Coronavirus Outbreak: Reliance General Insurance launches COVID-19 protection insurance cover

Non-life insurer Reliance General Insurance on Wednesday launched a COVID-19 protection insurance scheme, which offers 100 percent of the sum-insured in lump sum on positive diagnosis of coronavirus

Press Trust of India April 08, 2020 14:48:00 IST
Coronavirus Outbreak: Reliance General Insurance launches COVID-19 protection insurance cover

Mumbai: Non-life insurer Reliance General Insurance on Wednesday launched a COVID-19 protection insurance scheme, which offers 100 percent of the sum-insured in lump sum on positive diagnosis of coronavirus .

In case a person is quarantined, the plan offers 50 percent of the sum-insured during that period.

The plan has a policy period of one year and the waiting period is for 15 days before one can claim against the policy, according to a statement by the company.

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Representational image. Reuters.

"We have designed this product to reduce the financial implications this pandemic can bring to an individual, by offering them a lump sum policy, irrespective of the treatment cost," the company's Executive Director and CEO Rakesh Jain said.

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The plan will cover anyone aged between 3 months and 60 years, for a sum-insured option from Rs 25,000 to Rs 2 lakh.

It will also give cover for any loss of pay or job under separate add-ons in addition to the base policy.

The plan has an add-on option, 'Travel Exclusion Removal', which offers waiver to the 45-day travel exclusion policy and enables the insured to claim 100 percent of the sum-insured if they test positive.

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