This Indemnity-Cased Coronavirus Health Insurance Covers PPE Cost. Should You Buy?
The Insurance Regulatory and Development Authority of India (IRDAI) has directed all general and health insurance companies to mandatorily offer a Covid-19 standard health insurance policy by July 15, 2020. This will be a standard health insurance policy for individuals and families which will provide coverage of up to Rs 5 lakh for hospitalisation expenses related to Covid-19. The policy will cover consumables such as PPE Kit, gloves, mask and other similar expenses used for the treatment of the coronavirus.
The base cover of the Covid-19 Standard Health Policy will be offered on an ’indemnity’ basis whereas the optional cover will be made available on a ’benefit’ basis.The policy will be named Covid-19 Standard Health policy, succeeded by the name of the insurance company. These are the five key features of the standard coronavirus policy:
So, should you buy a Covid-19 Standard Health Insurance policy? Read on to find out more about this health cover.Here are 10 important things you should know about the indemnity-based Covid-19 Standard Health Policy, as per IRDAI:
Source : Economic Times