ICICI Lombard has introduced a new policy ‘COVID-19 Protection Cover’ keeping coronavirus in mind in a group insurance mode. The COVID-19 Protection Cover will pay 100% of the sum insured irrespective of hospitalization expenses, on the diagnosis of COVID-19 positive cases.
The entire sum insured if the policyholder will get the entire sum insured upon he or she is diagnosed positive for COVID-19 at any of the Government authorized centers. The amount will be paid in a lump sum in the case of a first diagnosis of the disease during the policy period after an initial waiting period of 14 days.
Policyholder can buy the COVID-19 protection cover for the sum insured of Rs. 25,000 by paying a premium of Rs. 149. However, the tenure of the policy is restricted to 1 year.
Sanjay Datta, Chief – Underwriting, Claims and Reinsurance, ICICI Lombard says, “The COVID-19 protection cover policy will provide financial support to the coronavirus infected cases. The company will pay 100 per cent of the opted Sum Insured as a lump sum in the event of the first diagnosis itself. The cover will prove to be a big help in such challenging times.”
