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IRDAI Guidelines for Coronavirus Claims

​IRDAI has issued new guidelines for insurance companies to handle coronavirus cases during this pandemic.

The Covid – 19 (Coronavirus) has affected the global population and millions of people are suffering from this disease. The medical science team is working round the clock to develop a vaccine for the same. However, the vaccine is still not available to treat affected people.
With the increase in the number of coronavirus infected people in India, the Insurance Regulatory and Development Authority of India (IRDAI) has issued new guidelines for the insurance companies to handle Covid-19 cases. It asked companies to expeditiously settle hospitalization claims related to coronavirus under medical policies. Before going ahead and discuss new guidelines, let’s understand what health insurance is and how it is helpful. 

What is Health Insurance? 

It is another form of insurance which covers all unforeseen medical emergency and expenses that has a direct effect on your savings. Medical insurance includes all sorts of expenses start from pre to post hospitalization, check-ups, and other related services. Once you submit the required documents, either you can choose a cashless facility or reimbursement. Here are the benefits of medical insurance:


  • ​Covers pre and post hos​pitalization expenses
  • ​Diagnosis expenses
  • Hassle-free claim settlement with minimum documentation
  • No claim bonus
  • Ambulance expenses
  • Free annual health check-ups​
  • Now the next question which comes to everyone’s mind is what is IRDAI? So here is the answer for your convenience. Insurance Regulatory and Development Authority of India (IRDAI) is an independent regulatory entity that governs all insurance companies including general insurance, medical, travel, life, and vehicle, etc. The basic aim of IRDAI is to safeguard the interest of policyholders during cancelation, issuance, and claims. It also makes guidelines for insurance companies to sell their products in the market. To handle coronavirus cases, IRDAI has issued new guidelines for the companies handling such cases:

  • The policy tha​t covers hospitalization expenses should be expeditiously handled in case of covid-19, by the company.
  • Compensation for all admissible expenses during treatment including quarantine period shall be settled as per the policy terms and conditions.
  • All covid-19 claims need to be thoroughly reviewed by the claim review committee before rejection.
  • To fulfil the need-based medical coverage, companies are providing special health plans. Insurance companies are advised to design plans for the treatment of coronavirus.
  • IRDAI has introduced these instructions as per the provision of section 14 (2) (e) of IRDA Act, 1999 and shall be enforced immediately.​
  • This has the approval of the competent authority.

  • You can choose one out of all available medical insurance plans and buy health insurance online as per your requirements. To get the best plan with a minimum premium, you can check different medical insurance plans online. Also, you can directly purchase a policy online as well as by simply calling an agent. People still think that it is a wastage of money, but let me assure you that medical insurance is not a wastage but a shield on your savings. ​