How can you safeguard yourself and your family from the impending third wave of COVID-19?
COVID -19 took the world by storm in 2019, and since then, the world as we knew it changed drastically! Everything was at a standstill when this relatively unknown but deadly virus took many lives as it continued to spread. We have adapted to being contactless and digital, and our lives getting condensed into the four walls of our houses. The pandemic has brought us together in unimaginable ways, but we cannot ignore the trail of chaos that it left in its wake. We have spent the past year taking pictures of the skies from our windows, baking brownies and making Dalgona coffee. However, everyday life in the middle of the pandemic has been incredibly hard. We braced ourselves through the first wave, and the country also faced a deadly second one.
Even though there has been tremendous progress with vaccines in 2021, the battle against coronavirus is far from over. Recently India faced the furious wrath of the second wave, and the country is fast recovering from the initial shock. The gradual decline in the number of cases has proved to be only momentary. Top scientists, doctors, ministers, and government officials have already warned that the possible third wave would be more fierce than the current one. It’s been predicted to affect children predominantly. Although the news of an impending third wave might be terrifying to hear, all hope is not lost! Experts say that the effect of third-wave can be reduced significantly if proper precautions are followed diligently by everyone. While the government imposes strict lockdowns, what can you do to keep your family safe and insured? How can you cover any financial and health emergencies emanating out of the third wave? Here are five ways you can do that.
- Plan and have a conversation :
It’s always better to be safe than sorry. It’s advisable to prepare at the earliest for any possible scenarios that might occur. So, communicate with your family and friends, and come up with strategies for combating the third wave. Discuss with your family and friends about emergency responses. Discuss how and who will cover the finances in case of unforeseen circumstances that might occur. Take into account your children, elders and anyone who might be susceptible to infection.
- Purchase Health Insurance:
The biggest financial lesson that the second wave of COVID has taught us is that it is crucial to have a good health insurance plan. In case of a medical emergency, it will safeguard your lifelong savings without eroding your bank account. Insurance companies have implemented various insurance schemes to cover medical expenses related to COVID – 19. These schemes are rolled out according to guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI).
Keep yourself informed about these schemes. Talk to your insurance provider and choose the plan that is best suited for you and your family. Ensure you have a comprehensive health insurance plan for your family, which is sufficient to support simultaneous hospitalisations of all family members.
When you consider buying health insurance for COVID-19, have the following points in mind.
→ Check the eligibility criteria thoroughly. Verify that you are eligible for the particular plan and talk to your insurance provider to gather as much information as possible.
→ Carefully read all the plans and policies and choose the one that offers maximum coverage and minimum exclusions.
→ The treatment of COVID-19 is a hassle and requires emergency hospital shifts and opting for different facilities. Therefore it is important to look out for the network of hospitals with the insurance company.
- Prepare an emergency fund:
An emergency fund must be your top priority in these situations. In the unfortunate circumstance that you or your family member should contract the virus, it is crucial to have money put aside for crisis expenses. Market experts say that a portion of savings should be set aside for emergencies. Such an emergency fund must meet 6-12 months of survival needs. Battling COVID-19 infection is emotionally and financially tiring. Before you decide on the amount, consider the medical cost (like hospital admission, medical supplies and other regular medications). It should also be large enough to meet unavoidable expenses like children’s tuition fee, daily living expenses, rent, insurance premiums and EMI for at least six months. Emergency funds must also be readily accessible.
- Get vaccinated and follow proper protocols:
Here’s a buzzword that you have probably heard – “Herd Immunity”. When a sufficient proportion of the population gains immunity towards an infectious disease, it reduces the possibility of the disease spreading. Why is herd immunity relevant? It offers protection to people who cannot be vaccinated and will curb the spread of the disease significantly. To achieve herd immunity, researchers say that at least 70% of the population should be vaccinated. Vaccination is the best and only way to achieve herd immunity. The first step in preparing for the third wave is to ensure you get your shot as early as possible. It helps reduce the risk of infection and is the quickest way to get back to normalcy.
Other than that, follow COVID-appropriate behaviour as before. Wash your hands regularly with soap and disinfect surfaces frequently. Maintain proper hygiene and stay indoors as much as possible.
- Follow the guidelines issued by the government:
The government has been imposing and regulating lockdowns for a year now. As the cases rise and fall, the measures undertaken by the central and state governments also fluctuate. Always be well informed about the lockdown restrictions and diligently follow them. The casual approach that was followed as the lockdown relaxed was the main reason for the deadly increase in the number of cases during the second wave. Try not to step out too often and whenever you do, wear double masks. It is crucial to keep yourself and your family safe, as prevention is better than cure. Follow the news and stay up to date about current affairs and government policies regarding the virus.
Even though experts say that the third wave might be harmful, taking precautions and following proper rules laid out by the government and health officials will help you safeguard your family against COVID-19. The pandemic has been challenging for all of us and our families, but there is always hope. The need of the hour is to get vaccinated, stay home, stay safe and be as diligent as possible. That is the quickest way to return to normalcy.