Coronavirus Outbreak: Are You Protected Against the Deadly Disease?

In the purview of the rising concerns of the ‘Coronavirus’ outbreak that has claimed more than 170 lives in China and the threat spreading around the world, one of the concerns people have is if their insurance policy will cover the disease. With the first case of Coronavirus reported in Kerala on January 30, the danger of the disease is imminent in India. In such a situation, you must know how you can stay protected with an insurance cover.

What is Coronavirus

According to the Health Ministry of India, Coronavirus is a type of virus that contains strains that have that the potential to cause deadly disease ranging from the common cold to severe conditions such as Middle East Respiratory Syndrome (MERS-CoV) among mammals and birds.

The disease has symptoms similar to a common cold that typically affects the upper respiratory tract of a person. General symptoms include cold, cough, fever and a mild headache. If the fever lasts for more two days, it is advisable to get treatment immediately. Today, some of the leading insurance companies in India like IFFCO-Tokio cover the disease under their health insurance plan. A health insurance policy can help you get the necessary financial support for your pre and post-hospitalisation needs.

What are the health policies for offering protection against the disease?

Coronavirus has spread to more than 24 countries and the World Health Organization (WHO) has declared the crisis a global health emergency. You must take the necessary steps in advance by investing in a health policy that assures your financial protection in such a crisis. Below are some of the type of health insurance policies that offer security at the time of severe unexpected illness like Coronavirus.

• Family health insurance
• Individual health insurance
• Critical illness insurance

Benefits of Health Insurance for Corona Virus patients

The features and benefits vary depending on the insurance plan you choose. However, below are some of the common benefits you can avail:

Pre & Post hospitalisation charges

Since the Coronavirus is not a pre-existing condition, you can claim for Pre & Post-hospitalisation charges. In case you’re not admitted to the hospital, you can make use of a pre-hospitalisation feature that covers expenses related to check-ups and diagnosis to ensure virus detection. The post-hospitalisation will offer financial cover once you have taken a discharge. Some insurance companies let you claim for expenses related to follow-up visits.

Daily Cash Allowance

If you need hospitalisation, the day-to-day expenses related to transportation, food or prescriptions bills can take a toll on your financial condition. However, a health insurance policy will help you stay stress-free by allotting you a fixed daily cash allowance to make ends meet.

Critical Illness

The outbreak of coronavirus infections is a global emergency that is said to rise, according to many health reports. Health insurance companies are treating the virus as a life-threatening condition. If you have selected critical illness as a rider option under your individual or family health insurance, then you are eligible to claim for the disease.

Claim settlement

If you or any member of your family is diagnosed with Coronavirus, you can claim through cashless process or through reimbursement.

A cashless claim is wherein you can treatment without any cost incurred as the insurance company directly settles the bills with the hospital.However, you should seek treatment from the insurance company’s network hospital.

Under the reimbursement plan, you need to pay for the treatment of the disease from your pocket and then claim the amount upon discharge. Remember, you submit original copies of hospital bills, discharge summary and other documents to the insurance company for the claim settlement.

Prevention before cure

As of now, there is no vaccine to cure Coronavirus; intensive care at hospitals is the only way to seek treatment. You never know when the disease could strike you or your loved ones. A health insurance policy lets you be prepared by covering the unexpected medical costs and offering preventive care like vaccines, follow-ups and screenings without incurring any cost. Hence,to tackle such diseases, it is a must that you’re well prepared with a health plan that not just takes care of the expenses but also takes away the financial stress to some extent.