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Business EconomyPosted at: Apr 8 2020 1:13PM


Reliance launches COVID-19 protection insurance; offers unique benefits like loss of pay, waiver of travel exclusion

Bengaluru, Apr 8 (UNI) Reliance General Insurance (RGI), a 100 per cent subsidiary of Reliance Capital, on Wednesday 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 per cent of the sum insured in lumpsum on positive diagnosis of COVID-19 and 50 per cent of the sum-insured during Quarantine in a statement issued here on Wednesday.
Anyone aged between three months to 60 years can avail the policy, for a wide range of Sum-Insured options from Rs 25,000 to Rs 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 per cent 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.
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Tags: #Reliance launches COVID-19 protection insurance; offers unique benefits like loss of pay# waiver of travel exclusion
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