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Best Covid-19 Group Health Insurance From India
Covid group insurance is a health insurance policy to cover groups of employees, workers, and contractual laborers from the financial risk that arises if they suffer from Covid-19. Hence, financial compensation is provided for medical expenses to treat Covid-19 or to the dependents in case the virus results in the death of the worker.
Vital features of Covid Group Insurance:
- Individual cover to each member up to the sum insured.
- Suitable for workers and contract laborers working under an organization.
- Family Floater cover is also offered by few insurance providers which the employer can opt for while buying the policy.
Compare all Covid Insurance Policies of India:
Covid insurance for employees and laborers is can be bought in India from the following five companies:
- Digit General Insurance- Corona Policy:
Sum insured offered is between 1 and 3 lakhs and the waiting period is 15 days.
- ICICI Lombard General Insurance- Group Mediclaim for Contractual staff:
Sum insured is can be chosen by the employer as there is no particular range and the waiting period is 15 days for this policy as well.
- Reliance General Insurance- Group Mediclaim for Contractual staff:
Sum insured can be chosen between 50 thousand and 1 lakh. There is no waiting period in this policy.
- Care Health Insurance – Group Mediclaim for Contractual staff:
Sum insured ranges from 50 thousand to 1 lakh and there is no waiting period in this policy too.
- Universal Sompo General Insurance- Group Mediclaim for Contractual staff:
Sum insured ranges between 50 thousand and 1 lakh in this policy as well along with no waiting period.
All of the above policies can be taken for people between the age of 18 and 60 years.
Advantages of Buying Covid Group Insurance in India
Covid insurance for employees, contractual workers, and laborers are helpful for the employer, the workers as well as the organization. Following are some of the benefits you get with covid insurance plans:
- Made compulsory by the Insurance Regulatory and Development Authority (IRDA):
IRDA issued a directive in April 2020, making it mandatory for all employers and businesses to financially cover their employees, laborers, and contractual workers with a valid Coronavirus Group Health Insurance Plan. Unless this requirement is met, you cannot begin your business operations with your staff and laborers.
- Employee protection:
If you buy covid insurance for employees, laborers, and contractual workers then they will stay financially secured in case they get Covid-19. This will ensure that they have peace of mind and work to their full potential without any stress about the future.
- Employee retention and loyalty:
It is apparent that when your employer cares about your financial well-being, you will tend to stay loyal to them for a long period. As a result, employees will feel valued and perform better in the workplace. This adds to the goodwill of your organization as well.
Inclusions in Covid-19 Group Health Insurance
- In-patient hospitalization:
If an employee, labor, or contractual worker is hospitalized due to coronavirus, then the Covid-19 group insurance will provide financing for all the hospitalization expenses.
- Pre and Post Hospitalization cover:
Covid insurance plans also provide coverage for all pre and post-hospitalization expenses spent on the treatment of Covid-19. 30 days of pre-hospitalization expenses and 60 days of post-hospitalization expenses can be covered in this policy.
- Ambulance charges:
If an ambulance service was used by the employee, labor, or contractual worker for hospitalization, then the ambulance charges will be covered in the covid-19 insurance policy as well.
- Day care treatment:
If the insured employees, laborers and contractual workers incur any expenses on daycare treatment, then they will be compensated.
- Air ambulance:
In case of an emergency, an employee, labor, or contractual worker might have had to use an air ambulance. Some insurance providers cover the expenses incurred for this as well.
- Second medical opinion:
In case an employee, contractual workers or labor wants another medical opinion, then this can be covered under covid health plans as well.
Rider Benefits of Covid-19 Group Health Insurance
An add-on cover can also be included in the policy with the payment of an additional premium. These include:
- Patient care:
If any patient care services are required by the insured, it can be covered in the insurance policy.
- Hospital cash:
There are many other expenses incurred by a patient during hospitalization so this cover will provide a daily allowance for hospital cash to the patient.
Exclusions in Covid-19 Group Health Insurance
- Pre-existing diseases and conditions.
- Cases that arise before the initial waiting period ends.
- Cases that arise out of a specific disease before the waiting period of 6 months.
- Maternity and related expenses.
- New-born baby expenses.
- Healthcare staff who have been in direct contact with covid-19 patients.
Claim process under a Covid-19 Group Health Insurance Policy
- If coronavirus is detected in any of your employees, isolate them and inform the insurance provider. The insurance company shall also be intimated in case of emergency hospitalization.
- Duly fill up and sign the claim form.
- Collect all the information and documents that are required to be given to the insurance company.
- Send the claim form and other relevant documents to the insurance company.
- The insurance provider will then evaluate your claim form and other documents with your insurance policy coverage.
- After evaluation, the claim amount will be paid to the insured.
What are the required documents to file a claim under Covid Group Insurance?
- Filled and signed claim form.
- Doctor’s diagnosis and treatment suggested.
- Medical certificates, test reports, investigation results, and other relevant documents.
- Medical bills along with the doctor’s prescription.
- Hospital bills and payment records.
- Discharge card of the patient which is issued by the hospital.
How to Buy a Covid-19 Group Health Insurance Policy?
- Find and fill the form at the top of this webpage.
- Enter all the required details such as the name of your organization, city, contact number, etc.
- Select the plan that you deem suitable for your employees, laborers and contractual workers.
- Upload any documents that are to be submitted.
- Fill in all of the other required details.
- Select the add-on covers that you want to include in your policy, if any.
- Pay the covid insurance policy premium.
- Insurance Policy will be issued after you successfully pay the covid insurance policy premium.