Is treatment for Corona Virus covered in your health insurance policy?

With the rapid spread of the virus world-wide, it has become a big source of worry for all of us in India also. While prevention is biggest concern, and rightly so, lots of people are also worried if their health insurance policy will cover the treatment costs for the treatment, in case they are unfortunate enough to be fall sick with the virus.

So this is what you should first check to know if your health insurance policy will cover the treatment costs. While you would have purchased your health insurance policy in good faith, expecting all medical conditions to be covered, it is important to check if you have a standard health insurance policy which covers hospitalisation benefits. Not all health insurance policies are comprehensive in nature - some are personal accident policies, some are fixed benefit plans, some are very specific to certain illnesses and some provide a fixed amount of money for everyday of hospitalisation – these policies will not really take care of your expenses in this case.

If you have a standard health insurance policy which covers hospitalisation benefits, you should not face any problems. In fact the Insurance Regulator has specifically issued a circular with the following details:
  • Where hospitalization is covered in a product, insurers shall ensure that the cases related to Corona virus disease (COVID-19) shall be expeditiously handled.
  • The costs of admissible medical expenses during the course of treatment including the treatment during quarantine period shall be settled in accordance to the applicable terms and conditions of policy contract and the extant regulatory framework.
  • All the claims reported under COVID 19 shall be thoroughly reviewed by the claims review committee before repudiating the claims.
While most of the standard policies will cover the expenses, it is best to go through the Policy Wordings of your plan to confirm the same. The Policy Wordings is the most detail list of terms and conditions of your health insurance policy. 

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