Each of us has memories of years gone by, memories that are made up of the good and the bad. Life is like a roller-coaster ride with something to learn from each day. Everyone is about to celebrate the arrival of 2020 with great pomp and gusto, but sadly, the year hasn’t been going well so far.
We’re only in the fifth month of 2020, suddenly freedom seems like a huge advantage to us☺. We are still free citizens of India but Coronavirus is forcing most of us to stay indoors. India has been in a nationwide lockdown since the 25thth March to prevent the spread of the COVID-19 pandemic.
The worrying part is that cases are growing exponentially every day with many positive COVID-19 patients showing symptoms asymptomatic.
People who have been out for weeks have started mental health issues like panic attacks & anxiety out of fear of catching the virus. As said, worry is not the answer to any problem, so it is better to stop worrying and start acting against that fear.
In addition to taking precautions to prevent COVID-19, it’s important to keep yourself and your loved ones safe by voting COVID-19 Health Insurance. Many naysayers still believe that health insurance is pointless and that is the main reason they don’t choose any type of health insurance.
The COVID-19 pandemic is a wake-up call to all of these people because the pandemic has accelerated COVID-19 Health Insurance requirements.
Even if you lead a healthy life, it is better to protect yourself and your family members under a good health insurance plan. Senior citizens and people with weakened immune systems are more susceptible to the virus and it is especially important to get them covered by health insurance.
COVID-19 Health Insurance is a necessity nowadays as more and more people search online for “Insurance Packages for Covid-19”, “Insurance Packages for COVID-19”, “Advantages of COVID-19 Health Insurance”, and more. The insurance regulator – IRDAI (Insurance Regulatory and Development Authority) is taking several steps to ease the financial burden that many people face during these difficult times.
IRDAI has recently started giving existing insurance policyholders more time to pay their premiums (Source). As the Indian economy, as well as the world economy collapses due to COVID-19, these steps will reduce the pressure on existing policyholders. Apart from that, it will also increase the confidence in the people who will further be encouraged to invest in a good health insurance plan.
Here are some of the main reasons why COVID-19 insurance is a must have now:
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Buy for yourself, family and parents
Most insurance providers offer additional Coronavirus Health Insurance on existing policies. This policy is available to persons aged between 18 and 75 years. You have to protect your parents and other senior dependents in your family as they fall into the high risk category due to their growing age.
Family Floater Health Insurance Plan from Royal Sundaram General Insurance is a policy that provides coverage for several generations in one policy. This is one of the most comprehensive health insurance policies that is perfect for large families.
This plan offers a rich NCB (No Claim Bonus) which helps keep your policy inflation proof. Another positive thing about this policy is that children over 91 days of age can also be covered.
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Cover for costs incurred for COVID-19 testing and hospitalization
Not many people know that a COVID-19 test at an authorized private hospital costs around Rs. 4,500. Because COVID-19 is a viral disease, even if one person in a family is infected, it can spread to other people in the family & surroundings. While we always want no one to get infected with the Corona virus, some circumstances are beyond our control.
In addition to the money spent on a COVID-19 diagnostic test, you may need to spend money on quarantine (if you test positive) at a government-approved hospital. This fee can reach Rs. 10,000 per person. There are consultation fees, pre-hospitalization, post-hospitalization fees, ambulance fees, etc. Which can make a hole in your pocket.
COVID-19 Health Insurance from a reputed provider like Royal Sundaram General Insurance will cover all these expenses under the health insurance plan.
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Protection from COVID-19 until April 2021
It is good to admit that these are unprecedented times and we will have to live with the virus, until a vaccine is not available. There are fears of reemergence, relapse, and case increases over the June-July timeframe (Source).
Even if there is a second wave of infections in late 2020 or early 2021, COVID-19 health insurance coverage will be useful to cover your medical expenses incurred for COVID-19 related tests and hospitalization.
Wrap it up
With COVID-19, people are aware of their priorities and investing in areas they should have done long before. Health Insurance is one of them. Many people think that health insurance is only for those who are sick or frequently visit the doctor for examinations & treatment.
That is a completely wrong notion and the COVID-19 pandemic will only help bring more Indians into health insurance coverage.
