Health Insurance 3647 views May 9, 2020

Corona Insurance

Given the rate at which COVID-19 is spreading in the country and considering the impact of lockdown on the economy, many people have been hit by the double effect of disease and the dearth of funds. Coronavirus has been in news for months now and it has become a matter of great concern for our vastly populated India. There have been various outbreaks of deadly viruses earlier like Zika, Ebola, MERS, Nipah, etc. But the novel Coronavirus (COVID-19) has brought the whole world to a standstill with several countries under lockdown, including India.

Health Insurance

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Though it has not widely spread in India as compared to other developed nations like China, Italy, and the USA, it is important to be prepared for any unfavorable circumstances in advance. But if you have a Health Insurance Policy the question arises whether novel Coronavirus disease falls under the ambit of medical insurance coverage or not?

Taking cue from this increasing panic amongst the people and the rapid spread of Coronavirus, all health insurers in India have started covering treatment for COVID-19 under the regular health insurance policy. The Coronavirus health insurance cover will be available from the day the insured gets diagnosed with the disease. This is because COVID-19 is a new disease and doesn’t come under pre-existing illness. However as per IRDAI guidelines, the insurers have even introduced Coronavirus specific health insurance plans that provide dedicated coverage to the deadly virus.

Such plans are an excellent way to compensate for the loss of income during the treatment of the illness as the policyholder is paid the entire sum insured as a lump sum in case of testing positive for Corona.

Which Insurance Schemes are Covering COVID-19?

We have listed down a few insurers who are providing such coverage to cover your expenses incurred due to COVID-19.

ICICI Lombard – COVID 19 Protection Cover

The Coronavirus specific health insurance offered by ICICI Lombard is called COVID19 protection cover and it is a fixed plan benefit that pays 100 percent of the sum assured irrespective of the hospitalization expenses as a lump sum to the policyholder in case the policyholder is declared COVID19 positive. The plan comes with a waiting period of 14 days and can be purchased by the people across 17 to 75 years of age group. However this plan excludes the people who have a travel history to any location overseas post December 31, 2019.

In addition to this, if the policyholder has been quarantined for suspected COVID -19 or diagnosed to COVID19 prior to the risk inception date or within the initial 14days waiting period, the insurer will not be liable to pay any claim. the plan even comes with certain add-ons including teleconsultation (4 free calls to take any consultation) and Ambulance cover that can enhance the coverage provided to the insured. The health plan is priced at a premium of Rs 149 which provides a sum assured of Rs 25000.

Future Generali – Group insurance cover/Mediclaim Policy

The health insurance plans offered by Future Generali is also a fixed plan benefit that pays 100 percent of the sum assured irrespective of the hospitalization expenses as a lump sum to the policyholder if he is diagnosed with COVID-19 infection. However, while buying the plan policyholder must provide the travel records and must not have a past medical history related to the novel Coronavirus.

If the policyholder is not diagnosed with COVID -19 and is also asked for a 14 day quarantine for a suspected COVID-19, a lump sum benefit of 50 percent of the sum insured will be paid to the policyholder. Apart from 50 percent of the sum insured, an additional benefit of 10 percent of the sum insured will be paid to the quarantined policyholder towards incidental expenses. anyone who is between the age group of 18-50 years can buy this plan.

This plan comes with three different plans – Vital, Premiere, and Superior. All plans are available with individual and floater options and with lifelong renewal facilities.

  1. Vital Plan – Self, spouse, dependent children (unmarried and up to the age of 25 years), and dependent parents.
  2. Premiere Plan & Superior Plan – sell, spouse and dependent children (unmarried and up to the age of 25 years) or non-dependent children, dependent or non-dependent parents, dependent siblings, dependent daughter in law, son in law, parents in law, grandparents and grandchildren ( maximum up to 15 members)

Star Health Insurance – Star Novel Coronavirus

Star Health insurance’s Star Novel Coronavirus provides 100 percent health insurance cover to those who test positive for COVID-19 and requires immediate hospitalization. Though the plan comes with an initial 16 day waiting period from the date of the commencement of the policy. Anyone who is between 18 to 65 years of age can avail this cover while dependent children between 3 months to 25 years of age can be covered under this plan along with any one of the parents.

The unique benefit of this plan is that it covers individuals irrespective of any international travel history to any locations overseas.

The Star Novel Coronavirus plan is available at a premium of Rs 495+GST for a sum assured of Rs 21000 while for a premium of Rs918 +GST for a sum assured of Rs 42000. Being a Fixed benefit plan it can only be bought once in a year by an individual.

Bharti AXA Group Health Assure Policy

Bharti AXA Group Assure Health Policy comes with a fixed coverage of 100 percent sum assured as a lump sum if the policyholder is diagnosed with COVID 19 or gets quarantined in a government hospital or military facility. In case the policyholder is diagnosed negative after being quarantined for 14 days in any government hospital or military facility, 50 percent of the sum insured will be paid to the policyholder.

The policy offers protection from the day one of the purchase and is available at a premium of Rs 499 (including GST) for fixed sum insured of Rs 25000. To buy this policy one may access the Banking section of the Airtel Thanks App or by visiting the nearest Banking Point of Airtel Payment Bank. There is no medical check-up required to buy this policy and is available for saving bank account customers of Airtel Payment banks who are not suffering from cOVID-19 or its symptoms. The validity of this policy is up to one year and will be issued on an individual name basis.


While fixed benefit plans provide dedicated coverage for a specific ailment, it is always advised that apart from covering yourself under a fixed benefit plan you must also protect yourself with an indemnity based health insurance plan. Such plans can be renewed every year and provide you overall protection regardless of the illness for which you are seeking treatment. For a comprehensive and overall protection for every illness and ailment, you must invest in a regular health insurance policy with maximum sum assured.

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