Corona Kavach Policy in Health Insurance
Corona Kavach is the Individual Covid standard health insurance proposed by Insurance regulatory and development authority of India and is being offered by almost 30 insurance companies in India.These companies include standalone health and general insurance companies in India. Some of these companies include Acko Corona Kavach, Bajaj Allianz Corona Kavach, and HDFC ERGO Corona Kavach etc.
Let us understand the coverage and exemptions under the Corona Kavach insurance policy:-
- Entry Age: Minimum entry age is 18 years and the maximum age at entry shall be at least 65 years. Insurance companies are permitted to cover people above 65 years of age as per their product filing with the IRDA and the underwriting philosophy of the company. Children shall be covered from Day 1 of age up to 25 years.
- Family Floater: Corona Kavach policy can be taken on individual as well as family floater basis. The definition for family would be mentioned in the policy terms and conditions as legally wedded spouse, parents and parents-in-law, dependent children up to 25 years of age.
- Policy Tenure: The policy tenure of the Corona Kavach policy is of Three and Half months (3.5 months), Six and Half months (6.5 months) and Nine and Half months (9.5 months) which includes the waiting period mentioned under the terms and conditions of the policy.
- Type of Policy: Corona Kavach is an indemnity based policy which means that the insured will only be reimbursed the actual amount incurred on treatment of Corona virus up to a maximum of sum insured mentioned under the policy terms and conditions.
- Waiting period: There is a waiting period of 15 days applicable under the policy from the policy start date.
- Room Rent/ICU Limit: There is no Room rent or ICU limit under the policy. You can get the actual amount incurred on the room rent and ICU.
- Hospitalization Expenses: Hospitalization expenses such as Surgeon, Anaesthetist, Medical Practitioner, Consultants, and Specialist Fees whether paid directly to the treating doctor / surgeon or to the hospital. Anaesthesia, blood, oxygen, operation theatre charges, surgical appliances, ventilator charges, medicines and drugs, costs towards diagnostics, diagnostic imaging modalities, PPE Kit, gloves, mask and such similar other expenses.
- Ambulance Charges: Ambulance charges are paid subject to a maximum of Rs.2000 per hospitalization which means that each time the insured is hospitalized up to Rs.2000 would be paid as Ambulance charge.
- Sub Limits:Hospital Daily Cash which is an optional cover is 0.5% of Sum Insured per day subject to maximum of 15 days in a policy period for every insured member. Home care treatment can be availed maximum up to 14 days per incident.
- Home care treatment:Home care treatment is covered under the Corona Kavach policy. Home care treatment means undergoing treatment for COVID-19 at home on the advice of the medical practitioner. All the corona infected patients need not get admitted in a hospital, hospitalization is only necessary in case the patient is in severe condition where he/she is not able to breathe properly and requires external support to survive. Home care treatment should be prescribed by the doctor as and when necessary to claim under this section.
- Day Care & OPD: Day care and OPD treatments are not covered under the Corona Kavach policy as the corona treatment requires either hospitalization or home care treatment and it cannot be treated within 24 hours.
- Pre & Post Hospitalization expenses: Pre hospitalization expenses of up to 15 days prior to the date of hospitalization are covered under the Corona Kavach insurance. Post hospitalization medical expenses incurred for a period of 30 days from the date of discharge of hospital are covered under the corona Kavach policy.
- AYUSH Coverage: Corona Kavach insurance policy covers the claim costs incurred for treatment of Corona under the AYUSH systems of medicine subject to hospitalization.
- Sum Insured: The minimum sum insured under the Corona Kavach policy is Rs.50, 000/- (Rupees Fifty thousand) and the maximum sum insured is Rs.5, 00, 000/- (Rupees Five Lakhs). It is up to the customer to choose the sum insured in multiples of fifty thousand.
- EMI facility: The premium should be paid at one shot and there are no EMI options available under the Corona Kavach insurance policy.
- Pre Existing Disease: Any claim related to Covid-19 if it has been diagnosed prior to the policy start date will not be admissible under the Corona Kavach policy. However, during the course of treatment for Covid 19, the policy covers the cost of treatment for any co morbid conditions including pre-existing diseases.
- Renewal: Corona Kavach policy may be renewed for further 3.5 months or 6.5 months or 9.5 months as per the option of the policyholder. Renewals should be done before the expiry of the current policy.
- Waiting period in Renewal Policy: In case the Corona Kavach policy is renewed within time, then there would be no waiting period of 15 days applicable. Waiting period served in the previous policy would be sufficient in case of renewal.
- Sum Insured Enhancement: Sum insured can be enhanced at the time of renewal at the option of the policyholder. However the waiting period condition of 15 days has to be satisfied for the increased sum insured under the Corona Kavach policy.
- Migration/ Portability: Customers can migrate from the Corona Kavach policy to the other health insurance policy if permitted by the insurance companies and the terms and conditions of the new health insurance and the waiting period would be applicable.
- Group Corona Kavach: The insurance companies can now offer group Corona Kavach insurance policies where the terms and conditions would remain same and only the premium would change. Customers can now avail the group Corona Kavach insurance policies for their employees.
For best Corona health insurance policies please visit Health Insurance or talk to our agent to choose the best corona insurance policy.