Who should buy coronavirus insurance and why

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

Almost everyone, but the details depend on age and lifestyle.

Why do you need coronavirus insurance

She, like any other insurance, is necessary for one thing - to pay a little now, so as not to lose a lot of money in the future. Essentially, this is risk management. While some problems are difficult to avoid, they can be anticipated and mitigated.

What risks does coronavirus insurance cover?

Several dozen insurance companies and banks now offer coronavirus insurance. Each firm decides for itself what risks of the client it covers and how much it will pay, but the general principles have already been established. Standard insurance covers the four main risks associated with coronavirus. They are relevant for almost every person.

Diagnosing coronavirus

To confirm the disease, you need a PCR test and a doctor's diagnosis recorded in the medical record. When the information is provided, the insurance will pay from 20,000 to 50,000 rubles. And it doesn't matter whether you had to take sick leave and whether the infection was severe.

Not all companies cover the risk. Such a service is offered, for example, by Alfa-Bank, Gazprombank and Sberbank. Moreover, everything is specified in the conditions that the disease should be diagnosed for the first time, and the payment will be a one-time payment.

Hospitalization for treatment

If a person ends up in the hospital, then the insurance will pay for each day that the patient spends there. In terms of money, this is usually from 500 to 1000 rubles, but the term is set different: from 21 to 90 days. The maximum that we managed to find was 150,000 rubles.

This service is offered by Capital Life, Renaissance Insurance, Rosbank, Rosselkhozbank, Sberbank, Consent and Tinkoff Bank. Each firm is willing to pay for a different hospital stay.

Disability due to illness

This happens when a person with a confirmed coronavirus does not end up in the clinic, but just goes to sick leave. Then the insurer pays 3-4 thousand rubles for every day outside of work. But it is important to clarify the number of days - companies have deadlines.

This risk is covered by a few firms, such as Renaissance Insurance and Rosgosstrakh.

Death due to coronavirus

Worst but possible option that all insurers cover. In fact, this is basic life insurance: there is a not very likely accident, protection from the consequences of which can be offered to every client. The standard payment to relatives is from 500,000 to 2,300,000 rubles.

An important point is that insurance companies require confirmation that a person died from a coronavirus infection.

Usually this means that the cause of death must be a disease Respiratory diseases, J00 – J99 / International Classification of Diseases of the 10th revision from the group of respiratory diseases, and the coronavirus must be confirmed. If there is a coronavirus, and death occurred from a heart attack, it does not count. And even if a person dies of pneumonia, but the tests are negative, it also does not count.

Additional terms

Such offers vary greatly from insurer to insurer. Some options are immediately included in the policy, others are added for an additional charge:

• compensation for travel cancellations due to illness or newly closed borders;
• reimbursement for quarantine stay at the observatory;
• compensation for returning home;
• legal and psychological support;
• medical transportation to the clinic;
• payments for rehabilitation and treatment for complications after illness;
• posthumous repatriation of a body from another city or country.

Who needs coronavirus insurance

All people have their own peculiarities of life, rest and work. But there are ages and situations when it is worth thinking about insurance.

For people aged

Severe complications after illness are more common in older people. This means that they may need rehabilitation and additional medications. Procedures take Rehabilitation will be needed for everyone who recovered from coronavirus / Ministry of Health of the Russian Federation from 6-12 weeks, and not everything is available under the compulsory medical insurance policy - in this case, the insurance will cover the costs.

It is very important to re-read the age restrictions that each insurance company sets several times. Firms know that older people are less tolerant of infection, so they sometimes lower the bar.

Age	Insurance companies
Up to 60 years old	Alfa-Bank, Capital Life, Rosbank, Rosselkhozbank, Consent
Up to 64-65 years old	Gazprombank, Renaissance Insurance, Sberbank
No age limit specified	Tinkoff Bank, Rosgosstrakh

People with chronic diseases

Doctors believe Who is at high risk from coronavirus (clinically extremely vulnerable) / National Health Service UK, that people with these dangerous diseases are at high risk:

• oncology;
• cardiovascular disease;
• allergies;
• pulmonary pathology;
• diabetes;
• kidney disease;
• rheumatic diseases.

People with such pathologies, like the elderly, are more likely to face complications after infection. Again, it's worth considering financial risk management.

True, it can be tricky. Each insurance company prescribes something like this in its rules:

Translating from legal: people with potentially dangerous diseases will either be denied insurance, or it will be more expensive because of the high risk for the company.

When concluding a contract, no one will check for diseases, and you can take out insurance on general terms. But if, for example, health problems are revealed during treatment, then the contract is simply declared invalid and nothing will be paid.

All family and friends on the trip

Getting sick with coronavirus in another country is not only scary, but sometimes very expensive. For example, air traffic between Russia and Thailand is open, you can fly away on vacation without any special formalities. But the coronavirus has not gone anywhere, and the WHO Dashboard Thailand / World Health Organization is infected there by 5-6 thousand people every day. And if the traveler gets sick, hospitalization will cost 600-800 thousand baht, which is 1, 4-1, 8 million rubles.

If the insurance covers at least most of the costs of overseas treatment, then it's already good. But it is important to study the coverage area.

Insurance coverage area	Insurance companies
The whole world	Alfa-Bank, Gazprombank (except for the USA), Renaissance Insurance (except for war zones), Sberbank, Tinkoff Bank
Russia	Capital Life, Rosgosstrakh, Rosbank, Rosselkhozbank, Consent

In addition, some countries require 1. Tourists coming to Egypt must submit valid health insurance to airports / Egypt Independent

2. Information for Russian citizens entering Cuba / Embassy of the Russian Federation in the Republic of Cuba

3. On the conditions of entry of citizens of the Russian Federation into the UAE / Embassy of the Russian Federation in the United Arab Emirates

4. Measures for entering Thailand / Entry Thailand

5. Covid-19 Useful Information / Athens International Airport

6-7. Information for Russian citizens in Sri Lanka and the Maldives / Russian Embassy in Sri Lanka and the Maldives

8. Flying to Jordan-Information Required / Visit Jordan travel insurance that covers coronavirus treatment. At the beginning of July 2021, without such a policy, they will not be allowed into these states:

• Egypt;
• Cuba;
• UAE;
• Thailand;
• Greece;
• Sri Lanka;
• Maldives;
• Jordan.

People who travel a lot for work or study

Businessmen or people who often go on business trips are also at risk. This also includes students who come to sessions or scientific conferences from other cities and countries.

These people face a double danger. First on the road, when in contact with many strangers at train stations, airports and hotels. Then, on the spot, when they meet with colleagues at business or academic meetings.

However, insurers will not agree to take out a policy on every business trip. For example, they sometimes do not enter into contracts with representatives of certain risky professions:

• military personnel, rescuers and law enforcement officers;
• athletes who are involved in extreme sports;
• workers in the chemical or nuclear industry.

Sometimes the restrictions are not obvious, so it is important to carefully read the rules:

What is worth remembering

1. Insurance against coronavirus will not save you from illness, but it will help you dodge possible financial consequences.
2. Policies are issued by several dozen insurance companies, almost all of which take into account diagnosis, hospitalization and death from infection.
3. There are many additional offers for policies, it is better to choose options for yourself.
4. Almost everyone should be insured against coronavirus, but especially for people of age, with chronic diseases or those who often travel around the country and the world.
5. It is important to carefully study the rates and insurance rules in order to choose the option that suits you and not run into the restrictions of a particular company.