Corona Kavach Policy

Corona Kavach Policy is an affordable standard health insurance policy designed to offer protection against medical expenses arising due to pandemic declared coronavirus (COVID-19). Launched by the Insurance Regulatory and Development Authority of India (IRDAI) on July 10, 2020, the policy is offered by both general and health insurers.

It is an indemnity based short-term policy that offers protection to both individuals and families. Apart from hospitalization expenses, the policy aims to cover the insured for homecare treatment, AYUSH treatment, pre-hospitalization and post-hospitalization expenses, etc. The policy promises wide coverage and prompt and quality medical treatment to the insured.

Corona Kavach Health Insurance Policy Benefits

Corona Kavach Policy comes with certain benefits which are mentioned below:

  • Short Waiting Period: Corona Kavach Policy comes with a waiting period of only 15 days, which means that the insured can start availing the policy benefits sooner.
  • Affordable Premium: As the Insurance Regulatory and Development Authority of India (IRDAI) has launched Corona Kavach Policy to ease the financial pressure during the coronavirus outbreak, therefore it is priced at an affordable health insurance premium.
  • One-Time Payment: To be covered under Corona Kavach Policy, the policyholder has to pay the health insurance premium only once, unlike regular health insurance plans. This keeps him/her at ease.
  • Optional Cover for Hospital Daily Cash: the policy comes with an optional cover of Hospital Daily Cash that can be purchased by paying an extra premium as per the requirement. With this cover, the policyholder can avail cash benefit of 0.5% of the sum insured for every completed day of continuous hospitalisation for up to 15 days.
  • Tax Benefits: The policyholder can avail tax benefits in the premium paid for this policy under Section 80D of the Income Tax Act, 1961. Note that the benefit can be availed if the premium is paid in any mode other than cash.

Top 10 Corona Kavach Policies Based on Claim Settlement Ratio

Corona Kavach Policy is an indemnity-based health insurance policy that takes care of your and your loved ones during hospitalization due to Covid-19. All health insurance companies provide coverage for coronavirus treatment-related expenses through Covid Kavach Policy. If you want to make a quick choice, refer to the list of Top 10 Corona Kavach Policies mentioned below.

Before choosing your Corona Kavach Policy, please note that the ranking of the health insurance companies has been done on the basis of claim settlement ratio as CSR is one of the prime factors to consider while making a policy purchase.

The CSR for the year ended March 31, 2019, has been taken into consideration for ranking purposes.

Top 10 Corona Kavach Policies on the Basis of CSR for the Year 2018-2019

Health Insurance Company

Claim Settlement Ratio

IFFCO Tokio

96.57%

Magma HDI

96.41%

New India Assurance

95.92%

Oriental Insurance

94.28%

Bajaj Allianz

93.68%

Care Health Insurance

92.83%

ManipalCigna

89.50%

Future Generali

87.68%

Acko

86.98%

HDFC Ergo (formerly Apollo Munich)

84.51%

(CSR As Per IBAI’s General Insurance Claim Insights Handbook For Policyholders - 4th Edition)

Corona Kavach Health Insurance Policy Coverage

Highlighted below are key inclusions under the Corona Kavach Policy:

