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.
What are the Unique Features of Corona Kavach Policy?
1. 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
2. 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.
3. 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.
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)
5. Total Insured Sum
The insured sum starts at Rs. 50,000 and continues in multiples of Rs. 50,000 up to Rs. 5 lakh.
6. 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.
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 and opt for this policy instantly.
Office Premium – Post Tax Rates (Including 18% Service Tax)
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 Kavachcan 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.
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.
Q1. How to file claims for the Corona Kavach policy?
Ans: Insured persons can file for cashless claims by sending a request form to the appropriate TPA (Third Party Administrator). They can also pay for their own treatment and file for reimbursement with the TPA.
Q2. What is the required age limit for Corona Kavach?
Ans: The minimum age limit for this policy is 18 years, and the maximum age limit for entry is 65 years. Dependent children under Corona Kavach can be up to 25 years of age.
Q3. Can you renew this policy?
Ans: Yes. Insurers can let you renew your Corona Kavach policy for a further period of 3.5 months, 6.5 months, and 9.5 months.
Before you go…
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