Reliance General Insurance has launched a dedicated COVID-19 Protection Insurance cover. The policy offers 100% of the sum insured on positive diagnosis of COVID-19 and 50% of the sum-insured during quarantine irrespective of hospitalization expenses.
Anyone aged between 3 months to 60 years can avail the policy for sum insured ranging between Rs.25,000 and Rs.2 lakh. The policy also offers to cover 'loss of pay' and 'loss of job' under separate add-ons.
In a press release, Rakesh Jain, ED & CEO, Reliance General Insurance said, "Looking at the current crisis, COVID-19 Protection Insurance is a much-needed product for customers even if they have an existing health cover. We have designed this product to reduce the financial implications this pandemic can bring to an individual by offering them a lumpsum policy irrespective of the treatment cost.”
The policy comes with a waiting period of 15 days i.e. claims will paid only if coronavirus is diagnosed after 15 days of buying this policy.