The onset of the COVID-19 pandemic has made people realise the importance of a health insurance policy to fight the disease and meet the medical expenses. Read on to know more about the critical things to consider while buying COVID-19 health insurance.
There is no denying that health insurance is a must-have investment for all, and with the recent outbreak of the COVID-19 pandemic, it has become more critical than ever before. With the virus affecting our lives in one way or the other, you may have surely considered purchasing a COVID-19 health insurance plan to protect your family from the disease.
A health insurance plan plays a vital role in covering the treatment expenses. So, to ensure that you get the best plan, here are a few things you must consider while buying COVID-19 health insurance policy.
- When you are looking for the best health insurance plans to get coverage against COVID-19, first and foremost, you must ensure that you fall under the age bracket specified by the insurer. Most insurance companies in India provide insurance to adults aged between 18 to 65 years old.
- Once you are sure that you qualify for the buying the insurance from a specific insurer, you must then look for the sum insured of the plan and the premium for the same. It is paramount that you compare the plans from different insurance companies in terms of amenities provided, inclusions, pay out, and choose the one that has favourable conditions.
- When you are buying a health insurance plan that offers COVID-19 protection, it will help if you look for a lender that has a free cancellation policy. Some reputed insurers in India provide a free look-in period of 15 days to their customers. So, during the period if you think the plan does not suit your needs, you can cancel the policy without any obligations.
- Another critical thing to look for in the health insurance plan is transfer to the hospital through ambulance as it would come handy during an emergency.
- Before you sign the policy papers, make sure to check the insurer’s customer testimonials to ensure that the company offers an easy claim process so that you don’t have to go through complicated procedures while filing a claim.
- Remember, if you or any of your family members are tested positive for COVID-19, you would be quarantined for 14 days in the hospital for treatment, and once discharged, you must be in self-isolation for another 14 days. Thus, your insurance must cover both pre and post-hospitalisation expenses, including the test, masks, medicines, etc. Read the policy’s terms and conditions carefully before making a purchase decision.
- Today, some insurance companies offer free consultation facilities with experienced doctors to get assistance at any point for COVID-19 related treatment.
- To help the COVID-19 patients deal with the daily expenses like buying medicines, gloves, masks, etc. Some insurance companies offer daily cash benefits for a specific number of days. So, look for a health insurance plan that offers optimal daily cash benefit.
- All health insurance policies have specific exclusions. While buying a health insurance plan for COVID-19 look for a plan that has a small exclusions list so that you get maximum coverage.
Remember, in times like this when the risk of getting infected with COVID-19 is high, and it is paramount that you be proactive and take the necessary steps to protect your family from financial losses by purchasing a robust health insurance plan with COVID-19 cover. The sooner you buy a policy, the better.