Novel Coronavirus or COVID-19 which spread rapidly during 2020 has affected everyone in one way or the other. It consumed millions of lives in a very short period. During this time the insurance companies around the world brought various customized family or personal health insurance plans. Coronavirus health insurance plans are made keeping in mind the hospitalization (both pre and post) and other medical expenses during its treatment. But with so many policies available it is very difficult to choose the right one.
Some points must be considered while selecting the best health insurance policy against coronavirus:
- Amount Insured:While choosing a policy you must always know the sum insured by the insurance company. Approximately all the insurance companies provide minimum coverage of 2 lakh against the coronavirus. The individual must examine if the insured sum can cover all the treatment that can incur during hospitalization.
- Network Hospitals:An individual must choose a health insurance company that has a large network of hospitals on their list. This ensures a hassle-free treatment as there are more hospitals available. one should always keep in mind that the list of hospitals under an insurer is revised every year. Therefore, you have to always check those good hospitals are on that list while taking the policy.
- Cost of the policy:The most important factor is the cost of the policy and the benefits it provides with it. You have to buy a health insurance policy that is both affordable and also provides better health coverage. You should always go for a pocket-friendly premium that does not charge you a huge load of money.
- Claim Settlement Ratio:One must always choose an insurance company that has a high percentage of claim settlement ratio (CSR). It shows the ability of a particular insurance company about their claim settlement abilities. The higher the claim settlement ratio, the more satisfied the insurance holder will be. One of them is Care health insurance which provides both health as well as Mediclaim health insurance against coronavirus.
With millions affected all over the world, including India, coronavirus is still deadly even after the development of the vaccine. There are two main coronavirus insurance policies, namely “Corona Kavach Policy” and “Corona Rakshak policy”.
- Corona Kavach policy: It is a single premium health insurance policy that covers all the pre and post-hospitalization expenses. This insurance policy can be availed for a period of 3.5 months, 6.5 months, and 9.5 months and can provide insurance for both an individual as well as a family.
- Corona Rakshak Policy: It is a standard insurance policy that covers all the expenses against the coronavirus treatment. The Corona Rakshak Policy is a benefit-based insurance policy that provides the policyholder with a lump sum amount of up to 100% in multiples of 50,000 depending upon your premium amount.
As the coronavirus continues its impact all around the world and the vaccination process is a time taking process, it is a wise move to get a health insurance policy against coronavirus.