Considerations when Buying Insurance during COVID-19
11 November, 2022
8 Shares
155 Reads
Share
The COVID-19 pandemic has sent the entire world into a standstill and a state of shock. The flow of life has been disrupted and paused temporarily until a sure shot way to recover from the virus arrives. Getting a COVID-19 health insurance coverage is a wise step to take in this global public health crisis and devastation.
You need to keep the following factors in mind before choosing your coronavirus health insurance plan:
1. Claim Settlement Process
Before buying health insurance for coronavirus, make sure that the health insurer has a smooth and fast claim settlement process. If the claim settlement process of the health insurance company is not simple and quick, it will be difficult for you to get your claims approved on time to meet your medical emergencies. Hence, it is advisable that you go for an insurance company which has a high claims settlement ratio. Through IRDAI reports and customer reviews, you can gauge the claimssettlement track record of the health insurance company.
2. Network Hospitals
Network hospitals are the hospitals which are associated with a health insurance company. You need to ensure that your prospective health insurance company has tie-up with a large network of hospitals. The network hospitals should preferably be in proximity to your residence and should have the capacity to treat Coronavirus xe variant afflicted patients. You are eligible for cashless treatment of coronavirus only if you get treated at a network hospital associated with your health insurance provider.
3. Waiting Period Clause
All health insurance plans come with their own pre-determined waiting periods. Your treatment for coronavirus will be covered by the health insurance company only after the waiting period ends. Waiting period is calculated from the date of issue of policy and must be checked before availing a health insurance plan. Go for a coronavirus insurance plan which has the shortest waiting period.
4. Co-payment Clause
Check if there is any co-payment clause in the health insurance policy. If your health insurer is asking for co-payment, you will be responsible for paying a part of the medical expenses. If you want to get full coverage for your Coronavirus treatment, choose a coronavirus insurance plan, which does not have any co-payment clause.
5. Hospitalisation Requirements
If you are thinking of buying health insurance for Coronavirus, hospitalisation needs is one of the main things, which you need to consider. For instance, you need to check the amount of room rent expenses that your health insurance provider will cover. Hospitalisation is expensive mainly because of the high room rent cost. Thus, it is advisable to go for a health insurance company which covers 100% of the room rent.
There are various hospital expenses, which coronavirus treatment will incur. Some of them are:
● Ventilator expenses
● Room/bed rent
● Intensive Care Unit coverage
● Medicines and consumables
● Nursing charges
● Surgical supplies
● Oxygen cylinder, blood, and anesthesia
● Operation theatre expenses and more
You need to ensure that your coronavirus health insurance provider covers most if not all these hospital expenses before buying health insurance for coronavirus. Niva Bupa’s Corona Kavach plan, a coronavirus specific health insurance policy, covers the cost of hospitalisation upto Rs 5 lacs.
Apart from the above factors, you need to check whether your health insurance plan offers the following, while buying a coronavirus coverage:
Hospital Cash
You need a health insurance plan, which offers you the basic right to get the daily expenses of your treatment covered. This daily coverage should be included with the hospitalisation coverage, or available as a rider to your plan. You might be accompanying a COVID-19 patient and be in need of cash regularly to buy gloves, masks, syringes, and other medical requirements.
Tax Advantage
When you are purchasing a health insurance plan, you need to ensure that the plan offers you tax insurance rebate. The Section 80D of the Income Tax Act makes you eligible for tax benefits on availing a health insurance plan. In this tax saving scheme, you can show the expenses of purchasing a health insurance policy and get tax benefits on it.
Quarantine Coverage
Check whether your health insurance plan covers the expenses required in the quarantine period. The quarantine time period lasts 14 days after you are discharged from the hospital. Quarantine period covers major expenditure on health equipment like gloves, medicines, and food supplies. The Corona Kavach Plan offered by Niva Bupa covers these post-hospitalisation expenses.
Valuable Add-ons
You can choose to get additional services such as doctor on call and second opinion if you wish.
Conclusion
It would be smart to buy a coronavirus health insurance plan to secure yourself and your family against the ravages of the current pandemic. With the coronavirus infection spreading across the global population, densely populated nations such as India have reported the highest number of coronavirus cases. Hence, as an Indian, your family faces an intensified risk of infection. Have a look at the tips recommended by Niva Bupa to buy the best health insurance policy for coronavirus in order to protect your family from COVID-19.
Secure your Health with comprehensive insurance plans from Niva Bupa
Popular Searches - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Health Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance Plans - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance UK | Travel Insurance Germany | Travel Insurance Bali | Travel Insurance Vietnam | Travel Insurance Dubai | Travel Insurance Singapore | Schengen Travel Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
COVID - Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
14th Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.