Covid-19, also known as novel corona virus, has taken the world by storm. What began in China’s Wuhan has now cast its shadow in more than 100 countries, including India. As on 9 March, India reported 45 confirmed cases of corona virus, causing widespread panic. While several advisories are floating around on prevention, will your health insurance cover it if you indeed happen to get infected?
For now, the Insurance Regulatory and Development Authority of India (Irdai) has taken immediate measures. On 4 March, IRDAI said all corona virus-related claims shall be expeditiously handled and all expenses incurred during the course of treatment, including during the quarantine period, shall be covered by all insurers. However, infectious diseases are not covered for the first 30 days from the inception of the policy.
However, if corona virus is declared a pandemic, health insurance may not cover the expenses. Further, does it make sense to buy corona virus-specific policies?
Above are some of the questions which have aroused in every one’s mind. Even for those who don’t have any ailment
The havoc wrought by the corona virus is now there for all to see. India, after staying relatively unscathed for a while, is finally witnessing the dread setting in. This actually has created a situation of lockdown in the country. Now we have time to spend with our family, talk to friends, be on online courses, face book, twitter, instagram and so on.
However this is a very right time to know and analyse the financial portfolio of self. The protection planning, wealth creation and so on. Currently anyway the market is very volatile hence we should stay calm and let the market stable and then analyse our wealth creation. But important is, are we enough covered under protection planning. What if something happens to the only bread earner of the family? What if a member of family has an emergency health problem? What about the after retirement?
These things can be analysed with a cool mind as we are lockdown at home. Take out your protection portfolio. Check all the coverage’s and if anything missing. Connect to you advisor and so on.
The important question if I want to avail any of the health insurances, and as it is completely lockdown how I can insure myself and my family.
Nothing to be panicked, consult your advisor. Know the insurance terms condition, premium details and any clarify any question if you have. Rest everything can be done online and secured.
We can purchase Pension Plan, Mediclaim, Term Insurance, Critical illness Plan, General Insurance and any kind of insurance online. No physical presence required. You require to jus give the details and requirement. Documents can be shared through whatsapp. Premium payment link will be shared online. You can pay the premium online, with debit, credit card, net banking or any other online platform. Once the premium is paid you will get the policy online.
So it’s very easy to purchase insurance policy, however it take time to analyze the portfolio. Hence consult your advisor and insure yourself in a proper manner
