get policy benefits if he or she is found to be COVID-19 positive at a government-approved facility and is hospitalised for at least 72 hours. The policy has a 15-day waiting period, but because it is a benefits-based policy, it does not provide lifelong renewability.

Corona Kavach Policy Vs Corona Rakshak Policy

As previously stated, the Corona Kavach Policy covers the insured from healthcare costs associated with hospitalisation and treatment if the policyholder contracts COVID-19. The majority of hospitalisation expenses are covered by the policy, including treatment costs, medicine, room rent, nursing, and so on. However, this COVID-19 insurance policy only covers the expense of therapy; nothing else is covered.

Corona Rakshak Policy, on the other hand, is a benefit-based policy that pays out 100% of the money covered, regardless of medical bills. If you are the earner in your household, the policy is advised.

Getting Covered Under Corona Medical Insurance alongside a Basic Health Insurance Policy

If you already have a health insurance policy that covers room rental costs in the event of hospitalisation, you should go for the Corona Rakshak Policy. If you do not have health insurance, you can purchase the Corona Kavach Policy, which protects you from room rent and other charges.

If you are the sole breadwinner in your family, you should consider purchasing a Corona Rakshak Policy. Covid insurance coverage of at least 125 percent of your monthly earnings is recommended. However, make certain that this sum has no negative impact on your financial situation. So, if income replacement is your top objective, this is the coverage for you.

If you already have health insurance, you can purchase the Corona Kavach Policy. However, depending on the policies in place, the claim settlement may differ. So it all boils down to how much of a premium you’re willing to spend and which insurance you want to get.

Health Insurance Companies Offering Coronavirus Health Insurance Policy in India

Customers can purchase Corona Kavach and Corona Rakshak policies from the firms listed below.

Health Insurance Company Corona Kavach Insurance Corona Rakshak Insurance
Acko General Insurance Ltd. Yes No
Aditya Birla Health Insurance Co. Ltd. Yes No
Bajaj Allianz General Insurance Co Ltd Yes No
Bharti AXA General Insurance Co. Ltd. Yes No
Cholamandalam MS General Insurance Co. Ltd. Yes Yes
Edelweiss General Insurance Co. Ltd. Yes Yes
Future Generali India Insurance Co. Ltd. Yes Yes
Go Digit General Insurance Ltd Yes Yes
HDFC ERGO General Insurance Co.Ltd. Yes No
HDFC ERGO Health Insurance Limited Yes No
ICICI Lombard General Insurance Company Ltd Yes Yes
IFFCO Tokio General Insurance Co. Ltd. Yes Yes
Kotak Mahindra General Insurance Co. Ltd. Yes No
Liberty General Insurance Ltd. Yes No
Magma HDI General Insurance Co. Ltd. Yes No
ManipalCigna Health Insurance Company Limited Yes Yes
Max Bupa Health Insurance Co. Ltd Yes No
Navi General Insurance Ltd. Yes Yes
National Insurance Co. Ltd. Yes No
Raheja QBE General Insurance Co. Ltd. Yes No
Reliance General Insurance Co.Ltd Yes Yes
Care Health Insurance Co. Ltd Yes No
Royal Sundaram General Insurance Co. Ltd. Yes No
SBI General Insurance Co. Ltd. Yes No
Star Health & Allied Insurance Co.Ltd. Yes Yes
Tata AIG General Insurance Co. Ltd. Yes No
The New India Assurance Co. Ltd Yes No
The Oriental Insurance Co. Ltd. Yes Yes
United India Insurance Co. Ltd. Yes No
Universal Sompo General Insurance Co. Ltd. Yes Yes

Best Coronavirus Health Insurance Plans Based On Claim Settlement Ratio

Customers can pick between two short-term coronavirus health insurance options: Corona Kavach Policy and Corona Rakshak Policy.

Take a look at the top 5 Corona Kavach Policies and top 5 Corona Rakshak Policies listed below if you need to make a quick decision for your Covid-19 health insurance. Please note that the claim settlement ratio was used to rank the firms offering Corona Kavach Policies and top Corona Rakshak Policies, since CSR is one of the most important factors to consider when making a decision. For ranking reasons, the CSR for the fiscal year ending March 31, 2020 was taken into account.

