Daily News

How to choose the right travel insurance during covid-19

The covid-19 epidemic had the greatest impact on the tourism and hotel industries. Domestic and international travel have been in decline since 2020, and the sector is still striving for a comeback. In addition to travel, covid has an impact on the travel insurance business.

choose right travel

Because most countries have not opened their borders to international travel, the market is still slow. Some nations compel travelers to get travel insurance, and many others follow. As a result, you may need to include travel insurance in all of your trip arrangements.

The travel and hospitality industries have a close inter-relation with a negative impact on one having an unintentionally negative impact on the other. The Insurance industry saw a severe impact from the COVID-19 related restrictions. However, that will change in the coming months. We can anticipate a gradual movement of travel.

COVID-19 risks are still not elevated completely and many countries are expecting travel insurance for your trip. Hence, you should always prioritize travel insurance policies that cover covid-19-related expenses.

How to choose the right travel Insurance?

TATA AIG, HDFC ERGO, Bajaj Allianz, Go-digit, Care Insurance, and BhartiAXA, according to insurance experts, are insurance providers that can assist consumers to have a hassle-free and easy journey. You must choose carefully while purchasing travel insurance to cover the fees incurred for covid-19.

travel insurance policy

When acquiring travel insurance, one must look for every potential incurring cost. Including basic medical charges, lost/stolen/delayed baggage costs, cancellation/delay costs, and lost belongings costs.

When buyers have so many options on the market, they must assess the product’s qualities. In addition, the insurance payment ratio of insurance firms, partnerships with international network hospitals, solvency ratio, and market performance must all be considered.

People must choose insurance that includes health protection and agency assistance to cover medical bills. As well as a variety of other medical services including ambulances, daily hospital cash allowances, and accidental compensation.

Daily News

5 personal finance concerns in these uncertain times that need to be addressed fast

Covid-19 is spreading at an alarming rate. The lockdowns and limitations on movement wreaked havoc on businesses, organizations, and a variety of economic activities. Financial uncertainty has been the most concerning aspect of the pandemic-induced instability. Finance concern must be the priority for difficult times like this.

finance concerns

According to the FICCI, the Coronavirus epidemic in India resulted in a substantial decline in cash flow for 80% of businesses. People have become financially insecure as a result of the circumstance. As a result, it becomes necessary for people to conduct a thorough assessment of their current financial situation and the impact of the pandemic on it.

Five personal finance concerns in these uncertain times:

emergency funds
01

Inadequate Emergency Funds

It's a good idea to keep enough cash on hand in case of an emergency. It cannot be denied that the epidemic and subsequent lockdowns highlighted the need of having appropriate emergency finances.
02

Increase in debt

Increased debts are a major source of anxiety for people throughout this global pandemic. Those who have lost their jobs find it difficult to repay the loans they have taken out for various household responsibilities.
5 financial concerns
03

Delayed or late payments

Late payments are inconvenient because they typically result in additional fees. As a result, this financial worry must be addressed in order to avoid additional charges. It is important to develop a simple way to manage financial obligations.
04

Problems related to cash flow

The importance of cash flow cannot be overstated. Any cash flow problem continues to worry consumers since it disrupts the regular budgeting process. Moreover, cash flow problems become a hindrance for those who must meet financial obligations.
health insurance
05

Lack of health and life insurance plans

People must choose adequate health and life insurance plans since the Coronavirus has not been completely eradicated. These are crucial in preparing people to deal with an unexpected emergency situation during the epidemic. Lack of insurance exposes an individual and his or her family to financial hardships and leaves them unable to deal with financial demands that may arise at any time. When faced with a crisis, having a life insurance plan can help the entire family.

For more such updates, keep watching this space!

