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| Corona Kavach Policy : Health Care Insurance Policy |
Corona Kavach Policy
As corona virus cases are increasing day by day across the country, the Corona Kavach Policy and Corona Rakshak Policy issued by IRDA will prove to be an important step towards health in this corona pandemic.
The Corona Kavach Insurance Policy Package will be released by various insurance companies from July 10, 2020 all over India.
Corona Kavach Policy Details
This policy has been made primarily to cover the expenses incurred in hospitalization due to corona virus disease.
Eligibility criteria
This insurance policy can be used by anyone between 18 and 65 years old, in which the policy holder can be added to dependent children ranging from New Born Baby to 25 years.
◉ Minimum age of Entry : - 18 year
◉ Maximum age of Entry : - 65 year
In order to get the cover claim of any policy related to Corona Kavach , it is mandatory for the insurance holder to have the Corona Test Report from the Government Authorized Diagnostic Center.
Type of Police Plan
Individual plan
In individual insurance plans, only and only the insured holder can use the Corona Kavach Insurance Policy if required.
Floater Family plan
In this insurance plan of Corona Kavach, the policy holder also covers his spouse, dependent children, parents and parents in law with a slight premium.
Assured Amount of Policy
The sum received from the Corona Kavach Insurance Policy is between 50 thousand to 5 lacs, which will act as a bliss for the insurance holder in the Corona Pandemic.
◉ Minimum sum assured: - INR 50,000
◉ Maximum sum assured: - INR 5,00,000
Waiting Period
There is a waiting period of 15 days for the holder of the corona Kavach policy during which the insurance holder cannot be consumed with this policy if it is found to be positive to the corona virus within the first 15 days of receiving the insurance.
◉ Policy waiting period : - 15 days
Policy Period
Three types of policy periods 3 ½, 6 ½ and 9 ½ are introduced in the Corona Kavach Policy.
◉ 3 ½ months / Three and half months. (105 days)
◉ 6 ½ months / Six and half months. (195 days)
◉ 9 ½ months / Nine and half months. (285 days)
Cover of Corona Kavach Policy
This policy covers all hospitalization costs during Covid-19 disease such as room rent, bonding, nursing, ICU expenses, surgeon, anesthetist, medical practitioner, consultancy, specialist fees, blood, oxygen, operation theater, Surgical equipment, ventilator fees, medicines and various testing fees, PP kits, gloves, masks, and other such expenses etc.
A minimum 24-hour hospitalization for the claim is extremely necessary.
Along with this, the cost of road ambulance is also given in this policy.
Ambulance expenses: - Maximum INR 2,000 per hospitalization
Generally, this policy is only and only to cover the claim of Covid-19 but some coverage areas have been added to it which is as below
Comorbid Conditions
The policy will cover the cost of treatment of any kind of comorbid conditions, including the pre-existing comorbid conditions along with the treatment for Covid-19.
This situation implies that if the policy holder has started having any other disease problem with the corona or the pre-existing disease has increased due to the corona, then in that case this policy covers the entire treatment expenditure.
Home-care treatment
This policy also covers the expenditure in Home Quarantine in case the policy holder is made home quarantine by the hospital.
This policy covers the cost of home-care treatment for a maximum of 14 days.
AYUSH Treatment
Ayurveda, Naturopathy, Unani, Siddha and Homeopathy etc. expenses of treatment shall be covered under the policy.
Use this cover for mode of treatment under government approved hospital only.
Pre & Post Hospitalization
This policy also has the facility of pre & post hospitalization under which the expenses up to a maximum of 15 days before hospitalization and up to a maximum of 30 days after discharge will be covered in the policy claim.
Pre hospitalization: - 15 Day
Post Hospitalization: - 30 Day
Hospital Daily Cash
This is an additional cover option for which the insurance holder has to pay an additional premium. Where the insurance holder receives 0.5% of the sum insured of the policy up to a maximum of 15 days at the time of hospitalization.
Hospital Daily Cash: - 0.5% of sum insured per day maximum 15 days
for example
if sum insured: - INR 1,00,000
than daily cash: - INR 500
The sum of all types of policy cover claims shall not exceed the sum assured of the policy taken by the insurance holder i.e.
Covid-19 Hospitalization expenses + Ambulance expenses + Home-care Treatment expenses + Ayush treatment expenses + Pre & Post Hospitalization expenses + Hospital daily case = Sum Assured Amount
Corona Kavach Policy Premium
For all types of insurance companies the terms and policy of the Corona Kavach Insurance Plan will remain the same, but there will be a slight change in the premium.
◉ The policy provides tax benefits under section 80D.
◉ Cashless Claim facility is available only in Network Hospital. Check the information of Network Hospital List while taking the policy.
◉ The facility of reimbursement is available in network & non-network hospital.
◉ Discounts are provided with the family floater plan.
Conclusion
This time of corona virus is passing very terrible, where thousands of people are getting vulnerable to corona virus every day, in such a time it's very important to you have an insurance plan where you can protect yourself and other protected very well. If you do not have any type of health insurance policy and mediclaim, then you must take the Corona Kavach policy. If you have a health insurance policy, then you should take Corona Rakshak policy without taking Corona Kavach Policy, it will be more beneficial for you.
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