On account of COVID19 rapid spread, Visakhapatnam Muthoot Finance is providing COVID19 insurance policies affected people in the name of ‘Muthoot Finance Ayush Gold’ in collaboration with ‘Kotak Mahindra General Insurence’ company. This coverage is to make available health insurance for the people of the corona affected the city.
This policy is applicable to the people of gold loan taking under the MSL Scheme at Muthoot Finance Company. This insurance covers up to 1 lakh.
Many general insurance companies are looking for short term health insurance cover for COVID19 that may soon be available in the coming days. Insurance regulatory authority is now working to bring out such policies for the people of India.
Short-term COVID19 health insurance policies are offering by both life and general insurance by following the policies of IRDAI.
Insurance regulatory authority says such short term policies are need of the hour. Short-term health insurance policies providing specific coverage on COVID19.
COVID19 policies are individual products and no separate add-ons permitted. But few policies are making to increase the coverage period of the policy if policyholder which to increase the period of the policy.
Insurers are advised to opt for short-term health insurance products to cover COVID 19. Check the terms and conditions of the policy before choose. Do not simply trust agent oral explanation about the product. Sometimes may not give critical information like coverage policies. So, advised customers checking with the term and conditions of the policy avoid future loss benefits.