Top 5 Corona Kavach Insurance Policies on the Basis of CSR for the Year 2019-2020

Health Insurance Company Claim Settlement Ratio
IFFCO Tokio 96.33%
Magma HDI 95.17%
New India Assurance 92.68%
Oriental Insurance 93.96%
Bajaj Allianz 92.24%

Top 5 Corona Rakshak Policies on the Basis of CSR for the Year 2019-2020

Health Insurance Company Claim Settlement Ratio
IFFCO Tokio 96.33%
Oriental Insurance 93.96%
Manipal Cigna 85.72%
Future Generali 82.96%
Navi (DHFL) Health Insurance 86.98%

How to Buy Coronavirus Health Insurance from InsuranceDekho?

A coronavirus insurance coverage can be purchased in two ways at InsuranceDekho: online or offline. Both steps are simple enough to complete in a short amount of time.

To purchase Corona mediclaim insurance online, simply follow the instructions below:

  1. Go to InsuranceDekho’s official website. Then select the ‘Health’ tab from the drop-down menu.
  2. Fill in your gender, as well as your name and phone number. On the number provided, you will receive an OTP (One Time Password). Please input that.
  3. Select an option from the drop-down box to tell us when you want to buy the policy. Then choose ‘View Quotes.’
  4. If you want to add family members to your COVID-19 insurance coverage, select them. After that, press the ‘Continue’ button.
  5. Decide on the ages of the family members you want to include.
  6.  Fill up your email address and city. Then select ‘Submit and View Quotes’ from the drop-down menu. On your screen, the most appropriate corona medical insurance policies will be displayed. Select the one you wish to buy by clicking on it.
  7. Choose the duration for which you wish to purchase the COVID insurance coverage you’ve narrowed down.
  8. Fill in the relevant information and pay online through a secure payment site.

If you are unable to get COVID insurance online, you can also purchase it offline. You will need to contact insuranceDekho’s customer service representatives on the toll-free number 7551-196-989 and express your requirements. You can reach the executives between the hours of 9:30 a.m. and 6:30 p.m. on any given day. They will assist you in finding the best corona insurance coverage for you and your family at a reasonable price.

Key Benefits of Coronavirus Health Insurance

Coronavirus health insurance policies come with a slew of advantages. Apart from the benefits of coverage, such as hospitalisation, pre-hospitalization, and post-hospitalization charges, one of the perks of these plans is the ease of premium payment. Because these are short-term policies, you are not obligated to pay health insurance premiums for the rest of your life.

It is necessary to have a conventional health insurance policy in addition to a Corona Kavach or Corona Rakshak policy for improved coverage. Please keep in mind that if a claim is made during the policy term of any Coronavirus health insurance policy, the existing health insurance policy’s No Claim Bonus will not affect it immediately.

What is Covered Under Coronavirus Health Insurance Policy?

The following medical expenses are covered by Coronavirus health insurance policies:

  • Hospitalisation Expenses: Coronavirus health insurance policies cover hospitalisation expenses arising due to COVID-19 if it exceeds more than 24 hours.
  • Quarantine Cover: COVID-19-specific health insurance coverage also cover those who are quarantined in government-designated facilities.
  • Additional Coverage: Some coronavirus-specific health insurance policies, such as those offered by Go Digit General Insurance Ltd, provide add-on coverage for an additional fee. For example, costs associated with alternative medicine (AYUSH), maternity benefits with newborn baby coverage, and so on.

What is Not Covered Under Coronavirus Health Insurance Policy?

Coronavirus health insurance policy does not offer cover against the following medical expenses:

  • Home Quarantine: Expenses incurred during the quarantine period spent at home are not covered under COVID-19 specific health insurance policies.
  • Non-recognized Quarantine Center: Medical expenses incurred when the insured is kept in quarantine at a non-recognized center for the treatment of COVID-19 are not covered.
  • Pre-Existing Diseases: Any expenses arising due to treatment of pre-existing illnesses are not covered until the waiting period is completed.
  • Hospitalization Without Doctor’s Recommendation: If the insured gets hospitalized without the recommendation of a qualified doctor as specified on the prescription, then he/she will not be covered for the expenses arising due to treatment.

Is Coronavirus Covered Under My Existing Health Insurance Policy?

Yes. Regardless of whose policy you buy, all general and health insurance firms are required by the Insurance Regulatory and Development Authority of India (IRDAI) to provide coronavirus coverage under their health insurance plans.

How to Make a Claim Under Coronavirus Insurance Plans?

