How to Buy Health Insurance in a Post-COVID World

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How to Buy Health Insurance in a Post-COVID World

The pandemic increased people’s awareness about the importance of health insurance plans. From pre-COVID to post-COVID times, the penetration of medical insurance in India has spiked.

The Insurance Regulatory and Development Authority of India (IRDAI) made it a must for health insurance providers to include coverage for COVID-19 treatment in the regular plans. In July 2020, it also compulsorily asked health insurance companies in India to offer COVID-specific short-term plans called the Corona Rakshak Plan and Corona Kavach Plan. IRDAI even launched Arogya Sanjeevani Policy to help you get comprehensive yet affordable medical insurance coverage.

So, the first thing to check when you buy health insurance is whether the provider includes the above plans among its products as per IRDAI regulations.

Factors to Consider When Buying Health Insurance Plans in the Post-Pandemic Era

Here are some other factors to remember when choosing a health insurance company in India or a suitable plan from the provider:

Cover against Inflation: India currently ranks as one of the top 3 nations hit by coronavirus disease. This has led to high medical inflation. Therefore, it’s important to choose a company that offers a large sum insured under most health insurance plans. You can also check whether any of the plans provide special benefits to help beat inflation.

Large distribution network: See whether the insurance provider has branches in multiple cities in India and settles claims globally too. After all, the pandemic has taught us to stay protected, irrespective of the part of the world we’re in.

Both cashless and cash provisions: It’s essential to choose a health insurance company in India that offers both cashless medical services and daily hospital cash for critical illnesses. Also, learn whether cashless approvals are settled quickly. The uncertainties that came with the pandemic has made this factor crucial for consideration.

Eligibility for a wide age group: Since diseases like COVID-19 can affect even young and senior citizens, it’s necessary to get an insurance policy with eligibility for a broad age group. Plus, there must be options to switch to a family plan to protect your loved ones.

Coverage must include but not be limited to hospitalisation costs: As inflation rises, it becomes harder to afford medical costs besides hospitalisation expenses also. So, you must buy a health insurance plan that covers the cost of pre-hospitalisation, post-hospitalisation, ambulance services, and outpatient care. Moreover, conditions like COVID-19 often require domiciliary care. Therefore, it’s good if the plan also covers domiciliary care costs.

Coverage for AYUSH treatment is also significant since this area of healthcare is developing constantly. An organic remedy called AYUSH-64 has already proven beneficial in improving mild-to-moderate and asymptomatic COVID-19 cases. Besides, due to rising cases of depression and anxiety, it’s helpful if the insurance policy covers mental care costs too.

Coverage for teleconsultations: Since social distancing is vital, check whether the health insurance plan also covers teleconsultations with doctors.

Cover for loss of job: If needed, you can even choose an insurance plan covering for unemployment as the pandemic has resulted in losses of jobs. Besides, look for discounts that can make the plan more affordable.

How Can ManipalCigna Help?

ManipalCigna is one of the largest health insurance companies in India and has branches spread all over the country. It offers a range of medical insurance products, considering all the above factors and more. Most of its products come with a high sum insured and attractive discounts. These usually cover various medical expenses, including hospitalisation, pre-hospitalisation, post-hospitalisation, ambulance services, day-care, domiciliary care, adult health check-ups and more. The eligibility criteria are simple, and all the products have options to shift to a family plan.

The ProHealth plan even has a cumulative bonus booster option up to 200% of the sum insured to beat inflation. The Lifetime Health Insurance Plan offers both domestic and global coverage and covers major illness hospital cash, medical teleconsultations, and other benefits under its Health+ package. The ProHealth Cash Plan exclusively offers daily cash for hospitalisation. The Lifestyle Protection Accident Care Policy covers a loss of a job and other financial problems.

To conclude, assess your current medical and financial requirements, and accordingly, opt for a suitable health insurance plan from a reputed provider like ManipalCigna.

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