Life cover for Covid-19 survivors may take some more time: Report

If you are a Covid-19 survivor looking to buy an insurance cover, you may have to wait up to 3 months to be able to buy one. The virus-affected individuals experiencing health issues after recovery will have to undergo prescribed medical tests and wait for a mandatory 3-month period before getting an insurance policy issued on their name, Mint reported.

““Life insurers may ask additional questions and maybe slightly more vigilant in their decision if the individual has recently returned from an international trip, or is planning to travel abroad shortly, especially to a country that is severely affected by Covid-19,” Karthik Raman, chief marketing officer and head, products, Ageas Federal Life Insurance, was quoted as saying.

Insurance companies like Tata AIA Life and Exide Life have announced a 3-month waiting period for applicants and mentioned the requirement for medical tests to identify their risk category. The new clause demands complete transparency in terms of pre-existing medical condition of the applicant as covid survivors with co-morbidities like diabetes, lung diseases, other chronic diseases are at greater medical risk.

An insurer might reject your application incase provided with fraudulent documents, pre-existing medical conditions, hazardous occupation or a risky lifestyle pattern.

Covid survivors will definitely get an insurance cover but only after fulfilling the terms and conditions – medical check up (additional tests may also be required in some cases) and a waiting period of three months.