The procedure for settling claims for coronavirus (COVID-19) health insurance plans is similar to that for conventional health insurance policies. There are two types of claims that can be submitted under coronavirus health insurance policies: cashless claims and reimbursement claims. Cashless claims are available if the therapy is received at a network hospital, as previously stated. Reimbursement treatment services, on the other hand, can be obtained even at a non-network hospital. Read on to learn more about the procedures for both:

  • Cashless Claims: Today, all insurance companies provide cashless treatment options. The procedure allows you to receive high-quality medical care without having to spend anything at the hospital. Even in stressful situations, it makes you feel at ease. To qualify for the benefit, all you have to do is seek treatment at a network hospital and notify your insurance company. After validating the information, the insurance company will pay the hospital immediately for the medical expense. However, before seeking treatment and filing a health insurance claim, check to see if your health insurance policy covers coronavirus therapy.
  • Reimbursement Claims: Medical treatment for coronavirus (COVID-19) at any non-network hospital is required for reimbursement claims. After informing the insurer, you will be forced to pay the bills out of pocket at the time of discharge. When you file a claim later, the insurance company deposits the funds into your bank account. The insurance company, on the other hand, will only settle the claim after validating medical bills and other papers.

Difference Between Social Distancing, Self-Isolation And Quarantine

Different ways to limiting the transmission of various pandemics and epidemics, including the new coronavirus, are described by the words social distancing, self-isolation, and quarantine. Read on to learn more about the differences between them:

Social Distancing Self-Isolation Quarantine
Staying indoors/at home to preserve space between yourself and other people outside your home to prevent the spread of disease is known as social distancing or physical distancing. It is recommended that you maintain a safe distance from individuals outside your home by staying at least 6 feet (2 metres) away and avoiding large gatherings. Even if you don’t have any signs of the sickness, keeping your distance from others involves no handshakes, hugs, or extra trips to the store. This aids in the prevention of possible transmissions from or to humans. Self-isolation refers to the separation of sick people from healthy people in order to prevent disease spread. Please keep in mind that self-isolation is recommended not only for individuals who have suspected signs of the disease, but also for those who have no symptoms but have been diagnosed with the condition. Even hospitals have isolation beds for COVID-19 patients who are really sick. Home isolation is indicated for people with mild symptoms. It occurs when a person stays at home or at a specific facility for 14 days after being exposed to someone who has symptoms or has been diagnosed with the disease. After the quarantine time is ended, those who have not developed any symptoms of the disease are released. It aids in the prevention of disease transmission from infected people before they become ill or show any symptoms.

Important Things to Consider When Buying Coronavirus Insurance Cover

There are a few things you should think about when purchasing a COVID-19 health insurance coverage. The following are some of them:

  1. Sum InsuredWhen a person is diagnosed with COVID-19, they may have a serious respiratory infection that affects their whole health. And, depending on whether or not someone has an underlying ailment, the therapy for it could be rather costly. As a result, when acquiring a COVID-19 health insurance policy, you must choose a sufficient quantity insured to ensure that you and your family are adequately covered in the event of an emergency.
  2. Coverage: Most COVID-19 health insurance policies cover in-patient hospitalisation, pre-hospitalization, post-hospitalization, road ambulance, and OPD charges, among other things. Look for as many coverage features as possible when choosing a COVID-health insurance policy for yourself and your family, so you don’t have to deal with any problems when it comes time to file a claim.
  3. Waiting Period: The waiting period is the time you must wait after purchasing a health insurance coverage before you can file a claim. The majority of COVID-19 health insurance plans have a 30-day initial waiting period, although others have shorter waiting periods of 16 or 15 days. So, before you buy any health insurance coverage, make sure to examine the waiting period.

Tips to Follow When Buying COVID-19 Insurance

Experts advise that when purchasing COVID insurance, one should exercise extreme caution. Here are some guidelines to follow in order to make the best and most educated decision possible when purchasing a Corona mediclaim coverage:

  1. 1. You should opt for a claim settlement process that is simple and speedy. Make certain that the insurance company you choose provides this coverage so that you or your family members are not inconvenienced in the event of an emergency.
  2. 2. Don’t forget to read over your corona mediclaim policy’s exclusions and limitations. It’s critical to grasp the policy’s contents so that you don’t run into any problems when it comes time to file a claim.
  3. 3. Review the list of network hospitals in India to avoid a last-minute rush to make decisions in an emergency. Make sure the hospital you choose is close to your home and has the resources to deal with any crises that may arise as a result of the new coronavirus.

