Yes!! You should buy Corona Kavach even if you are having and a must for those not having health insurance. If you are travelling to the workplace than you should definitely buy the cover.
The ongoing COVID-19 pandemic has caused a lot of fear and anxiety in our lives because there are no vaccines or any cure available for this illness. If anyone gets COVID +ve there are chances that there may be huge medical bills running into lakhs of Rupees.IRDAI has come up with a standard COVID focused basic health insurance policy known as “Corona Kavach Policy”. Let us see in detail its feature and benefit.
Features of Corona Kavach Policy
- Available on an individual as well as a family floater basis.
- The minimum and maximum sum assured offered by the policy are Rs. 50,000 to Rs. 5,00,000.
- A person aged between 18 yr to 65 yrs can purchase this policy.
- Policy can be purchased for self, spouse, parents, parents-in-law, and dependent children up to 25 yrs of age.
- No-Pre acceptance of medical checkup required.
- Two types of cover -Base Cover on Indemnity Basis which covers COVID Hospitalization cover and Optional Cover on Benefit Basis which covers Hospital Daily Cash upto 0.5% of sum insured.
- Policy has a waiting period of 15 days from the purchase of the policy.
- The tenure of the policy is 3 ½ months, 6 ½ months, 9 ½ months including waiting period.
- Premium Payment Mode is Single.
- Road ambulance up to Rs 2000/-
- AYUSH treatment available up to the sum insured.
- Home Care treatment expense covered for a valid claim.
- Tax Exemption on the premium paid u/s 80D.
What all is covered under this policy?
a) Hospitalization Cover –
If a person has tested COVID +ve in a government authorized diagnostic centre then the medical expenses and expenses incurred on treatment of any comorbidity along with the treatment for COVID up to the Sum Insured will be covered under this policy provided the insured is hospitalized for more than 24 hrs in the hospital.
Let us see what all comes under hospitalization cover –
- Room Rent, Nursing Expenses, ICU, and ICCU charges will be covered.
- Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialist Fees whether paid directly to the treating doctor/surgeon or to the hospital will be covered under the policy
- Expenses on anaesthesia, blood, oxygen, operation theatre charges, surgical appliances, ventilator charges, medicines and drugs, costs towards diagnostics, diagnostic imaging modalities, PPE Kit, gloves, mask, etc.. will be covered under this policy.
- Ambulance charges up to Rs 2000 will be covered under this policy per insurer only if the ambulance has been availed in relation to COVID Hospitalization. This also includes the cost of the transportation of the Insured Person from one hospital to another hospital as prescribed by a medical practitioner.
b) Home Care Treatment Expenses –
If a person is tested COVID +ve in a government authorized diagnostic center and is getting treatment at home which normal course would require care and treatment at a hospital but is actually taken at home maximum up to 14 days per incident, then home care treatment expenses will be covered provided under the following circumstances –
If the medical practitioner has advised the insured person to undergo treatment at home with a continuous active line of treatment with is being monitored by a medical practitioner for each day through the duration of the home care treatment.
The insured or the family member should maintain a daily monitoring chart which includes records of treatment administered and duly signed by the treating doctor.
Cashless or reimbursement facility shall be offered under homecare expenses subject to claim settlement policy disclosed.
The expenses made related to the treatment of COVID will be covered under this policy. They are as follows –
- Diagnostic tests underwent at home or at the diagnostics centres.
- Medicines prescribed in writing consultation charges of medical practitioners
- Nursing charges related to medical staff
- Medical procedures limited to parenteral administration of medicines
- Cost of a Pulse oximeter, Oxygen cylinder, and Nebulizer.
FAQ
- Is there any limit as to how long can I stay in the hospital?
In the case of COVID hospitalization, the patient can stay at the hospital until the recovery. There is no such restriction on the number of days. Coverage available maximum up to the Sum Insured and shall be a part of the overall sum insured in the policy. - I have Health Insurance can I buy separately?
Yes, you can buy it as separate policy moreover to your regular health insurance. - My Health Insurance is about to be renewed so shall I take only CORONA KAVACH and skip regular insurance?
No, absolutely not. This is specific to COVID related and not your regular insurance. You will lose all the benefit accumulated so far and it would be considered as the fresh policy during next purchase. - How much will the premium? will it be costly?
You see premium is not that costly.
- Is there any family discount?
Yes , there is a family discount ranging from 20% to 40% . - My parents have diabetes and blood pressure will they get CORONA KAVACH?
Yes, Corona Kavach covers comorbid conditions and PED. - What expense would not be covered under CORONA KAVACH? Following is a partial list of the policy exclusions. For complete detail please read the insurance policy wording.
a> Admission primarily for investigation & evaluation
b> Admission primarily for rest Cure, rehabilitation and respite care c> Any claim in relation to COVID where it has been diagnosed prior to Policy Start Date.
d> Day Care treatment and OPD treatment - Are OPD expenses covered?
No, any expenses incurred on OPD basis will not be covered under this policy. Only medically necessary treatment certified by the registered medical practitioner in the pre-hospitalization and post-hospitalization period will be covered. - Are comorbid diseases covered in the coronavirus health insurance policy?
Under the exclusive Corona Kavach and Corona Rakshak, comorbidities and pre-existing comorbidities are covered. - What optional cover is available with CORONA KAVACH?
Hospital Daily Cash is available under optional cover. 0.5% of sum insured per day, provided company has accepted in-patient hospitalization claim. - Is there any discount for Health Care workers?
5% Discount is available for health care workers. Health care worker for the purpose of this policy shall mean doctors, nurses, midwives, dental practitioners and other health professionals including laboratory assistants, pharmacists, physiotherapists, technicians and people working in hospitals. - Can this policy be renewed?
Renewal is not available in this policy. - Does this policy cover worldwide coverage?
No, only treatment taken in the geographical boundary of India is covered. - Are medical expense covered for private hospitalisation?
Yes, medical expenses incurred on hospitalization for COVID-19 treatment are covered on Positive diagnosis of Covid in a government authorized diagnostic centre including the expenses incurred on treatment of any comorbidity. - I need to travel by ambulance, will it be covered?
Yes, provided it is for COVID related and limited to Rs 2000/- per hospitalisation. - Is the quarantine period covered?
Only homecare treatments on the advice of a registered medical practitioner and at a facility designated by the Government as a hospital for the treatment of COVID positive insured person is covered under the policy. - If I pay in cash will I get TAX benefit?
If premiums are paid in cash no tax benefits are allowed under section 80D.
Conclusion
In this uncertainties one thing is certain is to get adequately secured to fight this eventuality with financial safety. With rising cases in India and job insecurity, it’s now a must to have CORONA KAVACH for your safety.
