What Are The Benefits of COVID-19 Insurance?

Like the other insurance products in the market, COVID-19 insurance is a specialised health policy that covers hospitalisation and treatment expenses related to the virus infection. COVID-19 health insurance coverage comes in dedicated policy forms, including the Corona Kavach and Rakshak cover. Many general insurance companies in India began offering travel and medical insurance with COVID coverage after the pandemic.

Benefits of a Covid 19 Insurance

The benefits of a COVID-19 insurance policy include the following:

1. Financial Protection to Your Loved Ones

A COVID-19 health insurance policy provides financial stability to a person’s family in case of that individual's demise due to the disease. So, if a person has this policy and has contracted coronavirus and couldn’t survive this disease, in that case, his family member who is a nominee will receive the entire sum assured in the policy. 

2. Affordable Premiums

With a Corona insurance policy, one can receive coverage for medical and non-medical expenses by paying a nominal premium. Treatment for COVID-19 can sometimes be very expensive and can cost lakhs of rupees, in case it becomes severe. So, opting for a COVID-19 health insurance policy will help to meet the medical expenditures at an affordable cost. 

3. Uncomplicated Claim Settlement Procedure

COVID-19 health insurance offers a quick claim settlement policy that will help the insured get his claims at the earliest. This policy offers a cashless/online settlement option so that the person doesn’t have to go to the billing counters to settle his bills. The insurance agents will assist the insured in claiming and settling the expenses.

4. Inflation-Proof Your Financial Planning

The expense of healthcare has risen tremendously during the pandemic as people are forced to spend their money to get premium treatments in the hospital. Most rely on their funds to deal with emergencies without a health policy. The COVID-19 health insurance policy also assures to benefit the insured’s family if the person dies of COVID-19 disease.

Conclusion

COVID-19 insurance ensures the highest quality of service and better financial and cashless support for the insured and his family during COVID-19 treatment. One should invest in COVID-19 health insurance to secure their finances during the medical treatment. However, you may even get comprehensive health insurance with COVID-19 coverage.