Coronavirus Support Plan: Should you opt for this insurance?

By: |
March 19, 2020 11:12 PM

Clinikk Healthcare has designed the plan to provide customers with a 360-degree coverage of their health needs while infected with Novel Coronavirus COVID-19.

Coronavirus outbreak, Novel Coronavirus COVID-19, Coronavirus Support Plan, Clinikk Healthcare, health insurance, pre-policy medical checkup, Insurance Regulatory and Development Authority of India, IRDAI, health insurance, disease-specific insurance plansIt is India’s first comprehensive protection plan against Novel Coronavirus COVID-19.

Amid widespread concerns, Clinikk Healthcare, a platform dedicated to democratising healthcare through technology, has announced the launch of Coronavirus Support Plan – India’s first comprehensive protection plan against Novel Coronavirus COVID-19.

Combining primary care and financial protection, Clinikk has designed the plan to provide customers with a 360-degree coverage of their health needs while infected with COVID-19.

Customers are assured of end-to-end treatment services under the Coronavirus Support Plan, including consultations with qualified doctors, 24*7 doctor assistance.

Designed to be affordable and accessible to everyone, Rs 1 lakh insurance cover against any hospitalisation costs related to coronavirus the plan will be available at a starting premium of Rs 499.

Although, it is an affordable plan providing a comprehensive healthcare safety net for individuals infected with the coronavirus, the question is – should you lap up the product?

Earlier also, many insurers had introduced products for various specific diseases including vector borne diseases in order to provide need based health insurance coverage, so the Insurance Regulatory and Development Authority of India (IRDAI) has encouraged insurers to design products covering the costs of treatment for Coronavirus, but before deciding on whether to lap up the plan, you need to know advantages and disadvantages of such disease-specific plans.

The advantage is that such plans are affordable and provide holistic cover against a specific disease. Normally, an applicant needn’t go for any pre-policy medical checkup, but just to declare that he/she is not suffering from the particular disease at the time of submitting proposal for the disease-specific plan.

But the disadvantage is that such a plan would cover only the particular disease and no other medical conditions, while a comprehensive health insurance covers all the diseases, including Coronavirus or any other infection.

So, before applying for this plan, remember that it will cover no other diseases or illness, except the illness due to Coronavirus COVID-19 infection.

Hence, you can’t just afford to take only a disease-specific insurance cover and must take a comprehensive personal health insurance.

However, if you are in a high risk category, you may opt for such a plan as a supplementary cover to ensure that you needn’t lose no claim bonus (NCB) or other advantages of the comprehensive plan due to relatively small expense incurred on treatment of a particular disease.

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