As the COVID-19 pandemic grips the world, the focus on health insurance plans and how to protect yourself.

According to Shanai Ghosh, CEO of Edelweiss General Insurance this is the right time that everybody realises the value and worth of health insurance.

"We are realising that a lot of people do not really understand insurance. There is lack of awareness around what kind of health insurance policy you own. There is a need to educate customers about their own policies. They have their own policies, but still there is fear that is COVID-19 covered,” he said.

“All illnesses are covered; unless it is pre-existing and it is under a wait period, all illnesses are covered. If it is beyond the 30-day initial waiting period as per our policy, all illnesses are covered,” she added.

Ghosh also said that they have sought permission from IRDAI to entertain COVID-19 related claims even within the 30-day waiting period.

Reiterating Ghosh, Mayank Bathwal, CEO of Aditya Birla Health Insurance said, “COVID-19 is covered in all the indemnity policies and customers need not worry. In fact, we, and all other insurers are making sure that if any claim comes, they are ready to deal with these issues fully.”

Speaking about whether mediclaim would cover testing and quarantine if the tests are found to be negative, Sarbvir Singh, CEO of policybazaar.com said, “If the test leads to hospitalisation, then it is covered by all insurance policies. However, if it does not lead to hospitalisation, then it is unlikely to be covered. The government has fixed the test at Rs 4,500 and that is something that individual consumers will have to bear. However, it probably is a price worth bearing in the current environment.”

First Published:Mar 31, 2020 7:02 PM IST