What is COVID 19 Insurance? what are the Benefits of Buying COVID 19 Insurance?

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COVID 19 Insurance

COVID 19 insurance refers to an insurance policy or driver who financially supports the policyholder for health care expenses incurred in treating COVID 19 disease. The COVID-19 insurance benefits are designed to help people get quality treatment and care to fight the disease, novel coronavirus.

COVID-19 insurance covers the insured as soon as a short waiting period (usually 15 days) after purchase has been met. for your expenses, provided the diagnosis is issued 15 days after it was issued. A person can also purchase this coverage as individual insurance or as part of a COVID 19 insurance driver that is linked to a life insurance plan.

Benefits of Buying COVID 19 Insurance

  • Financial Assistance: 

Under COVID 19 insurance, depending on the type of policy you have purchased, you will be covered for your expenses as soon as you have been diagnosed with Covid-19 (subject to terms and conditions) or you will receive a fixed percentage of the total amount. Sum insured once the disease is diagnosed.

  • Enhanced Life Protection:

With some COVID 19 insurance policies, you can get an additional sum insured in the event of death due to Covid-19. If the insurance cover is below the COVID 19 insurance annex, this sum insured is calculated in addition to the insured basic sum of the policy.

  • Tax Benefit:

You can get tax benefits for taking out COVID 19 insurance in accordance with applicable tax laws. In addition, the service received under COVID 19 insurance cover is tax-free.

 

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