What started as a major infection across China has now gripped the whole world in its clutches. Coronavirus has affected the population of the major countries of the world and the World Health Organisation has labelled the diseases a pandemic. As of 3rd April 2020 – 10, 40, 997 confirmed cases of the disease have been recorded out of which the number of deaths stand at 55,195. (Source: https://www.worldometers.info/coronavirus/).
Given the widespread prevalence of the illness and new and new cases coming to light every day, you should advise your clients to remain safe. Even in India, the number of cases, though low, is rising steadily every passing day despite the lockdown announced by the Government. Moreover, the illness would spread quite quickly if proper preventive measures are not taken. So, here are some do’s and don’ts for yourself as well as for your clients to remain safe from Coronavirus –
Do’s
- Advise your clients to buy a mask and wear it at all times when they are going out. Masks are the first protection which individuals can take to ensure that they don’t breathe in the virus.
- Hands should be washed thoroughly with soap or a hand wash. Hand sanitizers should be used religiously to kill germs which stick to hands.
- When you visit your clients, keep a distance of at least 3 feet.
- If you or your clients suffer from cough, cold or flu-like symptoms, the same should be reported to the nearest hospital. The test might come back negative but quarantine would help prevent the spread of disease if done early.
- In case of coughing or sneezing a tissue should always be placed on the mouth and nose
Don’ts
- Large gatherings should be avoided to prevent possible infection from infected individuals
- You or your clients should not touch eyes, nose, mouth frequently without washing the hands properly
- Travelling to international locations should be avoided
- When you meet your clients, avoid handshakes or any other physical contact
- If you or your clients suffer from cough, cold or flu-like symptoms postpone appointments and keep them at a later date.
Health insurance and Coronavirus
If you have sold health insurance policies to your clients, the most frequent and common question which you would get is whether the illness is covered under health insurance plans. Before Coronavirus was declared a pandemic officially, health insurance plans did allow coverage for inpatient hospitalisation if the insured suffered the illness and sought hospitalisation for treatment. Thus, the health insurance policy helped individuals infected with the virus to seek quality healthcare. However, in the present scenario, when Coronavirus has been declared a pandemic, the coverage might or might not be available. Since the incidence of the illness is lower in India, health insurance plans might allow coverage. However, some plans might deny claims given that the illness has become a pandemic. So, your clients should ask their insurance companies whether it would cover claims due to Coronavirus. The coverage decision rests on the insurance company and might be different for different insurance companies. You should, therefore, advise your clients to find out the coverage details from their respective insurance companies.
While your clients’ existing health plans might or might not cover the incidence of Coronavirus, Go Digit has launched a special health insurance plan specifically for meeting the financial implications of the disease. It is a fixed benefit health insurance policy which pays the sum insured in lump sum if the insured is suspected to be infected. The unique feature of the plan is that it allows coverage even during quarantine and even if the individual is later tested negative with the infection. Since it is a fixed benefit plan, it would pay a claim even if the illness has become a pandemic and can come to the rescue of your clients.
How far would the impact of Coronavirus be in India is still yet to be seen. However, in the meantime, you can advise your clients to practice preventive measures to avoid the infection Prevention is better than cure and as a financial advisor you should educate your clients on how to save themselves from the disease, physically as well as financially.
