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. [caption id=“attachment_4008287” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] “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. Click here to follow LIVE updates on coronavirus outbreak 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.