Digit Insurance has also introduced an insurance product to provide coverage against the Coronavirus Disease (COVID-19). The insurer has built the insurance product under the Digit Health Care Plus and filed under IRDAI’s Sandbox Regulations.
The policy covers ongoing treatment, where if the test for COVID-19 is found positive from any of the authorised centres of ICMR-National Institute of Virology, Pune, the company gives 100% of the claim amount. According to the insurer, there will be no requirement for the completion of treatment.
In case of quarantine is advised in a government, army or military hospital, Digit will give 50% lump sum of the claim amount for a consecutive period of 14 days (incubation period for COVID-19). The policy will also give coverage to the costs for screening and treatment.
Vivek Chaturvedi, head, Marketing, Digit Insurance, said, “We are offering this as a flat benefit cushion cover, for both positive and quarantined cases. While for positive cases we pay 100 per cent, 50 per cent of sum insured is paid for quarantined cases so that even in the smallest way possible, it compensates for the loss of income during this period. The insurance money is paid upfront in case of our product.”
“For claims, the insured needs to submit a certificate from a government medical officer to start the treatment for Coronavirus Disease (COVID-19) or a positive virology report.
One can choose from multiple sum insured options starting from Rs 25,000, which a choice of coverage up to Rs 2 lakh,” he added.
