Vital Insurance Coverage & Covid19 in India. What is Corona Kavach Policy?
The Claim Consultants
May 14, 2021
India is currently undergoing the second wave of Coronavirus. This wave is more deadly and worse than the last Covid wave witnessed by the nation last year. The Healthcare system is falling and with the limited healthcare facilities, we are facing a global pandemic.
An effective healthcare policy and insurance management are the needs of the hour. IRDAI (Insurance Regulatory and Development Authority of India) has come up with a specialized Corona insurance policy that covers all the healthcare benefits provided for the benefit of the insured individuals and families.
IRDAI announced the Corona Kavach Policy and made it compulsory for all general as well as health Insurance companies to offer and include this policy for their customers.
Availing of the Corona Kavach policy is made simple and a few qualifiers are marked so that the benefits of the claims are reaped by the people who need it like the policy covers those patients who are tested positive for the novel coronavirus.
The following benefits are offered by the policy:
All expenses from the pre-hospitalization stage, hospitalization stage and even home treatment are incurred by the policy
All medical expenses arising due to Covid infections are covered in the Corona Kavach Policy
Availing this policy means that the insured person is saved against all the expenses involving the treatment of the Covid-19 related infection.
The policy also covers any comorbid conditions developed during the treatment of the Coronavirus.
The Corona Kavach policy can be bought from any general or health insurance provider throughout the country. It has been made simpler to avail of this service as various insurance companies have generated online portals as well as toll-free numbers to make it easy for the Corona infected people to avail of this policy from the ease of their houses without much exertion.
Following are the details of the policy as announced by the IRDAI:
Sum insured: Rs. 50,000-5,00,000
Policy term: 31/2 months, 61/2 months, and 91/2 months.
Eligibility: Minimum:18years and Maximum: 65 years
Waiting period: 15 days from the date of the policy coming into effect
Corona Kavach Policy provides wholesome benefits when it comes to Corona treatment. It not only covers hospitalization expenses like the cost of ventilators, PPE kits, oxygen cylinders, consultation fees, and medication expenses but also home treatment expenses for those individuals who choose to treat themselves from the confinement of their homes.