Everything You Need to Know about Corona Kavach Policy: Features and Benefits

At a time when Covid-19 cases were rising in India, the Insurance Regulatory and Development Authority of India (IRDAI) mandated insurers to provide a standard health insurance product called Corona Kavach policy. This is in an indemnity policy covering various types of medical expenses arising out of a Covid-19 affliction — still relevant as the country is yet to recover completely from the crisis, especially considering the new variants gaining ground globally. 

The Covid Kavach policy covers hospitalisation expenses, home care treatment, comorbid conditions and AYUSH treatment for any Covid positive patient. The policy provides wide coverage at an affordable premium, useful for anyone without a complete health plan. 

Take a look at the features, benefits and coverage of this coronavirus insurance policy.

Also read: https://navi.com/blog/critical-illness-insurance/ 

What are the Unique Features of Corona Kavach Policy?

Base cover 

This includes coverage of the following expenses:

• Covid treatment-related hospitalisation expenses
• Expenses involving home care treatment
• AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) treatment costs
• Up to 15 days of medical expenses before getting admitted
• Up to 30 days of medical expenses after getting discharged

Optional cover

The insurer will pay 0.5% of the insured sum as daily hospital cash for every 24-hours of hospitalisation for a tenure of 15 days. 

Cover for hospital-related expenses

The insurer will pay hospital-related expenses following a positive diagnosis of Covid-19 at a Government-approved testing centre. Corona Kavach covers fees of surgeons, anaesthetics, consultants, specialists, room rent, nursing expenses, ICU (Intensive Care Unit) expenses, etc. 

Tenure

This policy is available in three different tenures:

• 105 days (three and half months)
• 195 days (six and half months)
• 285 days (nine and half months)

Total insured sum

The insured sum starts at Rs. 50,000 and continues in multiples of Rs. 50,000 up to Rs. 5 lakh.

Additional features 

Covid Kavach is available on an individual and family floater basis. One can add his/her spouse, parents, dependent children and in-law parents as family members. It also covers any comorbid condition triggered by Covid-19.

Benefits of Getting the Covid Kavach Policy

The following are some of the most useful benefits of getting the Corona Kavach policy:

• Besides covering medical bills, the Corona Kavach policy covers the costs of consumables like PPE kits, masks, sanitisers, etc.
• The policy has a very short waiting period of 15 days, which allows the insured person to get financial coverage sooner.
• Unlike many regular insurance policies, the insured person has to pay the premium only once. 
• The Corona Kavach policy covers all sorts of expenses like ambulance fees, diagnostic tests, oxygen cylinder costs, medicines, etc.
• This policy offers a daily allowance (hospital cash) covering all extra expenses arising as they are treated by the hospital. 
• It is a standard policy and offers an affordable premium to ease people’s financial burden. 
• The insured person can avail of tax exemption under Section 80D of the Indian Income Tax Act, 1961 with the Corona Kavach. 

Also Read: https://navi.com/blog/medical-insurance-for-family/ 

Cost of Premium of the Corona Kavach Policy

If you are looking for affordable rates for the Corona Kavach policy, you can take a look at the following rates provided by Navi General Insurance Limited. Download the Navi App app from Google Play, and opt for this policy instantly.

Office Premium – Post Tax Rates (Including 18% Service Tax)

Sum insured	Rs. 50,000	Rs. 1,00,000	Rs. 2,00,000	Rs. 3,00,000	Rs. 4,00,000	Rs. 5,00,000
Tenure- 3.5 Months	Rs. 1,618 – Rs. 1,914	Rs. 2,272 – Rs. 3,743	Rs. 2,302 – Rs. 6,997	Rs. 2,365 – Rs. 8,068	Rs. 2,589 – Rs. 9,347	Rs. 2,764 – Rs. 10,342
Tenure- 6.5 Months	Rs. 2,427 – Rs. 2,871	Rs. 3,407- Rs. 5,613	Rs. 3,454 – Rs. 10,494	Rs. 3,547 – Rs. 12,100	Rs. 3,883 – Rs. 14,018	Rs. 4,145 – Rs. 15,511
Tenure- 9.5 Months	Rs. 2,912 – Rs. 3,446	Rs. 4,088 – Rs. 6,737	Rs. 4,144 – Rs. 12,594	Rs. 4,256 – Rs. 14,521	Rs. 4,660  – Rs. 16,823	Rs. 4,974 – Rs. 18,615

What is Included Under Corona Kavach Policy?

• The policy covers ambulance charges of up to Rs. 2,000 when transferring the patient. 
• The policy offers a daily cash allowance of 0.5% of the insured sum as an optional cover.
• Corona Kavach covers medical expenses for 15 days prior to getting admitted to a hospital. It also covers 30 days of medical expenses after discharge. 
• ICU and ICCU expenses arising out of Covid positive diagnosis are covered.
• Some insurers provide no cap on room rent.
• The policy covers home care and AYUSH treatment.
• Corona Kavach does not have any applicable deductibles (threshold limit after which an insurance policy takes effect).

What Expenses Are Excluded from the Corona Kavach?

• Covid Kavach does not cover any unproven treatments, procedures or medicines that lack significant medical proof behind their effectiveness. 
• It does not cover expenses related to OPD (outpatient department) and daycare treatment.
• The policy will not pay for the costs of buying any dietary supplements purchased without a prescription. 
• Corona Kavach also does not pay for expenses of any diagnosis that is not directly related to Covid-19 affliction. 
• If someone has already been diagnosed with Covid-19 before purchasing the policy, he/she cannot avail of its benefits. 
• It will not cover insured people who have travelled to a destination restricted by the Indian Government.

What To Do If You Wish To Cancel The Corona Kavach Policy?

Anyone insured with the Corona Kavach can cancel it within 15 days of buying the policy. So, if you do not meet the specific requirements of the insurance plan or find it unsatisfactory, you can always discontinue your plan. 

As per IRDAI norms, the insurer will adjust the paid premium amount. This is meant to provide more flexibility to insured people. 

The insurer, too, has the right to terminate a policy on the grounds of misleading or non-disclosure of certain facts. This includes information related to medical history, false documents or any fraudulent act. In such cases, the insurer provides a seven-day termination notice and may not refund any money. 

Final Word

With life slowly returning to normal, people will want to safeguard themselves from Covid-19 as much as possible. 

Individuals can protect themselves from the virus with Covid-19 vaccines and cover themselves financially by purchasing a coronavirus insurance policy. The Corona Kavach policy provides the most extensive coverage, making it ideal for those who are vulnerable to risks, like healthcare workers and the elderly. 

If you wish to buy any health insurance plans, then visit the Navi App today and choose a plan which suits best for you.  

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