Crucial Insurance Policies you need to consider during Covid-19

Covid-19, the probability of this health disaster leaving us is still very low. This crisis is so sudden that every country’s healthcare system did not get a chance for prior proper precautionary measures. This epidemic has brought an unprecedented loss of hope, substantial social effects, and significant economic crisis. The healthcare sector and insurance sector is facing utmost instability along with a countable workforce and weak regulations due to Covid-19.

If you just look at the situation now, there is still a scarcity of proper healthcare measures and loss of life/health. Even the insurance sector is in turmoil. If you are already insured (health insurance), you might not have to worry much about the expenses that might arise due to Covid-19. But those who do not have an insurance policy to their name now have a high time to get one.

You can get health insurance coverage either for yourself or your family. Many corporations also tend to provide their employees with insurance coverage, either singly or a joint. This insurance coverage of companies may cover liabilities related to its employees, compensation, and property insurance.

You might have the knowledge that UAE is famous and pretty strict with their insurance policies/plans. Every organization is bound to do so. Fortunately, you may even find companies providing group health insurance in Dubai. You still have other options, though.

Now that you are at it, why don’t you learn about some vital insurance policies necessary during this pandemic? You might have the notion that every other health/life insurance policy offers the same benefits. That’s not the case, though. If you decide to be insured, you have to overview each and every insurance plan out there. You should consider and select the one as per your preference and need.

  • Health insurance policy (singular)

Although the name suggests a single plan, it is actually a policy where you can get insurance on behalf of each entity (spouse, children, parents, etc.) separately. Here, you need to provide the number of individuals to be insured along with their age.

However, by any chance, if a particular individual files a lawsuit against the insurer, the other family members would not be affected. Now, suppose you are one of those who want a single coverage for the whole family but want individual protection. In that case, this might be one option to take precaution from Covid-19.

  • Child Care insurance coverage

There is also a separate Child Care Plan, which you can do for your child reaping extra benefits. You can get this plan with any insurance provider all over the world.

  • Maximum healthcare coverage

You can also choose the insurance policy that covers the maximum number of healthcare misfortunes. Here, after the initiation of your said policy, within 30 days, you can reconsider the policy’s details that cover viral infections and Covid-19 as well.

Comprehensive insurance policies provide compensation for your unintended hospitalization expenses and other acute or chronic diseases.

  • Special plans for Covid-19

As the outcome of more Covid-19 casualties, IRDAI offers all the health insurers a special policy of regular pay-out. This is highly beneficial for those who seek a short-term solution. And since it better opts as a short-term strategy, the rate is also lower than full insurance coverage.

Do keep in mind, this particular policy is only for protection/precaution against Covid-19. You should not miscalculate its range of coverage options.

  • Medical coverage for Elderly

Every insurance provider out there reserves a policy for elderly/senior citizens. Hence, comprehending the situation, it is advisable to get a personal insurance cover for your elderly parents. It supposedly provides extra benefits.

So, suppose there is a need to get them hospitalized and get unnecessary treatment. In that case, the insurance package will cover most of the hospitalization bills. You do not have to take out every penny from your bank account for the care bills.

  • Insurance coverage with pre-existing conditions

Many insurance policies now come with pre-existing conditions which the insured/customer has to comply with. It is best to be transparent with the insurance provider to get more of your preferred health coverage benefits. Suppose you happen to match with any of the pre-existing conditions of the policy. In that case, it will help in easy mitigation when there is any claim.

It is your responsibility to provide the insurer with all your pre-existing healthcare concerns, such as previous surgery and hospitalization, diagnosed ailments, serious accidental harm (if any), accurate medical history (disorder, if any). You also need to comply with all the tests and check-ups before finalizing the policy of your name.

  • Policy for essential diseases

However, suppose you are not comfortable exposing all your medical issues. In that case, you still have the choice of Plan for Essential Diseases. Here, you will get long-term financial support from the insurance provider whenever you get diagnosed with the essential disease as per the health policy.

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