In India, where COVID-19 cases continue to multiply, taking necessary precautions to ensure the safety of your health and wealth has become essential. For the same reasons, the importance of health insurance policy has increased as it offers financial protection against medical urgencies. Buying COVID-19 health insurance plans are nearly as important as maintaining your hygiene. They offer various monetary benefits against the high treatment costs of COVID-19 virus for whom no vaccine has been developed till date.
A coronavirus health insurance policy helps you ensure that you do not end up draining your savings during medical emergencies. However, you must make sure that your plan offers comprehensive coverage, including multiple benefits.
- Extended Hospitalization Cover
Viral diseases like COVID-19 may allow a patient to be held-in for many days or weeks under medical observation. In an emergency, you can avoid high medical costs with extended hospitalization cover offered under comprehensive health insurance plans.
- High Sum Insured
COVID-19 had its outbreak in the city of Wuhan, China last year that saw its global spread only the in early weeks of 2020. No vaccine has been developed to date as the virus seems to modify itself as it travels to different countries. All such factors are contributing to the high costs of treatment. Health insurance plans with high sum insured are helpful in such cases that help save your financial wellbeing.
- Vaccination Cover
No official vaccine for the COVID-19 virus has yet been discovered. The researchers across the world are trying their best to come up with vaccination for its successful treatment. Meanwhile, health insurance plans with COVID-19 are offering a vaccination cover so that you are covered for any possible coronavirus vaccines.
- Follow-Up Tests
Most patients are considered COVID-19 virus-free only when they have two consecutive negative tests. Also, reports indicate that even after the patient has completely recovered the COVID-19 virus might return. In this situation, patients will be insured for follow-up, especially if they are at risk of contracting the virus again.
- Coverage for The Entire Family
It is crucial to consider the possibility of community spread due to the infected person coming in contact with their immediate family, neighbors, and community members. A family floater package can offer an added benefit with low sub-limits on pre- and post-hospitalization expenses.
Few other factors you can consider when buying a health insurance plan with COVID-19:
- Sum Insured
We know COVID-19 can lead to severe respiratory disease and influences the overall functioning of the body. Hence, its treatment can be costly, particularly for people with underlying conditions. Therefore, choosing a higher sum insured amount for coronavirus health insurance plans is best so that you are sufficiently compensated for individual circumstances.
- Coverage
When you are choosing health insurance plans, it is necessary to go through the coverage offered by your insurer carefully. Most COVID-19 health policies provide cover for hospitalization costs, pre & post-hospitalization treatment, ICU fees, OPD fees, and ambulance fees.
- Waiting Period
It is necessary to know about the built-in waiting periods under the policy when buying a coronavirus health insurance plan. Usually, all health insurance plans have a 30 days waiting period. During this period, none of the claims you make will be covered. Hence, make sure that you check the initial waiting time before purchasing your policy.
Secure Your Family with a Health Insurance Plan
The safety of you and your family is essential during the ongoing pandemic. Health insurance can be helpful in medical emergencies. You can buy it from reputable insurers like Tata AIG that offer comprehensive health insurance plans. They have a national network of affiliated hospitals for cashless treatment with a high claim settlement ratio. You can also take help from their reliable customer support that is available 24*7 to get you through every step.