COVID-19 or Coronavirus is an infectious disease caused by a newly discovered virus called severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).
Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. However, older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.
Term insurance plans in India cover COVID-19 claims, subject to scrutiny by insurers. There are many insurers who offer covid-19 protection plans which cover the medical expenses incurred during the treatment of COVID-19 which includes hospitalization.
A Coronavirus or a COVID-19 Protection Plan is an insurance policy that covers hospitalization and medical expenses incurred during the treatment of COVID-19.
These are term insurance plans that have the provision of covering claims that come under death due to COVID-19. These policies however do not cover any hospitalization expenses.
In the current pandemic situation, it is important for everyone to be adequately insured as life has become even more uncertain. Moreover, it is important to consider the high cost of treatment in private hospitals if suffering from Coronavirus. Even if you have a life insurance policy or a health insurance plan, it may not be adequate considering the rise in number of critical cases and deaths due to COVID-19.
Here are reasons why getting a COVID-19 specific insurance plan is a good idea:
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4 - Discount for large Sum Assured is available depending on the Sum Assured, policy term and premium paying term.
Edelweiss Tokio Life – COVID Shield+ is only the name of a Non-Linked, Non Participating Individual, Pure Risk Premium, Life Insurance Product and does not in any way indicate the quality of the plan, its future prospects or returns. Please know the associated risks and the applicable charges from your Personal Financial Advisor or the Intermediary. Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N067V01.
ARN No : WP/1473/Feb/2021