Coronavirus in India: Insurance policy for Covid-19 offers Rs 2 lakh cover

The novel coronavirus or COVID-19, after wreaking havoc in 70 countries around the globe, is now beginning to unfold in India. As the fear of the fatal virus grips the country, a Bengaluru based online insurance company named Digit has come up with a coronavirus insurance policy.

Titled Digit Health Care Plus Policy, it will provide a minimum cover of Rs 25,000 and a maximum of Rs 2,00,000. The company will charge a fee of Rs 299 per sum of Rs 25,000. It should be noted that this is an experimental product and is available for a limited period only.

The benefits of the policy will kick-in only if an individual test positive or is under quarantine.

If detected with COVID-19

As per the policy, the company will disburse 100% of the claim amount if a person gets diagnosed with COVID-19 and has a positive Virology report from the Indian Council of Medical Research - National Institute of Virology, Pune.

If only quarantined

The company promises to pay 50% of the sum insured if an individual is under quarantine for at least 14 days in a government or Military hospital. The cover will be provided even if the test later comes out to be negative.

Terms and conditions

Along with stating the benefits which act as a cushion against the financial burdens of coronavirus, Digit has also mentioned the terms and conditions that need to be adhered to.

1. The policy will not be applicable to those who have travelled to China, Japan, Singapore, South Korea, Thailand, Malaysia, Hong Kong, Macau, Taiwan, Italy and Iran.
2. The policy will be terminated after the first claim itself as it is a one-time benefit.
3. The policy does not consider patients with inconclusive reports.
4. The policy does not cover any additional expenses of multiple testing and medications.
5. The policy excludes those above 75 years of age and those with pre-existing medical conditions.
6. The policy will remain valid only if both the testing and the treatment are done in India.

Coronavirus has so far claimed 3000 lives

The epidemic of COVID-19, which originated in China's Wuhan in December last year, is nowhere close to an end and has claimed nearly 3,000 lives worldwide.

With the fresh cases of coronavirus coming to the fore in India, Prime Minister Narendra Modi today urged people to not panic and assured them that the government is actively working towards containing the spread.