Covid-19 and Health Insurance: Key things you must know

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The highly contagious Covid-19 which spreads like a wildfire has helped spread awareness around health insurance. A lot of people have bought a health plan, especially for Covid-19 coverage. Even if a person has recently recovered from Covid-19 he/she can approach insurers for a policy.

The products have evolved as well. One of the major issues with Covid-19 hospitalisation was the high cost of consumables. The frequent use of PPE kits, gloves and sanitisers added to the medical cost. Traditionally, consumables are out of the policy purview. Now insurers have started offering it. In an exclusive interview with Money9, Ravi Vishwanath, president – accident and health at HDFC ERGO General Insurance discussed key features that one should have in their health insurance policy.

Three important things to ensure an ideal plan

– Make sure that the plan has enough coverage. In the Covid-19 crisis, it was observed that people had insurance but they didn’t have enough coverage.

– The consumable coverage is very important. So, ensure consumables are covered.

– Always look for the value for money

HDFC ERGO Optima Secure

The newly launched product provides in-built coverage for consumables. In Optima Secure, a Rs 10 lakh cover becomes Rs 40 lakh after 4 years. One can also opt for Rs 25,000 deductible for a 25% discount in premium.

Watch the full interview to know more