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Covid insurance makes sense if you have a comprehensive policy: Experts

Especially if sum insured is small, at say Rs 5-7 lakh for the family

If a person is looking to save his/her comprehensive insurance plan from any Covid-19 claims and aims to safeguard the entire sum insured for other diseases and medical requirements, then he/she can go for Covid-19 specific plans.
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If a person is looking to save his/her comprehensive insurance plan from any Covid-19 claims and aims to safeguard the entire sum insured for other diseases and medical requirements, then he/she can go for Covid-19 specific plans.

Bindisha Sarang
The Insurance Regulatory and Development Authority of India (Irdai) has asked insurers to extend the validity of Covid-specific policies – Corona Kavach and Corona Rakshak - till March next. The current validity expires on September 30.
 
Sanjay Datta, chief-underwriting, reinsurance, claims & actuarial at ICICI Lombard General Insurance, says, "Irdai earlier last year introduced these Covid-specific products which are simple to understand and affordable to encourage maximum health insurance penetration. Keeping in mind the uptake of these policies and the possibility of a third wave of the pandemic, Irdai has extended the timeline."

For individuals and families, it