  • Hospitalisation Expenses: Corona Kavach Policy covers the insured for hospitalisation expenses (including the treatment of comorbid conditions) arising due to a minimum of 24 hours of hospitalisation for treatment of COVID-19. The insured can claim expenses related to the Intensive Care Unit (ICU), anaesthesia, blood, oxygen, PPE kit, room rent, nursing, boarding, fees of Consultant/Specialist, etc. from respective insurance providers.
  • Pre-Hospitalisation Expenses: The policy covers the insured for up to 15 days of pre-hospitalisation expenses if related to the treatment and care required due to a positive diagnosis of COVID-19.
  • Post-Hospitalisation Expenses: The policy covers the insured for up to 30 days of post-hospitalisation expenses if arising due to positive diagnosis of COVID-19.
  • Road Ambulance Expenses: Corona Kavach Policy covers the insured for road ambulance expenses incurred for transportation to the hospital in case of emergency related to COVID-19 for up to Rs. 2,000.
  • AYUSH Treatment Expenses: The policy covers medical expenses arising due to in-patient care and treatment required due to COVID-19 under AYUSH systems of medicines like Ayurveda, Naturopathy, Unani, Siddha, and Homeopathy. The benefits can be availed for up to sum insured limit.
  • Home Care Treatment: Depending on the severity of illness, the policy covers the insured for home care treatment expenses for up to 14 days. The insured can avail several benefits under home care treatment cover including cost of medicines prescribed in writing, consultation charges, oxygen cylinder, nursing expenses, diagnostic tests undergone at home or at diagnostic centre, cost of pulse oximeter, etc.
  • ICU Expense Cover: Generally, majority of the time, a COVID-19 patient requires to be admitted in the ICU. The expenses arising from the treatment are without a doubt on a higher end. However, no need to worry as the policy covers these expenses too.
  • No Deductible: The sum insured that can be availed ranges between Rs. 50,000 to Rs. 5,00,000. But, there are no deductibles.

What Is Not Covered Under Corona Kavach Health Insurance Policy?

Although the Corona Kavach Policy offers comprehensive coverage to the policyholder, yet there are certain things which are not possible to cover. The key exclusions under Corona Kavach policy are as follows:

  • OPD And Daycare Procedures: Corona Kavach Policy does not cover any expenses incurred due to OPD and daycare procedures.
  • Investigation And Evaluation: The policy does not cover the insured for any treatment that is undergone primarily for the purpose of diagnostics and evaluation. Also, it does not cover any diagnostic expenses that are not related or incidental to the current diagnosis and treatment.
  • Rest Cure, Rehabilitation, And Respite Care: The policy does not cover expenses related to admission primarily for a rest cure, rehabilitation, and respite care. This also includes expenses related to custodial care and services to address the physical, social, emotional, and spiritual needs of the patient.
  • Testing at Unauthorized Hospital: Claim for Coronavirus prior to policy initiation is not covered or needing hospitalisation for less than 24 hours is also excluded. Moreover, in case the testing is done at any unauthorized hospital or health centre, then the claim arising from it will also not be entertained. Also claims arising because of any unproven healthcare treatment, lacking any adequate medical documents to support the claim is excluded from policy benefits.
  • Outside India: Availing treatment for COVID-19 out of India is also not covered under the Corona Kavach Policy.

How to Purchase Corona Kavach Policy Online?

To buy a Corona Kavach Policy online, you can follow the below given simple steps:

Step 1:Go to InsuranceDekho's official website and from the displayed web page choose the ‘Health’ tab.
Step 2: Enter details like phone number, name and gender. Afterwards, you will get a One time password or OTP, enter it.
Step 3: Let us know when you wish to buy the policy by choosing the option from the displayed drop down menu. Then, select ‘View Quotes’.
Step 4: Choose all the family members whom you wish to include under the policy. Thereafter, choose the ‘Continue’ option. Then, select the family members' age.
Step 5: Enter information regarding your city and email ID. Afterwards, select the ‘Submit and View Quotes’ option. All the policies from different insurance providers will get displayed on the screen. Select the one that you wish to buy and also choose the term for the same.
Step 6: After entering the necessary details make online payment through a secured payment channel.

How to File Claim for Corona Kavach Policy?

The entire claim procedure of the Corona Kavach Policy is the same as the normal health insurance plan with no major difference. The policy can be claimed either for reimbursement or cashless benefit. The steps for claim process are explained below:

  • The primary step is to intimate the insurance company regarding the claim whenever it arises. The initiation window for claim is based on hospitalisation type which needs to be followed in case of emergency and planned hospitalisation for 24 hours and 72 hours respectively.
  • When it comes to cashless claims, a pre-authorisation letter needs to be submitted seeking cashless claim permission from the insurance company. While, when talking about reimbursement options, the hospital expenses are paid by the policyholder initially from their own pocket and later register for the claim.
  • Once the claim request is approved, the hospital dues are settled directly by the insurance company or the expenses get reimbursed up to an admissible amount.