Daily News

All you need to know about monsoon-based health insurance coverage

A monsoon-specific Health Insurance policy’s main benefit is that it covers healthcare costs incurred as a result of hospitalization or out-patient treatment for the majority of severe vector-borne diseases, for people of all ages.

hospitalization during health issues - health insurance

There’s no denying that the monsoons hold a special place in our hearts, despite how difficult they might be at times. A season as alive as this deserves to be fully appreciated without having to be concerned about seasonal health hazards that can strike at any time; often resulting in illness or hospitalization. The season particularly necessitates extreme caution due to the numerous diseases, vector-borne illnesses, and other viral infections. Which are prevalent during this time of year. However, with Health Insurance on your side to protect you from financial hardships incurred, they’ll only be a small annoyance.

All you need to know about monsoon-based health insurance coverage

A monsoon-specific Health Insurance policy’s main benefit is that it covers healthcare costs incurred as a result of inpatient or out-patient treatment; for the majority of dangerous vector-borne diseases, for people of all ages. In recent years, the majority of disease-specific plans have become the most tailored insurance services. These services generally offer a variety of valuable benefits to consumers.

health insurance

The following are some of the most common advantages:

  • Full coverage for hospitalization fees for a wide range of ailments, including infections, unintentional injuries, and non-communicable diseases.
  • It includes diagnostic tests and examinations.
  • Coverage for the visits to the ER and day-care treatments
  • During an emergency, coverage for both a road and an air ambulance is provided.

Furthermore, many of these plans can be effectively topped up in case of severe health deterioration leading to ICU. The features also include a No Claim Bonus, which increases the Sum Insured for each year without a claim. Along with some plans offering a 200 percent increase, Unlimited Automatic Recharge of Sum Insured, and global coverage.

health insurance policy

While almost all Health Insurance policies include the most basic benefits. It is best to find out more about the waiting periods that apply to various conditions under those plans. The waiting period refers to the whole time that one must wait before being able to claim on expenses incurred for certain ailments or pre-existing disorders.

Other basic inclusions include 30-day and 60-day pre-and post-hospitalization therapy; alternative treatment forms such as Ayurveda, Unani, Homeopathy, and Siddha; domiciliary treatment (getting care at home), organ donation expenditures, and so on.

For more such updates, keep watching this space!

COVID-19 Daily News

Health Insurance Cover: Home treatment coverage to come under new plans as add-ons; customers may have to pay more on Premiums

This pandemic has made us learn that any illness doesn’t discriminate in any way of age, race, and religion. Health insurance can actually help your loved ones through this. The whole pandemic is becoming very scary. We want our family and loved ones safe and secured. Every day people are facing risks of death. Most of them are facing financial problems.

Are you insured for these risks? Considering these situations, health insurance companies are providing insurance for covid treatment also.

International Regulatory and Development Authority of India (IRDAI) launches two kinds of Insurance policies

  • Corona Kavach
  • Corona Rakshak

You can buy these two policies from any company like LIC, Future general, Max life, Star health insurance, etc. The terms and conditions for the policies will remain the same. There will be different premium amounts changing company to company.  IRDAI is encouraging to allow insurance companies to include home treatment services in the new health insurance policies as an add-on service.

The availability of a bed in the hospitals is a serious problem for now. As the number of patients is increasing day by day in the pandemic. Home treatment is the best option to treat your family members in existing health insurance policies. It will take a little extra premium to avail of all the facilities.

Corona Kavach

health insurance corona kavach

It is family health insurance that reimburses all the hospital bills during covid-19 treatment. It is an indemnity-based plan. The special feature of this policy is the availability of co-morbid conditions coverage also.

corona kavach

There are conditions to claims this insurance

  • To claim, the insured person must be diagnosed with covid positive from the authorized hospital.
  • There must be a continuous 24 hours of hospitalization of the patient.

Corona Rakshak

This insurance policy is mainly a benefit-based plan that ensures 100% of the sum paid to the policyholder. Its waiting period is also 15 days. It doesn’t have the feature of comorbid conditions. Unlike corona Kavach, to claim the insurance patient must be hospitalized for continuous 72 hours.

Corona Rakshak