So, I've been trying to find out more about the covid insurance plans. I already have a floater Mediclaim insurance with Star Health, but I believe this will not cover the disposables like PPE and gloves, etc. for covid. Which is why I'm looking for a specific covid insurance plan.
Does any member have any experience with this? Do you have any specific recommendations?
Corona insurance: Policyholders can file a claim under this product if they are hospitalised for COVID-19 treatment after testing positive at a government-authorised diagnostic centre.
Going with Star Health Corona Kavach policy, although their premium is little higher than the likes of National Insurance and United India. I have good experience with Star Health.
Going with Star Health Corona Kavach policy, although their premium is little higher than the likes of National Insurance and United India. I have good experience with Star Health.
Where did you find the premiums of Star Health to be higher for Corona plans. I just checked both Star Health and National Insurance premium charts and National Insurance premiums are considerably higher. My Mom is 58 and Star Health plan premium for 5L is 2281 while it is 6975 for National Insurance. I was thinking of going for National Insurance myself as they are a govt owned company but the premium rate is much higher and the benefits seem to be equal as both cover PPE charges.
Star health policy maximum coverage is for 5 lakhs, is this for entire family(2+2) or each one in the family will be covered for maximum 5 lakhs? If we go for floater!
I already have health optima floater with star, will it not cover covid?
All corona kavach plans are capped at a maximum of 5 lakhs coverage, and a maximum term of 9.5 months. If you choose floater, it will be 5 lakhs for the entire family.
My advice would be to go for individual plans for each family member. Floater discounts are hardly worth it. And we know that when one member of a family becomes covid positive, the other members are very much likely to get the same.
@logistopath thanks for the suggestion. How about kids? Assuming i want to insure maximum possible for each one of them in the family(2+2 kids), what's the best way to go ahead considering I already have star health family floater policy.
I have the same for my family too. The problem is, existing health insurance plans have various sublimits, especially on consumables. Stuff like ppe and gloves, home quarantine, etc are not covered. So taking a specific covid policy makes sense, especially if your floater plan value is less. If you see the bills from private hospitals, almost 50% of the bill amount goes towards consumables.
There is another type of policy called Corona Rakshak. This is offered by very few insurance companies. The premium is also High. However, as per this policy, if someone's diagnosed as covid positive and is hospitalized for 3 days, they get the entire sum assured as a lumpsum amount.
@logistopath thanks for the suggestion. How about kids? Assuming i want to insure maximum possible for each one of them in the family(2+2 kids), what's the best way to go ahead considering I already have star health family floater policy.
I guess you could take individual 5 lakh policies for each family member (including kids). If you are in a metro and you expect hospitalization expenses to be very high, it makes sense to go for individual plans for all. Any expense beyond the sum insured in this kavach policy can be claimed in your optima, I think. Please get this clarified from your agent.
Also, please take the 9.5 months plan. This kavach policy cannot be renewed. So every time you buy it, there will be a waiting period of 15 days.
Yeah. Got this clarified with my agent. The policy will be sent in the name of an adult of the family. It will list out all the individuals covered (2 adults + 2 dependant children), each showing their SI amount of your choosing.
If you would like to claim 80D tax benefits for both yourself and your wife, you could split the policy in the name of the two adults. In each policy, there will be an adult and one dependant child.
@logistopath thank you, the screenshot you shared was good reference for me. Earlier my confusion was, if its individual means, only one person we can get and like wise i thought four seperate policy needed .
So can i get this without having any existing health coverage?
I checked out star health's rakshak site, and they are saying they don't need any pre existing condition checks. Just the 15 day wait period. For a 9 month cover of 2.5 lakhs, the premium is 6k something.
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