Insurance regulator - Insurance Regulatory and Development Authority (IRDAI) - has asked insurance companies to come up with health insurance policies that cover COVID-19 related medical expenses by July 10. The step by the regulator comes at a time when COVID-19 cases are surging at a very fast pace.
India recorded more than 19,000 new coronavirus patients for a second consecutive day as the total cases crossed 5.48 lakh-mark, the Union Health Ministry said this morning. Nearly 3.2 lakh COVID-19 patients in the country have recovered since the beginning of the pandemic, the government data shows. A total of 16,475 patients have died.
India's biggest single-day jump in cases - 19,906 fresh infections- was registered on Sunday. The country - fourth worst-hit by the pandemic - has been reporting over 15,000 new patients every day since Wednesday. This morning, the government said 19,459 new cases were reported in the last 24 hours.
Nearly 83 lakh samples have been tested since the beginning of the pandemic in India, according to the government. On Sunday, around 1.7 lakh fresh samples were collected. India has a population of around 135 crore, according to rough estimates.
Meanwhile, IRDAI has asked the insurance firms to offer two health insurance policies - Corona Kavach Policy, Corona Rakshak Policy.
"These standard policies specific to COVID-19 are a welcome move considering the current situation where people are worried about the COVID-19 treatment costs. These policies will cater to people who currently don't have a holistic health insurance policy and are looking to cover themselves against COVID-19. The policy coverages, terms & conditions are standard across insurers; the USP would be wide network of hospitals for cashless facility. These COVID-19 specific policies will certainly be a good start and an attractive proposition for people to opt for health insurance," Rashmi Nandargi, head - retail health underwriting at Bajaj Allianz General Insurance told NDTV.
Both the policies will cover expenses for hospitalisation, home care treatment and aayush treatment. Charges of pre and post hospitalisation will also be covered in both policies.
