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Health insurance companies are seeing the number of Covid-19-related claims rising, even as the pace of growth has slowed since the August-December period.
As of February 25, general and standalone health insurers have received 908,849 Covid-related claims, amounting to Rs 13,752.41 crore, according to the data compiled by General Insurance Council, which is not publicly available.
They have settled 761,676 claims, amounting to Rs 7,141.33 crore, almost 15 per cent of the health premiums the insurers have collected till January.
Overall, the insurers have settled almost 84 per cent of the claims in terms of the number of claims, and 52 per cent in terms of the amount of claims.
Synopsis
With Covid showing no signs of abating, it’s crucial not only to secure your lives, but also of your loved ones. One way to do so is by buying term insurance. And with regards to health insurance, consider two parameters. Read to find out.
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COVID-19 vaccine to be available in India soon: Will it be covered under your health insurance policy?
Several insurance companies have launched various insurance products to fight against coronavirus since the outbreak
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With multiple vaccine candidates applying for emergency licensing, a safe and effective vaccine against coronavirus infection will soon be available in India. Pfizer, Serum Institute of India and Bharat Biotech have applied for market authorisation for their vaccines. But will a COVID-19 vaccine be covered under health insurance policy? The answer is only specific health insurance policies will bear the expenses of the coronavirus vaccine.