Corona Virus Health Insurance Corps – The Coronavirus outbreak (COVID-19) has been in the news for some time. With the spread of the virus to hundreds of Indians every day, it has become a major concern for a densely populated nation like ours.
We are also aware of the fact that so far there is no cure for the virus, which means that the better we prepare, the better!
In addition to following basic hygiene and social distance practices, talking about preparations is a health insurance plan. That is why IRDAI has asked insurance companies in India to cover coronavirus disease.
And insurers have launched health insurance plans dedicated to the coronavirus and can avoid all costs related to treatment against Code 19. These projects include the proponent and his family members.
There are a few things to keep in mind if you are also taking the wise step of purchasing Corona Virus health insurance online. A low-premium plan doesn’t always need to work for you, as they may not provide adequate coverage when needed.
So to solve this dilemma, what to consider when selecting Corona Virus health insurance.
7 things to consider before buying: Coronavirus health insurance.
You should know that ineffective treatment for coronavirus can only be obtained at network hospitals. Contracts with an insurer. Therefore, before selecting any plan for the coronavirus, make sure you are knowledgeable about the insurance company’s hospital network. The hospital must be near you and able to offer you treatment for the coronavirus.
Waiting period clause:
Coronavirus health insurance plans come with an initial waiting period after which only treatment for the disease will be covered. The waiting period is calculated from the date the account is issued and varies from the insurer.
Read all the features of the project carefully. Find out or ask the insurance provider if there is a copayment clause in the policy.
The copayment is when the insurer has to pay one percent of the claim amount out of pocket and the insurer pays the rest. This percentage is agreed by both the insurance company and the insurance company. If you do not comply with this clause in your policy, you must pay this amount so that the policy does not offer full coverage. Therefore, look for a Corona Virus health insurance policy that does not have a copayment clause for full coverage.
Settlement claim process:
Before purchasing Corona Virus health insurance, familiarize yourself with the claims settlement process for a particular health insurance company. Make sure the process is quick and easy. Otherwise, it may be difficult for you to get timely approval of your claim in an emergency.
Each insurer offers some additional features or services to provide better value to customers. Therefore, before investing in any Coronavirus health insurance, learn about the value-added services offered. It can be a serious illness caused by a sudden accident or extra money hospitalized to be admitted at no cost. Newborn Cover Ambulance Covers etc.
About insurance companies:
Be aware that health insurance companies with low claims settlement rates can be a problem. Also, consider the claimant ratio to assess the insurer’s financial health, and similarly, if you file a claim, you may or may not pay your claim.
Other matters to consider:
It is as important to read the costs of the plan as it is to consider the above before purchasing health insurance against the Coronavirus. This helps you understand the limits of the project. Coronavirus health insurance plans generally do not offer coverage in the following cases.
If hospitalization is not necessary.
If the insured has a disease other than coronavirus.
If a claim is made while waiting or before the policy is issued.
If you have been in a foreign country since December 31, 2019.
If the claim is filed by an insurance company outside India.
If the test result is negative for coronavirus.
If medical reports are not issued by a government-authorized center.
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