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The COVID-19 pandemic has raised a terror-scene across the length and breadth of the globe. Amidst all this, the biggest concern that hits every individual is whether their existing health insurance plans would cover medical expenses related to this fatal disease or not.
Providing much relief to their policyholders, Star Health Insurance has clarified recently in a leading publication that all their health insurance policies would henceforth cover COVID-19. This includes the ones taken out even before the outbreak of this disastrous disease started.
Star Health Insurance is an insurance company in India that came into existence and operation in the year 2006. Since then, it has provided sterling services in the health sector, and now it covers all its valued customers against COVID-19. The Star Health Insurance company announced this after the Insurance Regulatory and Development Authority of India (IRDAI) declarative. Not only Star Health Insurance, but all other insurance companies must provide cover for COVID-19 with immediate effect in the interest of public safety as ordered by IRDAI through its circular.
As such, Star Health Insurance has launched a special and unique policy that exclusively covers coronavirus and stands by the insured like a true friend right from the start till the end.
The Star Novel Coronavirus (nCoV) COVID-19 Insurance Policy is an affordable healthcare plan released specially for the COVID-19 pandemic. Under this pilot product by Star Health Insurance, a lump sum benefit would be provided to the person who gets admitted into the hospital on account of being tested positive with the novel coronavirus.
During the policy period, if the beneficiary is diagnosed with COVID-19, the assured sum would be dispensed by Star Health Insurance for his treatment. However, it should be noted that:
The Star Health Insurance company refuses to be liable to pay in the following aspects:
Free Lock Period:
The insured would be given 15 days from the date on which he receives the Star Health Insurance policy to review its terms and conditions and surrender or return it if it is not acceptable to them. During this period, if there have been no claims by the insured, they would be entitled to the following benefits:
Disclosure to Information Norms:
Star Health Insurance would be liable to forfeit the paid amount of premium and declare the policy null and void in case there is a non-disclosure of facts, misrepresentation, or fraudulent documents that have been submitted by the insured.
This is a pilot product. This means the Star Health Insurance company may withdraw this policy anytime it finds it unviable to continue.
Waiting Period: 16 days
To establish the claim made, the insured person should fill up and submit the signed claim form, along with the relevant documents. The claim should be confirmed within 15 days of receiving the notification. The required documents may include the following:
Under Section 80D of the Income Tax Act, 1961, a tax rebate is applicable to the insured when the premium amount is paid by any other mode except cash.
**Advantages of the Star Health Insurance Policy:**
The significant advantages of choosing this health policy with Star Health Insurance is that:
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