NEW DELHI : Buying new health insurance coverage has become difficult following the massive spread of Covid19 in recent months. Insurance companies were concerned about offering a health insurance policy to people with flu-like symptoms, even minor ones. To cope with the crisis, IRDA has designed a standard product specific to Covid called “Corona Kavachâ€. This indemnity-based individual Covid standard health policy will meet basic health insurance needs to insure the public with common policy formulations across the industry.
IRDA has mandated 30 general and health insurers to offer and market the standard Corona Kavach policy.
The Corona Kavach policy will be available on an individual and family floating basis.
Sum insured: The minimum amount insured under the Corona Kavach policy will be ??50,000 and the maximum sum insured will be ??5 lakh, in multiples of ??50,000.
Blanket: The standard Corona Kavach policy will cover hospital costs upon diagnosis of Covid on an indemnity basis and optional daily cash coverage on an indemnity basis.
The policy will also cover any comorbid condition triggered due to Covid-19 during the period of hospitalization.
The policy also covers pre-hospitalization costs for 15 days and post-hospitalization costs for 30 days.
Home treatment costs: The policy will cover the treatment costs incurred by the insured to receive home treatment for Covid in the event of a positive diagnosis for up to 14 days per incident, which in the normal course would require care and treatment in a hospital but is in fact taken while housebound.
Sub-limits: The policy will allow home care for a maximum of 14 days per incident.
Ambulance costs are worth ??2000 per hospitalization will be covered.
Optional Hospital Daily Cash coverage will be 0.5% of the sum insured per day subject to a maximum of 15 days in an insurance period for each insured member.
Policy term: The policy will be available for three and a half months (3 ½ months), six and a half months (6 ½ months), nine and a half months (9 ½ months) including the waiting period.
Eligibility: Corona Kavach font can be used by people between the ages of 18 and 65. This policy can be used for yourself, your spouse, your parents, your in-laws and your dependent children up to the age of 25.
Waiting time: There is a waiting period of 15 days before the entry into force of the coverage of the contract.
Premium: The policy will only allow one method of premium payment.
For the purposes of Corona Kavach policy, any facility designated by the government as a hospital for the treatment of Covid should also be considered a hospital.
Or buy?
You can buy a Corona Kavach policy from any of the 30 insurance companies listed below:
Acko General Insurance
Aditya Birla health insurance
General insurance Bajaj Allianz
Bharti AXA General Insurance
Cholamandalam MS General Insurance
General Insurance Edelweiss
Future Generali India Insurance
General Insurance Go Digit
HDFC ERGO general insurance
HDFC ERGO health insurance
General Insurance ICICI Lombard
IFFCO TOKIO general insurance
General insurance Kotak Mahindra
General Liberty Insurance
Magma HDI general insurance
ManipalCigna Health Insurance
Max Bupa health insurance
General Navi Insurance
national insurance
Raheja QBE General Insurance
General Insurance Reliance
Religare health insurance
Royal Sundaram General Insurance
SBI General Insurance
Star Health & Allied Insurance
Tata AIG General Insurance
The new India insurance
Oriental insurance
United India Insurance
Universal General Insurance Sompo
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