Home / Money / Personal Finance /  Reliance General Insurance launches COVID-19 protection insurance cover
Back

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

In case a person is quarantined, the plan offers 50 per cent 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.

"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.

The plan will cover anyone aged between 3 months and 60 years, for a sum-insured option from 25,000 to 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 per cent of the sum-insured if they test positive.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout