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Is there a Need for a New Insurance Policy to Cover Covid-19?

Posted by Royal Sundaram on 29 Apr 2020

With growing awareness among people regarding the recent outbreak of Covid-19, the primary attention is upon two major sectors, healthcare, and insurance. While the medical experts are in a constant fight against the deadly infection that is spreading at a lightning-fast speed, the insurance experts as well are feeling a similar pressure and ownership.

What is the outbreak?

The recent outbreak is the spread of a deadly and contagious viral infection called Coronavirus or COVID-19. The virus is known to come from animals and reptiles, and with animal meat consumption, it has transitioned to human beings as well.

The most concerning thing about this outbreak is that it is not a widely researched domain, and there is no preventive or curative medicine or vaccine available at present. Although hundreds of scientists across the world are working day and night to develop a vaccine, it is sure to take time.

What category does Coronavirus fall under?

Coronavirus is a viral infection that comes under the broad category of infections. Although most of the pre-existing health insurance policies cover diseases under the tab infection, Coronavirus being new is on the table for discussion.

Why is there a need to evaluate the existing health insurance policy in the light of Coronavirus?

Most of the insurance companies have a pre-defined list of diseases that are covered under their health insurance policy. Almost all major diseases are already covered, but when it comes to a new ailment of the likes of recent Coronavirus outbreak, even the insurers are not sure of its inclusion.

A lot of factors play a significant role in this inclusion like:

  1. Associated healthcare costs
  2. Time frame for hospitalization
  3. Check-ups and test-related costs
  4. Government’s aid on the underlying situation
  5. Side-effects of the current ailment

After the IRDAI has instructed the insurers to include Coronavirus claims under the regular health insurance policy, Coronavirus is treated similar to other infections in terms of insurance and claims.

Benefits of health insurance policy

Under the wake of recent events, it has become certain that people are rushing towards buying Health Insurance for COVID-19. Some of its benefits are:


Before you buy a new Health Insurance for COVID-19, check with your existing insurance provider for inclusions and coverage on Coronavirus.

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