Whether you believe it or not, the harsh reality is we are living in unprecedented times. Life was going as per the plan for the majority of the people across the world and suddenly our happiness was ruined by the Coronavirus. We are not going to talk about the place where it emerged and its history as that information is well known to the entire world .
The Covid-19 pandemic has steadily created huge havoc in the entire world and most of the countries are entire partial lockdown or complete lockdown. Economic activities has come to a standstill and it seems like there is no light at the end of the tunnel. Rather than being worried, it is important to take steps to protect yourself and your near & dear ones in the family. As stated by the WHO (World Health Organization), the symptoms of Coronavirus are nearly as same as normal flu.
As stated by WHO, a majority of the people who fall sick due to Covid-19 infection experience mild or moderate symptoms and recover without any special treatment. Here are the most common symptoms of Coronavirus:
- Dry Cough
Here are the less common symptoms of Coronavirus:
- Sore throat
The other rare symptoms of Covid-19 are loss of taste (or smell) and rashes on skin (or discoloration of toes or fingers). The serious symptoms of Coronavirus are chest pain, loss of speech (or movement), and difficulty in breathing. Frontline health workers are working tirelessly even though many of them are facing issues such as shortage of PPE (Personal Protective Equipment) kits, masks, gloves, and other protective gear that keeps them protected from COVID-19 whilst treating the patients.
Apart from practicing social distancing and taking care of health, it is essential to opt for Coronavirus Health Insurance as keeping yourself prepared for the worst is a good solution in such situations. There prevails a wrong notion that young and healthy people are not susceptible to Coronavirus. The reality is that people of all ages should take the necessary steps to keep themselves away from the infection by following good hygiene (Source).
Older people and people with compromised immunity and pre-existing medical conditions such as asthma, diabetes, heart disease, etc. are more vulnerable to viral infection. Public healthcare systems are already overwhelmed with new cases and there is a high possibility that a new set of patients may need support from private hospitals (for diagnosis and treatment). In a country like India, a single diagnostic test costs around Rs. 4500. Though this may not look like a huge amount, yet expenses will multiply if more people in a family have to be tested for COVID-19. For example, in a family of five people, the total cost of diagnosis will be Rs. 22,500.
Coronavirus Health Insurance from a good insurance provider will keep you financially secured during these difficult times. As per the announcements by IRDAI (Insurance Regulatory and Development Authority), the statutory body promoting insurance and re-insurance industries in India, has instructed insurance companies to settle insurance claims for the treatment of Coronavirus as per the steps created for regular health insurance claims. They are advised to expedite the claims process so that patients feel relieved from the financial burden faced during such times.
Quarantine costs, pre & post hospitalization costs, ambulance charges, expenses as per the normal medical health insurance policy, etc. are some of the things covered under the Coronavirus Health Insurance. There are certain T&C (terms & conditions) under which the claims would be processed.
Majority insurance company would only settle the claim if the patient has spent a minimum of 24 hours in the hospital. The in-hospitalization costs are covered but the out-hospitalization costs may not covered. Quarantine costs will be covered only if the patient is quarantined by a government-authorized hospital. It is important to have a detailed look at the policy documents to thoroughly understand the factors leading to COVID-19 treatment cost settlement.
In India, private hospitals are recording 3x more positive COVID-19 cases, even though government labs are leading in testing. Coronavirus health insurance will keep you financially protected if you or your loved ones test positive for COVID-19 (Source). Depending on the policy type (individual or family), you may have to pay the additional premium for the coverage of expenses related to COVID-19.
Many individuals do not understand the benefits of health insurance. They believe that health insurance is only for old people (or people who have medical conditions). Apart from saving on taxes, it also helps in cases as the future looks unpredictable. During pandemic, you would fear being infected even when stepping outside the house.
Our priorities in life have changed due to the COVID-19 pandemic. Many people who used to splurge money on materialistic things have suddenly realized that it is essential to invest in meaningful things like a health insurance policy. Until a vaccine is found, we have to learn to live alongside the virus. Coronavirus health insurance cover will be valid until April 2021. Hence, it is advantageous to invest in Coronavirus Health Insurance as it protects you and your loved ones during these unprecedented times.
COVID-19 treatment cost settlement can exhaust all your savings as this viral disease is a pandemic issue and that no one can estimate the cost (if they are tested positive with COVID-19). We would close this blog with the following line
Better to be well prepared for the future, rather than just being worried about the present!