The third wave of Covid-19 is expected to hit India now, and we need to be prepared to fight this pandemic. One must keep the financial strength healthy along with the physical and mental health in such times as no matter how many precautions a person takes, some things are unavoidable.
If there is one thing that the pandemic of Covid-19 has taught us, then it is that every one of us must invest in a good and reliable health insurance policy. Remember to renew and review the existing policy. Do not forget to take a fine print of the policy documents with mentioned details about the exclusions, waiting period, claims and rejections.
It is necessary that you invest in a health insurance policy that covers you specifically against the cost of Coronavirus medical emergencies and will also provide ease to the policyholder’s dependents. Here you can choose to go with a comprehensive policy option which is the most suggested option, or you can go with a short-term Covid-specific cover, which comes with Corona Kavach and Corona Rakshak.
Different options under health cover
Comprehensive health insurance covers are suggested as the ideal covers for everyone, though a person can also go for standard health insurance covers that come with short-term COVID-19 specific covers. Almost all health insurance companies in India offer the standard health insurance policy Arogya Sanjeevani.
The eligibility to buy this health insurance policy is the person applying should be between the age of 18 years to 60 years. The maximum coverage provided is up to ₹5 lakh. It covers the cost of hospitalisation along with the sub-limit for the rent of the room. One can renew the policy for life.
What should you look for while choosing a health insurance policy for COVID-19?
COVID-19 patients need intensive health care facilities. Thus, it is very important that the health insurance policy you choose covers the following features.
- High sum insured amount – To start with, a standard health insurance policy with a sum insured amount of ₹3-5 lakh is good. Considering the number of dependants, choose a policy with fixed benefit add-on cover. This will ensure the co-payment and deductible requirements. The Covid testing at private hospitals comes at a little expensive cost. Thus, a high sum insured amount can be helpful in many ways.
- Extended hospitalisation cover – There is no specific time that can be predicted about the recovery of a Covid patient. One must be prepared to bear the extended hospitalisation cost. By opting for a health insurance policy that covers extended hospital fees, a person can avoid inflated bills.
- Vaccination and Follow-up tests cost – There are various vaccines available all over India currently. There are government centres that provide free vaccines to some people depending on the criteria mentioned by the state government. There are many private organizations and health care institutes providing paid vaccination.
A health insurancepolicy that covers vaccination costs can be helpful to get vaccinated at such centres. In case you have recovered from Covid recently, there are various follow-up tests that must be done as it affects your overall functioning of the body. A health insurance policy covering these costs can be a great aid to you.
- Compensate loss of income – A prolonged hospitalisation means loss of income for that period of time. As an individual with dependants, you should make sure that the health insurance cover you choose takes care of the cost of medical expenses without causing any financial burden on your family.
- Coverage for the entire family – Coronavirus is a highly infectious virus that spreads across the people the infected person comes in contact with. To keep your family financially covered against the cost of coronavirus treatment, it is advisable to take a floater plan that will cover your entire family’s cost of treatment.
