Edelweiss Tokio Life Insurance Co. Ltd has launched India’s first individual covid-19 life insurance product—Covid Shield+. It’s a fixed-benefit online plan for which medical tests are not required.
It’s a single-premium policy with a one-year tenure, but has multiple features that can appear complex.First, there’s a life cover, which is just 1.25 times the premium paid, and is meant to cover non-covid death.
For covid-19-related risks such as hospitalization and death, there’s an additional cover. This cover is substantial—between ₹25 lakh and ₹50 lakh.