Reliance General Insurance (RGI), a 100% subsidiary of Reliance Capital, today launched a dedicated COVID-19 Protection Insurance cover which is being offered on a group platform. It is a first-of-a-kind benefit product policy that offers 100% of the sum insured in lumpsum on positive diagnosis of COVID-19 and 50% of the sum-insured during Quarantine.
Anyone aged between 3 months to 60 years can avail the policy, for a wide range of Sum-Insured options from ₹25,000 to ₹2,00,000. The policy also offers to cover ‘Loss of Pay’ and ‘Loss of Job’ under separate add-ons in addition to the base policy. ‘Travel Exclusion Removal’ is a special add-on that offers waiver to the 45-day travel exclusion policy and enables the insured to claim 100% of the Sum-Insured if they test positive.
Commenting on this development, Rakesh Jain, ED & CEO, Reliance General Insurance said, “Looking at the current crisis, COVID-19 Protection Insurance is a much-needed product for customers, even if they have an existing health cover. We at RGI have designed this product to reduce the financial implications this pandemic can bring to an individual, by offering them a lumpsum policy, irrespective of the treatment cost. So that they can just focus on the well-being of themselves and their loved ones”
The COVID-19 Protection Insurance Cover has a policy period of one year and the waiting period is for 15 days before one can claim against the policy.
About Reliance General Insurance
Reliance General Insurance, a subsidiary of Reliance Capital, is one of the leading private sector general insurance companies of India.
The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance, and offers customized solutions to meet the protection needs of each customer.