Coronavirus Disease 2019 (COVID-19) or SARS-Cov-2 is a pandemic that started plaguing the world in 2019. Every human being on earth felt affected in one way or another because of coronavirus. The lack of cure and slow vaccination surged the number of patients worldwide.
Without a proper solution, people can only resort to precautions to stay safe from the disease. But if precautions fail, they can contact the virus and need hospitalization and treatment. The costs of coronavirus treatment are too high because of several medicines and medical equipment. Hence, coronavirus insurance is an excellent way to ensure the expenses of coronavirus treatment.
Coronavirus Insurance: A Way to Fight the Deadly Virus
Insurance providers have two types of coronavirus insurance plans. A general health insurance plan has coronavirus disease as an add-on, and the other is an independent coronavirus insurance plan. These policies came as a relief to several people who were suffering due to the effects of this disease.
Coronavirus insurance helps people bear the expenses of coronavirus treatment at hospitals or homes. They can also use this money for the related charges of medicines, personal medical equipment, ambulance transportation, and quarantine homes. People started investing more money into medical plans with coronavirus insurance because of its several advantages. The given below is a brief description of the benefits of coronavirus insurance.
Benefits Of Coronavirus Insurance
- Health Coverage for Hospitalization
One of the most significant reliefs of having coronavirus insurance is that the insurance company will bear the hospitalization expenses. The policyholder will not have to rely on personal savings or other sources to meet this urgent requirement. Several major insurance companies like Care Health Insurance give the insured person complete hospitalization coverage.
- Home Treatment Expenses
In the case of coronavirus, some people only develop mild symptoms or have no symptoms at all and don’t need hospitalization. These people, however, need home treatment, and there are several undocumented expenses in it. The best coronavirus insurance policies have provisions to give the insured person a definite sum of money as reimbursement.
- Laboratory And Testing Costs
No matter where the patient admits themselves, they will require some basic tests and reports. These tests include coronavirus tests, body scanning, lugs X-rays, and blood tests. All these procedures cost a lot of money which is claimable under coronavirus insurance. Coronavirus insurance will pay for or reimburse the testing expenses associated with coronavirus disease.
- Medicine Costs
Other extra expenses during coronavirus infection are medicines. The medicines are too costly, and the expenses keep increasing with the duration of illness in the patient. Coronavirus insurance covers all the charges of medicine costs. It helps provide a patient with the necessary treatment without worrying about expenses.
- Online Policy Registration
A great benefit of coronavirus insurance is that most insurance companies have an online policy registration process. It is to prevent the spread of the disease by coming in contact with people with the existing risk of infection. Online registration of coronavirus does not require much documentation like general health insurance. The process is so short that some insurance companies only need a valid photo ID and recent coronavirus negative report.
- Family Plans
In coronavirus insurance, there are options to add immediate family members or the people living together. Having a joint coronavirus insurance plan is less expensive than having separate policies.
- Life Cover
The most significant benefit of coronavirus insurance is in providing life covers. The government of India offers an INR 50 lakhs life cover to coronavirus health workers and to match this goodwill, several insurance companies have similar huge life covers for policyholders.
Specific coronavirus insurance is more beneficial than regular medical insurance covering coronavirus disease. A person can have separate coronavirus insurance apart from existing medical insurance, doing so is beneficial as coronavirus insurance is extremely cheap, and it is easy to discontinue the policy. It will safeguard the policy and terms of the existing medical insurance. A person can use the entire insured sum of the current medical insurance when some other medical emergency occurs.