Existing policies cover Covid-19: Star Health

But, Star Health and Allied Insurance Co Ltd clarified that all of their health insurance policies provide medical cover for coronavirus. “Unless the policy buyer is diagnosed with the disease within the 15-day policy waiting period, they will be covered under the insurance,” Anand Roy, Managing Director, said.

He also allayed fears of claims not being payable if the World Health Organisation (WHO) declares coronavirus as an epidemic or a pandemic as many health insurance policies exclude such claims. Roy said another policy aiming specifically at coronavirus is on the anvil for which it is awaiting regulatory approval.

Recently, the insurance company also launched a policy targeting millennials. According to Roy, their research suggested that a majority of the youth steer clear of health insurance policies either believing that they do not need it or brushing it aside as something they would consider later in life. “Through our consumer engagements, we understood that millennials are reticent to purchase health insurance to mitigate their healthcare expenses, as they find that features in the current offerings do not pertain to their needs. Hence, we have designed the Young Star policy to include benefits such as lifelong premium renewal discounts, installment premium options, low waiting periods, etc.,” said Roy.

The policy also covers mental illness. “Because of the kind of work that the youngsters are involved in these days, their stress levels are really high. With the new policy, benefits of wellness programmes are available to incentivise good health,” Roy added.