Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
With the threats of the third wave of Covid-19 looming around, the Insurance Regulatory and Development Authority of India (Irdai) has permitted all insurers to offer and renew short-term Covid-specific health policies up to March 31, 2022. The extension has come at a time when India has scaled its vaccination drive with an average per day dose being increased from 2 million in May to 7.8 million in September.
Irdai directed insurers in 2020 to launch the standard short-term coronavirus specific policies so that people have access to the health cover in testing times. The policy was initially offered only up to 31st March 2021 and later got extended up to September 30, 2021.
Corona Kavach policy covers hospitalisation expenses for the treatment of Covid-19. This policy does not have any room rent limit and covers home treatment maximum of up to 14 days per incident. Corona Rakshak is a benefit policy that does not reimburse hospital bills. It pays a lump sum benefit equal to 100% of the sum insured on the positive diagnosis.
Rise in claims
There were complaints by policyholders and brokers in the past that many insurance companies declined to renew and issue new policies. It was because during the second wave of Covid-19 insurance companies reported a huge rise in claims, including Covid-specific policies. The claims in the first three months of this financial year were more than the total claims in the previous year for the industry.
The premium rates for these policies were set during the first wave of Covid-19 when the number of cases reported was very less. However, because of a large number of claims during the second wave, insurance companies felt the need to correct the premium they charged last year. The regulator has, however, not issued any direction on premium rates so far which indicates the premium rates will continue to remain the same.
Should you buy Covid-specific policies?
One should always buy a basic health insurance policy as the first level of protection. It gives a much wider coverage as it will cover hospitalisation expenses for other illnesses and pandemics as well. After buying a comprehensive policy, one can go for the second level of protection with Corona Kavach or Corona Rakshak policy, as they offer extensive coverage for the treatment of Covid-19.