Nepal:Free COVID-19 insurance scheme launched for government employees

The Beema Samiti (Insurance Board of Nepal) has launched a COVID-19 insurance scheme for government employees which was announced by the government in its fiscal budget for 2020.

Under the scheme, government employees who are Nepal citizens will get free cover and their families will get a 50% subsidy on the premium for purchase of the COVID-19 policy.

Addressing a press conference Beema Samiti Chairman Chiranjibi Chapagain said that the 50% subsidy can be availed only if all family members are insured collectively, for which they must submit a self-declaration form and documents certified by the concerned local authority that they have not contracted the virus. Moreover, all procedures related to the risk assessment system as prescribed in the coronavirus insurance standards of 2020 must be complied with.

The insurance scheme will be available under two categories for sum assured of $835 and $418, for which premium amounts are $8 and $4 respectively. For collective insurance of family, the subsidised insurance premium will be $5 per person for a cover of $835 and $2.5 per person for cover of $418.

Claims will be settled within seven days of making the claim if an insured person tests positive for the virus from PCR tests conducted in one of the labs accredited by the ministry of health and population. In case of death of the insured the claim, amount will be paid to the next of kin or the nominee mentioned in the policy.

Source: Asia Insurance Review

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