The present medical crisis due to the COVID 19 pandemic has made us more aware than ever of the need for health insurance. In an effort to bring more people under the protection of medical insurance, the IRDAI (Insurance Regulatory and Development Authority of India) launched the Corona Kavach Policy. This indemnity-based health insurance is a short-term plan created specially for COVID 19.
The IRDAI has made it mandatory for all general insurance companies and health insurance providers to offer the Corona Kavach Policy. This COVID 19 health insurance plan has standardized terms of coverage across all insurers so, no matter whom you buy your policy from, your benefits will be the same.
Benefits of the Corona Kavach Policy
Here is a quick look at the main features you enjoy when you buy the Corona Kavach Policy:
- Covers treatment for hospitalisation due to COVID 19, including cost of consumables (also covers treatment at makeshift government-approved treatment facility)
- Sum insured starting at Rs 50,000 up to a maximum of Rs 5 lakhs
- Pre-hospitalisation coverage for 15 days and post-hospitalisation coverage for 30 days
- Choice of three tenures of 3 ½, 6 ½, and 9 ½ months
- Covers AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, And Homeopathy) and telemedicine charges
Do note that the Corona Kavach Policy can be only purchased by individuals who are between the ages of 18 to 65 years. Under the family floater plan, babies are covered from day 1.
How to buy the Corona Kavach Policy?
You can easily purchase the Corona Kavach Policy from the insurance company’s website through these 4 easy steps.
Step 1: Visit the website of the insurer through whom you would like to purchase your policy. Remember that the features of the Corona Kavach Policy are standard across insurance providers so, you can freely pick an insurer of your choice.
Step 2: Go to the section on the website that allows you to buy health insurance. Select the Corona Kavach Policy from the options listed. You will have to choose between the individual and family floater options.
Step 3: Now, enter the details of the person or family members to be covered under the policy. You will be asked for personal information such as full name, mobile number, email ID and gender, among other things. Then, you will have to select the sum insured and tenure of the plan. Upon filling in all these details, make sure to revise the information so that you can check for mistakes. Once you have verified all the information to be correct, go ahead to get your quote.
Step 4: Next, pay your premium either through credit/debit card, net banking, or any other mode of electronic payment that the insurer accepts. You may also have to complete KYC.
That’s it! The Corona Kavach Policy is now yours. Do remember that this health insurance plan has a waiting period of 15 days.
We hope this article has helped in improving your understanding of the Corona Kavach Policy.
Take care, practice social distancing, and stay safe.