Amid coronavirus spikes across the country in the last few months, the Insurance Regulatory and Development Authority (IRDA) has designed a standard COVID-19 specific standard health policy insurance plan ‘Corona Kavach’. that will address the basic health insurance needs of the public with common policy wordings across the industry.
This ‘Corona Kavach’ policy will provide hospitalization expenses, such as room and boarding charges, gloves, masks, PPE kits, and similar costs to those between 18 and 65 years of age who can buy this product.
— Zee News (@ZeeNews) July 11, 2020
The minimum sum insured under the Corona Kavach Policy will be ₹50,000 and the maximum sum insured will be ₹5 lakh, in the multiples of ₹50,000. It will cover hospitalization expenses on the diagnosis of COVID on an indemnity basis and an optional cover of daily cash on a benefits basis.
Corona Kavach Policy will allow home care treatment for maximum upto 14 days per incident. It also includes Ambulance charges worth ₹2000 per hospitalization will be covered. Optional cover of Hospital Daily Cash will be 0.5% of sum insured per day subject to a maximum of 15 days in a policy period for every insured member.
The policy will be available for three and half months (3 ½ months),six and half months (6 ½ months), nine and half months (9 ½ months) including the waiting period.
Here is a list of 29 Insurers to market Corona Kavach policy:
Acko General Insurance
Aditya Birla Health Insurance
Bajaj Allianz General Insurance
Bharti AXA General Insurance
Cholamandalam MS General Insurance
Edelweiss General Insurance
Future Generali India Insurance
Go Digit General Insurance
HDFC ERGO General Insurance
HDFC ERGO Health Insurance
ICICI Lombard General Insurance
IFFCO TOKIO General Insurance
Kotak Mahindra General Insurance
Liberty General Insurance
Magma HDI General Insurance
ManipalCigna Health Insurance
Max Bupa Health Insurance
Navi General Insurance
Raheja QBE General Insurance
Reliance General Insurance
Religare Health Insurance
Royal Sundaram General Insurance
SBI General Insurance
Star Health & Allied Insurance
Tata AIG General Insurance
The New India Assurance
The Oriental Insurance
United India Insurance
Universal Sompo General Insurance