As the number of Covid-19 positive cases keep increasing in India, the most crucial thing on our minds today is staying prepared for all eventualities. Apart from the practices of mask-wearing, handwashing, sanitising, and physical distancing, there is one more thing that everyone must consider when looking out for their safety.
The best way to go about this is to get or update your medical insurance plan. Health care insurance is truly the need of the hour now, especially with unpredictable situations making their appearance. It is even better to opt for medical insurance plans that are designed with coronavirus treatment in mind.
But before you purchase your health care insurance, there are few factors you should know about and consider while making your decision. For example, the Insurance Regulatory Development Authority of India (IRDAI) put out a mandate in the beginning of March 2020 stating that all insurance providers are required to give coverage for coronavirus as part of their existing medical insurance plans. This means that you have cover for coronavirus related expenses in case you already have health care insurance.
Alongside this mandate, IRDAI has also helped curate 2 standard medical insurance plans with regards to coronavirus. These are started indemnity plans called Corona Kavach Policy and Corona Rakshak Policy. To help you make the best decision for the safety of you and your loved ones, here are the most important factors you need to look into before purchasing your coronavirus health care insurance.
Compare Plans & Choose The Coverage That Matches Your Needs
There are a number of underlying factors that should influence your purchase decision. According to some medical experts, the threat of coronavirus could remain with us for a long time. Additionally, the rate of infection spread in your city or region, and your family members is also something you need to consider. These factors will help you decide the tenure of the health care insurance. There are a number of medical insurance plans that are available for the time period of 3.5, 6.5 and 9.5 months
1). Take Into Account Senior Citizens Or Children At Home
If you are living with senior citizens or children at home, you may need to opt for family health insurance plans. You could choose Corona Kavach for your family. This package allows you to opt for cover for upto two adults and four children. If you don’t have any senior-citizen responsibilities or dependents and are single, you could opt for one of the individual health insurance plans.
2). Don’t Forget About Homecare Treatment
Not every case of Covid-19 positive patients results in hospitalization. There are also many cases where the patient has been unable to get room in hospitals owing to shortage of beds. That is why it is crucial to check for plans offering provision for homecare treatment as part of your health care insurance. Corona Kavach is one such medical insurance plan that offers this option for both individual and family packages.
3). Check For Network Hospitals
Network Hospitals are those certified medicare centres that insurance companies partner with for ease of convenience. The biggest advantage of these network hospitals is that cashless coverage is activated with them. This makes the process of checking into the hospitals and seeking claims much easier.
4). Check For Inclusions
Treatment for coronavirus comprises a range of services, not just the actual medical treatment plan. There are also factors like room rent, nursing expenses, ICU/ICCU, doctor fees and costs towards diagnostics, OT charges, surgical appliances, drugs, even PPE kits, gloves and masks, among other such expenses. That is why while purchasing health care insurance with regards to Covid-19, you should look carefully into what inclusions are provided for in the plan. There are a number of advantages to buying coronavirus insurance which may or may not be offered in all other medical insurance plans.
With such uncertain situations arising everyday, it is always good to be prepared and stay ahead of the curve. This means buying health care insurance policies that ensure financial security so you and your loved ones have one less thing to worry about in an emergency. If you need to learn more about coronavirus insurance policies, head to Coverfox - one of India’s leading insurance broking portals. Here you can get assistance from a team of insurance experts to explore plans by more than 40 insurance companies and make the best decision for your needs.
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