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Star Novel Coronavirus (COVID-19) Insurance Policy
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Star Novel Coronavirus (COVID-19) Insurance Policy

Star Novel Coronavirus Insurance policy is a pilot product offered by the insurer to deal with the contagious pandemic COVID-19.  A plan like this works as a top-up cover, which offers a lump sum amount on diagnosis of coronavirus.

The treatment cost of COVID-19 is high, which may burn a hole in the pocket. So a coronavirus dedicated health insurance policy like Star Novel Coronavirus policy will cover the cost of hospitalisation to reduce the financial burden on the person insured. It also covers all treatment-related costs on hospitalisation as per IRDAI.

What is Star Novel Coronavirus (COVID-19) Insurance Policy? 

The Star Novel Coronavirus (COVID-19) Insurance Plan is a lump-sum benefit policy in which the amount is paid in case the person insured is diagnosed positive and hospitalised with nCoV after buying the plan. There are two available sum insured options of Rs 21,000 and Rs 42,000. The plan is issued on an individual basis only. It can cover the policyholder or spouse and one dependent child. Sum insured is based on an individual basis. In this policy, no pre-medical tests or screening is required. A person can only claim if the policyholder is declared COVID-19 positive by a test accredited by the government and they must be hospitalised for Novel Coronavirus.

Features of Star Novel Coronavirus (COVID-19) Insurance Plan

Features of Star Novel Coronavirus (COVID-19) Insurance Plan are:

In this Star COVID-19 policy, if the policyholder gets infected with Novel Coronavirus on diagnosis with a Government-authorised lab centre, then the company will pay the expenses up to the sum insured. The amount will be paid in a lump-sum.

  • The lump-sum amount payment will only be paid on hospitalisation and positive report on the diagnosis of nCoV or COVID-19 from the centre authorised by the Government.
  • On payment of the lump-sum amount, the policy will terminate.
  • The Star Coronavirus Policy is a unique policy that is specially designed to cover against the deadly viral COVID-19 infection.
  • The policy comes with a 1-year tenure and sum insured options of Rs 21,000 and Rs 42,000.
  • The policy covers only Novel Coronavirus in comparison to other health insurance policies.
  • A 16-days waiting period is applicable to claim the policy. 

Benefits of Star Novel Coronavirus Insurance Policy

The Star Novel Coronavirus Insurance has many unique benefits which include:

  • The policy has a lower waiting period as compared to other health insurance policies. The waiting period of the policy from the date to receipt of the plan is 16 days.
  • No medical testing or screening is required for applying for this policy.
  • The plan covers treatment expenses of the infected person by Novel Coronavirus or (COVID-19) and hospitalisation due to it, which covers the person insured and up to one dependent child for a policy period of one year.
  • Automatic termination of the policy: This insurance has a termination value provided to the policyholder under which the policy will automatically terminate at the occurrence of one of the following events:
  • On the death of the person insured
  • On 100% payment of the sum assured.
  • On the expiry date of the policy schedule
  • The policyholder gets a grace period of 30 days for the renewal of the policy from the due date of the policy.
  • The policyholder can return the policy if they are not satisfied with the policy terms within 15 days free-look period from the date of commencement of the policy. The premiums paid shall be returned to the policyholder.
  • All premiums paid against this Star Coronavirus Insurance policy are eligible to get tax benefits under Section 80(D) of Income Tax, 1961.

Inclusions of Star Novel Coronavirus Insurance Plan (COVID-19)

Inclusions of Star Novel Coronavirus Insurance Plan are:

If the policyholder during the period of the plan is diagnosed with or contracts Novel Coronavirus (COVID19), which requires hospitalisation, then the Star Health Company is liable to pay up to the sum insured to cover the expenses as mentioned in the policy document. 

  • The lump-sum payment will be made only on hospitalisation & report of a diagnosis of Novel Coronavirus (COVID19) from an Authorised Centre from the Government.
  • Once the lump sum payment is made, the policy will cease.

Exclusions of Star Novel Coronavirus Insurance Plan

Exclusions of Star Novel Coronavirus Insurance Plan are:

The Star Health Company will not be liable to pay the lump-sum amount under the policy if: 

  • There is no hospitalisation of the person insured irrespective of whether the person is quarantined or not.
  • The plan will not cover any other illness, disease or sickness other than (COVID-19) Novel Coronavirus.
  • Any claim made within the waiting period of the plan from the date of commencement of the policy with respect to Novel Coronavirus (COVID-19) manifested or contracted or the onset of disease.

*This list is only indicative and not exhaustive. The insured may refer to the policy document for the complete list 

Eligibility Conditions of Star Novel Coronavirus Insurance Plan

The minimum eligibility to buy this policy includes:

  • Minimum entry age of the policyholder - 18 years
  • Maximum entry age of the policyholder - 65 years
  • Entry age of the child - Below 18 years must be dependent on the parent, and one of the parents must be insured in the policy.
  • Premium rates applicable:
  • 299/- +GST for Rs 21,000/-
  • 598/- +GST for Rs 42,000/-
  • Policy Term: 1 year
  • Pre-medical screening: No pre-medical screening required
  • Sum insured options: Rs 21,000/- and Rs 42,000/-

Claim Procedures of Star Novel Coronavirus Insurance Plan

Upon the detection of Novel Coronavirus disease, which gives rise to a valid claim in this policy, the policyholder must inform the company about the contraction of the disease within 15 days from the date of diagnosis of the of Novel Coronavirus (COVID-19).