Common Mistakes to Avoid When Buying COVID-19 Insurance

Choosing the correct COVID-19 insurance policy for yourself and your family is just as crucial as purchasing one during pandemic times. Here are some frequent blunders to avoid in order to make the best decision:

  1. Choosing insufficient cover: This is the most common mistake people make while purchasing COVID-19 health insurance coverage online. When the time comes, a health insurance plan with insufficient coverage may be useless. As a result, you should select a plan that provides sufficient coverage for all of the policy’s members.
  2. Overlooking the exclusions: We are more concerned with what an insurance company protects us for and overlook the exclusions. Knowing the exclusions, on the other hand, will help you prevent any discrepancies during the claim settlement process.
  3. Not reconsidering a different health insurance company: Various health insurance firms offer various health insurance plans with various coverage perks. Instead of shortlisting the first insurance company or health insurance plan you come across, research other insurers and comparable plans they provide, and compare them to find the best fit.
  4. Not sharing medical history: The last thing you want from your COVID-19 health insurance plan is a headache when it comes time to file a claim. To avoid a situation like this, it is recommended that you provide all relevant health information at the time of insurance acquisition. Otherwise, it may work against you at the time of claim settlement, rendering the coverage useless.

Common Symptoms of COVID-19

The following are some of the most common COVID-19 symptoms:

  • Fever
  • Cough
  • Shortness of breath
  • Fatigue
  • Sore throat
  • Breathing problem
  • Body ache
  • Headache
  • Chills, sometimes with shaking
  • Runny nose or congestion
  • Loss of taste or smell
  • Diarrhea
  • Nausea

COVID-19 can cause pneumonia, cardiac issues, respiratory disorders, septic shock, mortality, liver problems, and other complications. Cytokine release syndrome or a cytokine storm may be to blame for the complications. This occurs when an infection causes your immune system to release inflammatory proteins known as cytokines into your bloodstream. This can harm your organs and necessitate a lung transplant.

If you or a loved one experiences any of the following symptoms, it is essential that you get medical help:

  • Breathing problem
  • Continuous pain in the chest
  • Bluish lips or face
  • Unable to wake up completely
  • Confusion

People with COVID-19 have been documented to have strokes in some situations. In this scenario, keep in mind the acronym ‘FAST’:

  • Face: Examine the person’s face for numbness or drooping, as well as a lopsided smile.
  • Arms: If they try to raise both arms, see if one arm is weak or numb, or if one arm sags.
  • Speech: To see if they can talk properly, ask them to repeat a sentence.
  • Time: For anyone suffering from these symptoms, time is of the essence. As a result, you should not spend any time and seek medical help right now.

COVID-19 symptoms might appear anywhere from 2 to 14 days after exposure, depending on the individual.

Fever, weariness, cough, loss of appetite, body ache, shortness of breath, and phlegm are the most common COVID-19 symptoms, according to Chinese experts. Blood clots were also reported in the legs, arteries, and lungs in some persons.

How Can I Protect Myself From Coronavirus?

Take the following actions to protect yourself from Coronavirus:

  • Practice social distancing by maintaining a distance of at least 6 feet, or 2 metres, from individuals outside your home.
  • Stay away from markets, malls, and other places with inadequate ventilation.
  • Wash your hands frequently for at least 20 seconds with soap and water. If soap and water aren’t available, an alcohol-based hand sanitizer with at least 60% alcohol content can be used instead.
  • Use a face mask whenever you’re in a public place, especially if you can’t keep a safe distance from other people.
  • Keep your hands away from your eyes, nose, and mouth.
  • Cover your nose and mouth with a tissue anytime you sneeze or cough. After that, properly dispose of the tissue and wash your hands.
  • Clean surfaces that you touch on a daily basis, such as the table and chair, with a disinfectant.

What to Do if You Think You Are Infected?

If you live in or have traveled to a region where COVID-19 cases are active, you should read the following information carefully:

  • If you don’t feel well, stay at home. Even if you have minor symptoms like a headache, fever, or runny nose, you should not leave until you feel better. This allows doctors to focus more on those who are seriously ill, while also protecting healthcare personnel and reducing the risk to other people while traveling to the hospital.
  • If you’re having trouble breathing, see a doctor and follow his or her advice. You must get medical assistance as soon as possible.
  • Keep up with the latest COVID-19 news. It will teach you how to prevent the virus from spreading and how to care for yourself and your loved ones.

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