Covid Vaccine is currently the buzzword in India. While the medical infrastructure is becoming overwhelmed because of the rising number of covid-19 cases amid the second wave, getting vaccinated is one of the most effective and safe solutions to keep the deadly virus at bay. While a COVID insurance policy is designed to safeguard you and your family from any unexpected health emergencies, it is important to choose the right policy that can cover coronavirus vaccine expenses as well as hospitalization expenses due to the deadly virus.
Covid Vaccine Coverage under Health Insurance
One important point people want to know is whether the health insurance plan covers Covid-19 Vaccination. Up until the last year, experts were unaware when vaccines would be available in India. But now with the vaccine being rolled out in full swing in India, chances of fighting the new virus have become possible.
Please also note that you have a health insurance plan that covers the vaccination costs. The coverage is available especially if you plan to go for a mediclaim for the corona vaccine. In addition, if your policy has OPD cover benefits, then the costs of the coronavirus vaccine will be covered if specified in the policy. It is important to note that the IRDAI is in discussion with insurance companies to design a plan that can include vaccination costs in the Covid-19 insurance policies.
Given the constant surge in coronavirus cases in the country, the IRDAI (Insurance Regulatory and Development Authority of India) has already mandated that all general and health insurance companies must include covid coverage in their existing health indemnity plans. It covers pre and post-hospitalization expenses also as applicable. If you do not have health insurance, it is advisable to buy one with the roll-out of covid-19 vaccines.
HDFC ERGO and Covid-19 Vaccine
With an aim to promote the COVID-19 vaccination drive in India, certain health insurance plans of HDFC ERGO provide coverage for the vaccination costs. HDFC ERGO covers costs of the vaccine up to INR 500 for every insured senior citizen i.e. people who are above 60 years of age can enjoy vaccination cover under their policy for a specified period.
The insurance company also offers CORONA KAVACH POLICY that is designed to take care of your coronavirus hospitalization expenses, home care treatment expenses, pre and post-hospitalization charges, AYUSH treatments and road ambulance cover.
Protects Your Family
A covid vaccination cover is a protection net for your beloved family. It helps prevent potentially infectious ailments that can spread through direct contact with an infected person. And because we all understand how fast Coronavirus spreads, it will be sensible not to take any chances and be combat-ready. Health insurance covered with a vaccine for Corona will endeavor to stop the disease before it causes any harm.
Coverage for the Sum Insured
Health insurance companies make sure that the vaccine coverage does not reduce your base sum insured in their plans. It has a separate limit. Health Insurance Company like Tata AIG has developed a plan under which vaccine coverage will not affect your cumulative bonus. Once the guidelines about the addition of the COVID vaccination cost to the COVID insurance policies are released, the company will follow a course of action accordingly.
Tata AIG and COVID Vaccine Cover
If you want the Covid vaccine is covered under your health plan, you do not need to pay extra for the coverage. Unlike other insurance companies that may require you to buy a vaccination cover as an add-on or rider, Tata AIG has a plan to offer an in-built vaccination cover. The company considers vaccination cover as a feature rather than an add-on.
Conclusion
While millions of people are getting infected by the covid-19 disease, vaccines along with Covid-appropriate behavior are a promising way to stop further transmission. Standard health insurance policies are covering Covid-related hospitalization expenses in the country. Many insurers have designed customized health insurance policies to deal with any Covid-related complications.
Disclaimer: The above information is for explanatory purposes only. For more details, please refer to policy wordings and prospectus of the health insurance plan before purchase.