How to save money and health: The COVID-19 or Coronavirus is now officially a pandemic as announced by the World Health Organization (WHO). Its impact on global health has been monumental with over 4600 people now consumed by it. The virus has spread in more than 100 countries and there are no signs as to how far this would go. In India alone, the number of cases has reached 70. The government has temporarily suspended visas of several countries. In the US, President Donald Trump has actually banned Europeans from travelling to America! 

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Convid-19 is a communicable disease and spreads very fast. This increases the chances of catching the virus significantly. 

Despite having health insurance plans, your worries are not without reasons. What will happen if somebody in your family is found to be infected with the virus? Will the current plan cover the treatment of the insurance policy-holder?  We know that the Indian insurance regulator has issued some directions. But what are these directions and will those directions prove useful for a policy-holder. Our guests Amitabh Jain, Head - Underwriting & Claim at ICICI Lombard General Insurance and Deepak Sahni, Founder, and CEO at Healthians has answers to all our queries that will not just save money, but most critically, save your health too as it will provide for the best treatment that does not weigh on your pocket.

According to the experts, the Insurance Regulatory and Development Authority of India (IRDA) has directed all the insurance companies to include coronavirus treatment in the health insurance policy. The insurance regulator has also directed the health insurance companies to design coronavirus specific health policies. The treatment should be covered in the policy.

The regulator has also asked the companies to complete all coronavirus related pending claims.
 
Notably, what you should know is this - Any health insurance policy will cover the treatment for coronavirus. Importantly, the expenses will be met by companies issuing health insurance policies. The policy cover will include cost before hospitalisation, after hospitalisation and ambulance charges.

Understandably, the latest directions have made people make a beeline for health insurance policies.  

'Digit Plan' to take on the coronavirus

-- Insurance startup  Digit has announce a plan specifically made for coronavirus
-- The name of the plan is Digit Healthcare Plus
--The sum insured under the policy is between Rs 25000 and Rs 200000
-- This is a cash benefit policy, the premium starts from Rs 299
-- Full treatment covered under the policy
-- On being quarantined, the policyholder will get 50% of sum insured
-- Premium on Rs 200000 plan is Rs 2027 +GST

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What importance does health insurance hold?

Experts underscore the importance of health insurance plans and even the term plans. They also advise policyholders to take a top-up plan, to meet any cost requirement in the event of treatment cost shooting up. The health insurance also gives you a back against critical illness. Health insurance plans up to Rs 1 cr now available.