The Corona Kavach Policy was launched by the IRDAI (Insurance Regulatory and Development Authority of India) as a health insurance plan dedicated exclusively to covering COVID 19 hospitalisation. This plan is indemnity-based. To raise a claim, the patient needs to be admitted to hospital for a minimum of 24 hours due to COVID 19.
In these difficult times, the Corona Kavach Policy has proven to be a huge boon. Now, you do not need to worry about having to pay for huge hospitalisation expenses from your savings account if you are hospitalised due to COVID 19. To understand how the Corona Kavach Policy works, let’s take a closer look at the coverage it gets you.
What is covered under the Corona Kavach Policy?
The Corona Kavach Policy covers hospitalisation due to COVID 19. The hospitalisation costs also include the costs of PPE and other consumables. Apart from this, there is also coverage for inpatient care done by AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy). Pre-hospitalisation costs are covered for 15 days and post-hospitalisation costs are covered for 30 days. Additionally, telemedicine charges are also covered. The insured individual can also make a valid claim if they are being treated at a makeshift treatment centre that has been approved by the Government.
What is the sum insured?
The Corona Kavach Policy is available in a sum insured that ranges from Rs 50,000 to Rs 5 lakhs. You can choose your preferred sum insured in multiples of 50,000.
Who can buy coverage?
The Corona Kavach Policy can be purchased by anyone between the ages of 18 to 65 years. The policy is available for individual coverage and as a family floater plan as well. In a family floater plan, coverage for a baby begins from day 1 of age.
What is the policy tenure?
The Corona Kavach Policy is available for purchase in three short tenures of 3 ½ months, 6 ½ months, and 9 ½ months.
Are there any exclusions?
Yes, there are certain exclusions to coverage. The policy will not cover any claim for COVID 19 made before the start date of the coverage. Also, daycare and OPD are excluded. For your claim to be valid, your test should have been done at a Government-authorized center. Your coverage will also come to a halt if you travel to a country that has been restricted for travel by the Government of India.
We hope that this article has helped you get a better understanding of the Corona Kavach Policy and how it can cover you during the pandemic. Make sure to always read the policy wordings before buying any insurance plan. Do remember that this policy only covers COVID 19. For other illnesses, you would need to take a standard medical insurance plan and also, perhaps, a critical illness insurance plan. Keep your coverage renewed at all times so that you are never caught unawares.
Take care, stay safe.