People are undertaking various healthy and safe measures to avoid infection including self-isolation and social-distancing. But this cannot ensure forever health security. People may have to face sudden health mishaps.
Being healthy is as simple as getting the right amounts of exercise and sleep, as well as consuming a balanced diet. But, even these modest, basic rules seem challenging at times. The recent Coronavirus pandemic has grappled the nation and cornered us in lockdown. The Indian government is taking all possible measures to make sure that COVID-19 does not spread in India as it did in other countries. The keywords in these trying times are – Social distancing and health insurance.
Amid this chaos, the health-conscious generation is doing all in their fitness routine that they think they need to keep fit and build immunity – from working out at home to meditating to going on morning walks. While they all are working to keep themselves mentally and physically healthy, there are always chances of an unexpected exigency owing to the infectious disease. Given the current world health scenario due to the global Coronavirus pandemic, it has become indispensable to encourage people to gain a greater sense of control over their physical and financial health. This is why health insurance plays an important role in medical contingencies to take care of increasing medical expenses and protect the wealth of individuals.
In the past five years alone, the world has seen dreaded viruses such as Ebola, Zika, Mers (Middle East Respiratory Syndrome), Nipah, and now the recent outbreak of Coronavirus – COVID-19. As this fatal virus spreads around the globe, the expenses associated with the testing and treatment for the virus are weighing on patients who are underinsured or uninsured. So, it is important to be equipped in advance by insuring oneself and one’s loved ones with an all-inclusive health insurance policy to cover costs incurred on treatments arising out of such viral infections or any other unforeseen ailments.
Currently, people are undertaking various healthy and safe measures to avoid infection including self-isolation and social-distancing. But this cannot ensure forever health security. People may have to face sudden health mishaps. It is a situation that puts forth several complications. It may also create a difficult situation giving a tough time to the individuals and the people related to them.
In times like this, policyholders have a query whether hospitalization due to coronavirus will also be covered in health policies bought before the pandemic. The answer is – yes. All new health insurance policies will cover coronavirus cases after 30 days of the initial waiting period cover. Claims for such cases will follow the normal process and will be treated as a normal illness like pneumonia, chikungunya, or any other viruses. There is no exclusion so far. So, in case one has still not insured their family, they need to get themselves and their family insured with adequate health cover as soon as possible.
While COVID-19 has taught us many things, like basic hygiene factors or social distancing, the one very important thing is that we should not ignore health-insurance any further. Every family needs it.
Unanticipated incidents in life can come at any stage irrespective of the health conditions, income level, or age and can affect the life of a person. So, it is prudent to take preventive measures before any health uncertainty occurs. Here, the health insurance companies play an active role. They make provisions for better healthcare facilities while the comprehensive healthcare policies make quality treatment possible for all. They create a safety-net around one’s savings and family members so that they can get the finest treatment in the top hospitals of India.
Numerous studies have established that in India 62 per cent of people pay for health care out-of-pocket from their personal savings. Also, due to increasing medical costs around 5 per cent of the population is pushed below the poverty line every year. Therefore, in the age of rising medical costs and a greater tendency of falling prey to medical ailments or viral infections, it is important more than ever before to prepare for uncertain illnesses in the future and enhance financial well-being.
The health-conscious people believes that they are health-wise infallible – not likely to fall sick and that sustaining a healthy lifestyle and staying active is all they need to stay fit and healthy. However, the truth of the matter is that while healthy habits do play an important role in keeping certain ailments at bay, there are some unforeseen situations like the recent outbreak of Coronavirus that can still occur and will require hospitalization, despite all the proactive efforts taken to be healthy.
Overall, nothing can negate the importance of having a trusted health insurance partner who goes above and beyond to help customers in times of both illness and wellness.
by, Prasun Sikdar, MD and CEO, ManipalCigna Health Insurance Company