For the Processing of a Claim

  • Step 1: The claim is made on a positive diagnosis of Novel Coronavirus (COVID-19). For the claim process, the person insured should notify the policy provider company on detection and hospitalisation against the treatment of Novel Coronavirus. The person insured or the nominee is required to present necessary documents like the policy document and policyholder's health card at the hospital's network hospital.
  • Step 2: Within 15 days of diagnosis and detection of Novel Coronavirus (COVID-19), the policyholder must submit the required claim form. The claim has to be made by notifying the insurer at the earliest.
  • Step 3: The policyholder or the nominee can apply for a claim online. To fill-up, the form online, enter the required details asked such as a policy number, the hospital name where the patient is treated, and other necessary details. After filling the claim form, upload the necessary documents like a positive report of Novel Coronavirus, prescriptions, and other such details. On completion, submit the claim form.
  • Step 4: The company will verify the documents and the claim. On completion of the verification process, the policy provider company will notify the person insured.
  • Step 5: The policy company will transfer the lump-sum amount through NEFT.

Required Documents for Claim Settlement Process

The person insured or nominees who are claiming on behalf of the person insured must submit the required documents within 15 days on the detection of the Novel Coronavirus. The documents required to be submitted are:

Fully completed signed claim form with all necessary documents.

  • Information on medical records
  • A diagnostic test that confirms the existence of Novel Coronavirus (COVID-19) from Authorized Centers by the Government.
  • Copy of PAN Card, Aadhaar Card or any other Government ID card.
  • The company will examine and verify the documents. On successful completion of verification, the company will accept the claim.

How to Buy the Star Novel Coronavirus Insurance Plan? 

The steps to buy Star Novel Coronavirus Insurance Plan are:

  • Step 1: Visit Paisawiki.com and search for Star Coronavirus Insurance policy to buy. Read about benefits, eligibility and coverage of the plan. At the very top of the, some personal details are asked like the number of members, mobile number, income, city, name & email address.
  • Step 2: On entering the required details, select the 'Get Free Quotes' option. There are various policies shown related to Coronavirus coverage. It also shows various plans benefits and the cover along with unique features of each policy. The policyholder must check the plan details on clicking the 'View Features' option.
  • Step 3: The person insured may choose to buy the Star Coronavirus Insurance policy or compare with various other corona specific plans online by selecting the compare option button at the bottom left of the website. The person to be insured can also shortlist various policies on the page. Once done comparing, select on the button to calculate the premiums to be paid per month, which is calculated for every plan.
  • Step 4: In the next section, the sum insured and base premium are chosen. Select the policy tenure. In the next section, there are various tabs like contact information of the members. Choose the edit button to enter personal information. After filling up the information, go to the next tab.
  • Step 5: One can see there are various tabs for benefits, key features, brochures section and documents section which contains policy terms, proposal form, claim form, product leaflet and premium chart. There is a box that contains important information on the insurer and its terms & conditions.
  • Step 6: One can choose among the various riders which are available below the tabs. One can select those for increasing coverage.
  • Step 7: In this page, the final premium will be calculated. Enter the other information related to the insured person like full name, date of birth, email address, weight, height & their occupation. Input basic medical history. Choose the next button.
  • Step 8: It is required to agree to the terms & conditions of the policy & select the proceed button. In this section, the proposal details are sent to the person insured's email id. Select the 'proceed to payment' button.
  • Step 9: Enter card details. One can choose to pay the premium amount through debit card, net banking, credit card, UPI, wallet and EMI. Pay the premium amount. 

Documents Required to Buy Star Novel Coronavirus Insurance Plan

To apply Star Novel Coronavirus Insurance Plan, the required documents are:

For age proof any one of the documents is required:

  • Aadhar Card
  • Birth Certificate
  • Coloured photograph
  • Driving License
  • Passport,
  • PAN card
  • School Leaving Certificate
  • Voter Card 

For address proof any one of the documents is required:

  • Bank A/C statement
  • Electricity Bill
  • Passport
  • Postpaid Bill
  • Ration Card
  • Telephone Bill
  • Utility Bill

For photo ID proof any one of the documents is required:

  • Aadhar Card
  • Driving License,
  • Voter ID
  • Passport
  • PAN card

Renewal Process of Star Novel Coronavirus Insurance Plan

For policy renewal, go to Paisawiki.com and select the policy renewal option, enter the date of birth and policy number. Upon entering the required details, the website will automatically check the policy's renewal status. The policy number, premium amount, and the person insured's name will be shown with an option to remove or add orders or members. After making the changes, if any, the premium amount will be calculated. Select the 'pay premium' option for completing the renewal process by entering the card details. 

Note: One thing to be mentioned here is this policy might not be renewed in case the policy provider company chooses to withdraw the plan after one year. Moreover, the renewal might not be allowed on this policy after a year. 

FAQs About Star Novel Coronavirus Insurance Plan

Written By: Paisawiki - Updated: 27 July 2020

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