Star Novel Coronavirus (nCoV) (COVID-19) Insurance Policy (Pilot Product)

Highlights

Claim Payment
100% Lump-sum Cover

Pre-acceptance medical screening
No pre-acceptance medical screening

Waiting Period
Only 16 days

Benefits
The policy provides lump-sum benefit of Rs.21, 000/- and Rs.42,000 for the person contracted and is diagnosed with Novel Coronavirus (nCoV) (COVID-19) requiring Hospitalization.

Sum Insured Options :
Rs.21,000/- and Rs.42,000/- on Individual basis.

Waiting Period :
16 days

Exclusions :

The Company shall not be liable to make any payment under this Policy:-
If there is no inpatient hospitalization irrespective of whether quarantined or not.
For Any Illness, sickness or disease other than Novel Coronavirus (nCoV) (COVID-19);

Pre-Acceptance Medical Screening:
No pre-acceptance medical screening

Eligibility
Policy: Only one policy is allowed for one person
Persons between 18 years to 65 years can take this insurance.
Policy is issued on Individual sum insured basis only.
Dependent Children can be covered from 3 months to 25 years along with any one of the parent under this policy.

General Terms

Tax Benefit:
Amount paid by any mode other than by cash for this insurance is eligible for relief under Section 80D of the Income Tax Act.

Free look period:
At the time of inception of the policy, the Insured will be allowed a period of 15 days from the date of receipt of the policy to review the terms and conditions of the policy and to return the policy if not acceptable. In such a case, the premium refund shall be as follows :

If the Insured has not made any claim during the free look period, the Insured shall be entitled to a refund of the premium paid less any expenses incurred by the Insurer on medical examination of the insured persons and the stamp duty charges or where the risk has already commenced and the option of return of the policy is exercised by the policy holder, a deduction towards the proportionate risk premium for period on cover or where only a part of the insurance coverage has commenced, such proportionate premium commensurate with the insurance coverage during such period.

Free look period shall not be applicable at the time of renewal

Star Advantages
No third Party Administrator, direct in-house claim settlement.
Faster & hassle-free claim settlement.
Cashless hospitalization wherever possible.