Coronavirus Health Insurance Cover

The coronavirus outbreak has changed the course of our lives in many different aspects. It not only has put a halt on our tedious everyday commute but has also given us a much-needed perspective on life. While the entire world is in lockdown due to this deadly virus, including India, people are forced to think and be prepared for unfavourable circumstances.

Important Update (Dated May 30, 2024) – Good news for Health Insurance policyholders! According to the Master Circular on Health Insurance Business 29052024 rolled out on May 29, 2024 by IRDAI, insurers are to decide on the request for cashless claims within 1 hour of receiving the request. Also, the final claim is to be granted within 3 hours after the policyholder’s discharge from the hospital. Insurers have been directed by IRDAI to establish necessary systems and procedures for this process by July 31, 2024.

 

The Master Circular on Health Insurance Business 29052024 circular is available here - https://irdai.gov.in/document-detail?documentId=4942918

The financial burden that follows this virus is another very crucial factor to be dealt with. For those infected by the novel coronavirus disease, having bought a health insurance plan in advance has truly paid off for them. Amid all the chaos and rising medical contingencies, many people are still doubtful of whether their health insurance covers coronavirus.

To put your mind at peace, know that plans such as the Bajaj Allianz Health Insurance Plans available on Finserv MARKETS cover COVID-19 testing and treatment expenses. But before we dive deep into the subject, let us first get an overview of what this disease is.

What is Coronavirus?

The novel coronavirus (COVID-19) is a virus that attacks the immune system of humans. It further contributes to conditions ranging from the common cold to Severe Acute Respiratory Syndrome (SARS). The virus originated in Wuhan, China, in late December 2019, and has spread across the globe like wildfire.

It mainly causes infection in the nose, upper throat, and sinuses. In extreme cases, it leads to respiratory illnesses such as pneumonia, kidney failure, and other organ failures. The coronavirus disease has proven to be fatal for people over 60 years of age and those with pre-existing illnesses.

What is Coronavirus Health Insurance?

The coronavirus health insurance or coronavirus insurance is an insurance that covers COVID-19 related medical expenses. It covers hospitalisation costs, testing, and treatment expenses of the insured individual.

Most health insurance policies cover hospitalisation expenses incurred during the treatment of a viral infection. Since coronavirus is a viral infection, having a comprehensive health insurance plan will ensure that all the COVID-19 related medical costs are covered.

The coronavirus health insurance coverage starts from the date you are diagnosed with the disease. Also, since this disease is a newly found infection, it does not fall under the category of pre-existing illnesses.

What Is Covered Under Coronavirus Insurance?

The following table will help you understand the coverage of health insurance for coronavirus disease.

Essential Cover	Standard Cover	Add-On Cover
Hospitalisation expenses Pre-hospitalisation expenses Critical illness hospitalisation cover Accidental hospitalisation Daycare expenses`	Road ambulance expenses ICU room rent Organ donor expenses Daily hospital cash Home hospitalisation Post-hospitalisation expenses Alternative treatment expenses Recovery benefit	Maternity benefit with newborn coverage

What is not Covered under Coronavirus Insurance?

The health insurance for coronavirus does not cover the following things –

• The policy does not cover expenses incurred during the home quarantine period

• In case you are kept in quarantine at a non-recognised centre for the coronavirus treatment, the medical costs incurred during your time there is not covered under the plan

• Any medical costs incurred in the treatment for pre-existing ailments is not covered under the policy unless the waiting period is served

• If you are hospitalised without a certified doctor’s recommendation, the hospitalisation costs incurred will not be covered under the policy

How to Claim Health Insurance for Coronavirus?

Claiming on your Bajaj Allianz Health Insurance plans for coronavirus at Finserv MARKETS is quite straightforward. Just follow these simple steps –

1. Register your claim online

2. Upload the necessary documents

3. The insurer will assess your claim application

4. You can check the claim status online

Is Coronavirus Covered by your Regular Health Insurance Plan?

As per a memorandum issued by the Insurance Regulatory and Development Authority of India (IRDAI), all the health insurance providers should cover coronavirus hospitalisation and treatments expenses. Since this a newly discovered ailment, it cannot be categorised as a pre-existing disease.

In simple terms, if you have already purchased a health insurance plan, it will cover you for coronavirus treatment in case you test positive for it. You will be offered adequate coverage needed during this tough time, which includes in-patient treatment, pre- and post-hospitalisation expenses, and expenses incurred for other tests and diagnosis.

So, if you do not have health insurance yet, browse Bajaj Allianz Health Insurance Plans at Finserv MARKETS. Check the premium charged, the coverage of the policy, exclusions, etc. before you buy the policy. Once you find a plan that fulfils your medical and financial necessities, you can proceed to buy it.