The coronavirus outbreak has spread to more than 70 countries around the world, including India. After Kerala, cases have been reported in Delhi, Telangana and other states.
Today Money Money Money focuses on insurance covers that one must have to deal health or travel crises that may arise out of this epidemic.
Anup Rau, CEO and MD of Future Generali India Insurance, said: “We have been pretty insulated from the virus until about a week back. Some sense of fear is now creeping in but as long as you have a regular mediclaim policy, you have nothing to worry about."
"You will have pandemics, you will have epidemics like you had Middle East respiratory syndrome (MERS), you had severe acute respiratory syndrome (SARS) and now we have the virus here, but I think the moot point here is that you need to have insurance cover, health cover and as long as you have it, you are protected.”
Mediclaim is definitely a good starting point but what is seen in the past three weeks, the queries that are received on health insurance has gone up dramatically, said Sanjiv Bajaj, vice chairman and managing director at Bajaj Capital.
People are now re-evaluating their covers, they are looking at top-up options, they are evaluating if it is enough, he added.
"My thought here is that this is very important, don’t wait for a pandemic to breakout to do this. This is something that you must do anyway, ensure that you have adequate covers."
"Yes people may have corporate covers but there are a lot of people who are not working for corporates, who are not covered and they have not bought. People are concerned, we have seen a flood of enquiries coming in,” Bajaj added.