Covid19: ‘Corona Armor’ to be removed? Mediclaim claims harass companies

News Agency, New Delhi: With the start of the Corona transition last year, insurance companies have decided to introduce a new special Covid Mediclaim policy as an ‘option’. However, the companies have lost interest throughout the year and have to pay more than 150 per cent of the total premium received. Surprisingly, only 25 per cent of consumers who have taken out a new policy have moved the sand under the company’s feet despite making Mediclaim claims. Therefore, the insurance companies have adopted a policy of withdrawing from the Covid policy.

This role of companies is likely to pose a mountain of difficulties for those who want to take out a new policy and those who renew an old policy. Currently, most of the companies in the market have blocked Kovid policies. In addition, companies have increased the premium for general Mediclaim policies. Corona infections increased in March last year, when companies introduced the Corona Armor Mediclaim policy to cover treatment costs for corona patients. Under this, protection was being provided by paying a premium of Rs. 500 to 5000 per month. The term of these policies is three and a half to nine months. Under this, insurance cover from Rs 50,000 to Rs 5 lakh has been provided.

Policy renewal closed

Corona shield policies will have to bear the brunt of losses, which was not even in the minds of companies. So now they have stopped renewing these policies. In addition, many insurance companies have discontinued special Covid Mediclaim policies. According to sources, no special mediclaim policy is now available for Corona.

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What should customers do?

According to Mumbai Insurance Ombudsman Milind Kharat, if any insurance company is not distributing the policy or renewing the old policy, the customer should lodge a complaint with the Insurance Regulatory Authority (IRDA). For this, contact numbers and e-mail ids have been provided on the IRDA website. Apart from this, complaints can also be made to the regional authorities of the insurance company. If they do not take notice, there is an option to lodge a complaint with the Insurance Ombudsman. However, it may take some time.

Online policy option

Many companies have made it possible to purchase Corona Armor policies online. Companies’ online policies can be purchased on most websites. Under the Corona Armor Policy only Corona treatment is spent. However, general insurance policies cover the cost of treatment for other ailments, including corona.

Mediclaim premiums are expensive

According to sources, the demand for mediclaim policies increased significantly during the Corona period. So now this policy has become relatively expensive. Companies have to pay large sums on claims made under this policy. Therefore, the premium of this policy has also been increased up to 30 per cent.

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