As India fights an immense second wave of the COVID-19, here are the key parameters to consider while buying a health insurance policy that is adequate and comprehensive to meet the hospitalisation and related requirements in times of the pandemic.

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Here are the five key factors to be considered before buying a health insurance policy:

Waiting period for COVID

According to Amit Chhabra, Head-Health Insurance at Policybazaar.com, the waiting period for COVID-19 coverage ranges from 7 days (GoDigit Insurance) to 15 days (Max Bupa) to 30 days (All other insurers). So, customers should select the plan based on their needs and benefits.

Also read: How to manage health insurance and emergency funds?

Coverage for consumables

As per Chhabra, COVID-19 hospitalization necessitates a large number of consumables, particularly PPE kits and gloves. While these are not typically covered by health insurance, a few insurers (Care Health, Max Bupa, and Bajaj Allianz) do.

Home care treatment

Most hospitals in the country are overcrowded, which makes home care (or domiciliary hospitalisation) increasingly important.

According to Chhabra, a few plans cover domiciliary hospitalization for COVID-19 as well, which means that if a home ICU or home treatment is required, the health insurance policy will cover it.

Sum Insured

COVID hospitalisation typically lasts 10-15 days, with bills ranging from $15 to $20 million per person. In such a case, Chhabra says that a high-sum insured policy is strongly advised.

Also read: Here's how much health and life insurance cover should you buy

Purchasing procedure

A health insurance policy can be purchased online in a matter of minutes. In most cases, purchasing online is less expensive.

Those who are under the age of 65 and do not have a pre-existing disease, as per Chhabra, can receive an instant policy with no physical medicals and coverage begins immediately. Those who are above 65 years of age or those who have a pre-existing disease such as diabetes or hypertension can still purchase a policy online. Physical medical examinations will not be required; instead, tele-underwriting will be performed from the comfort of homes.

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(Edited by : Ajay Vaishnav)