A person who has cancer and doesn't have any health insurance will find it difficult to buy a regular hospitalisation cover. An indemnity-based cancer plan may cover them.
2.75 million of the 3 million Covid-related health claims were settled.
The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
Irdai had introduced two Covid specific products in the market - Corona Kavach and Corona Rakshak - that saw huge acceptance among the consumers as these products had lower premiums.
From July 10, when it was launched till August 7, 1,087,030 lives have been covered under Corona Kavach through 648,276 policies with premium of Rs 182 crore and sum assured for Rs 42,956 crore. In addition, 186,347 lives have been covered under Corona Rakshak through 156,695 policies with premium of Rs 25.5 crore and sum assured for Rs 3,293 crore, an Irdai official said.
Instead of getting confused by what agents tell you, check waiting period, claim-settlement ratio, price comparison etc to make the right choice.
Before you buy a cashless benefit plan at lower premiums, check if you can make full use of it. Most don't even exhaust the entire benefit.
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