How Can I Cancel Corona Kavach Policy?

A policyholder can cancel their corona kavach policy within 15 days of buying it, on the grounds of the policy not meeting certain requirements or in case it is disappointing in terms of coverage. The paid premium amount will get adjusted according to the prevailing Insurance Regulatory and Development Authority of India (IRDAI) norms. The reason behind extending this option was to make the policy more flexible for the policy proposers.
Alternatively, the insurance provider also has all the rights to terminate the policy anytime on the basis of misleading, non-disclosure of material facts related to health or medical history, any fraudulent act at the time of claiming the policy by submitting false documents, etc. However, if any fraud or misrepresentation is found, then the insurance company is not entitled to pay even a single penny to the user.

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FAQ About Corona Kavach Policy

  • Can Corona Kavach Health Insurance Policy be purchased on an individual basis?

    Yes, a policyholder can purchase Corona Kavach Policy on both individual basis as well as family floater basis.

  • How many members can I include under the Corona Kavach Policy on a family floater basis?

     In case you are buying Corona Kavach Policy on a family floater basis, then you can include yourself, your spouse, dependent children (who are aged between 18 to 25 years), your parents and your parents-in-law. Also please note that children, who are above 18 years and are financially dependent cannot be included under family floater coverage. Moreover, the policy can offer coverage to maximum 2 adults and 3 independent children under one plan if it is bought on a family floater basis.

  • What are the terms available for Corona Kavach Policy?

    Corona Kavach Policy is available for 3.5 months (105 days), 6.5 months (195 days), and 9.5 months (285 days). 

  • Will home quarantine expenses or hospital quarantine expenses get covered under my Corona Kavach Policy?

    The Corona Kavach Policy covers homecare treatment expenses or hospitalisation expenses in case the insured individual is found to be COVID-19 positive. Therefore, just quarantine expenses shall not be covered under the policy.

  • Can I avail tax benefits if I pay the premium for Corona Kavach Policy in cash?

    No. Premiums paid in cash for Corona Kavach Policy are not eligible for tax benefits under Section 80D of the Income Tax Act, 1961.

  • Will I be covered for medical expenses if I get treated in a private hospital?

    Yes. The policy covers medical expenses incurred on hospitalisation due to positive diagnosis of COVID-19 in a government authorized diagnostic centre that includes expenses arising due to treatment of any comorbidity.

  • What is the waiting period under Corona Kavach Policy?

    Corona Kavach Policy comes with an initial waiting period of 15 days. Note that the waiting period is calculated from the date of commencement of the policy.  

  • What is the eligibility criteria to purchase a Corona Kavach Plan?

    To get coverage under Corona Kavach Policy, you need to be an Indian citizen, a Non Resident Indian, or are residing in India or an overseas citizen of India, provided you are in India while buying the policy.

  • Am I required to undergo a pre-policy medical check-up to be covered under Corona Kavach Policy?

    No. There is no requirement of pre-policy medical check-up to be covered under Corona Kavach Policy.

  • What is the premium for Corona Kavach Policy?

    Premium for Corona Kavach Policy differs from insurer to insurer and depends on several factors such as number of members covered, their age, sum insured, and many others. 

  • What is the eligibility criteria to purchase a Corona Kavach Plan?

    To get coverage under Corona Kavach Policy, you need to be an Indian citizen, a Non Resident Indian, or are residing in India or an overseas citizen of India, provided you are in India while buying the policy.

  • Is Corona Kavach Policy available for people aged above 65 years?

    No. People aged above 65 years can not buy Corona Kavach Policy as the maximum entry age to buy it is 65 years. 

  • How to Cancel Corona Kavach Policy?

    You can cancel your Corona Kavach Policy within 15 days after the policy purchase on grounds of not meeting the specific requirements in terms of coverage. Your insurance provider will adjust the premium paid as per the norms set by the IRDAI.  

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