What Is Corona Kavach Policy?

COVID-19 Health Insurance - 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

Corona Kavach Health Insurance Policy Benefits 

  • 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

  • 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. 

What Is Not Covered Under Corona Kavach Health Insurance Policy?

  • 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. 

 

Health Insurance Corona Kavach FAQs

  • Can I purchase Corona Kavach Health Insurance Policy on an individual basis?

    Yes. You can purchase Corona Kavach Policy either on an individual as well as floater basis.

  • Who can be included on a floater basis under Corona Kavach Policy?

    If purchased on a floater basis, Corona Kavach Policy can cover legally wedded spouse, dependent children aged between 18- 25 years, parents, and parents in-law. Kindly note that if the child is above 18 years and is financially independent, then he/she can not be included in the floater coverage. Also, note that the policy can cover up to 2 adults and 3 dependent children under a single policy if purchased on a 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). 

  • Is the quarantine period covered in Corona Kavach Policy?

    You will only be covered for home care treatments under Corona Kavach Policy provided the treatment is advised by a registered medical practitioner and undergone at a facility designated by a government hospital on positive diagnosis of COVID-19. 

  • 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.  

  • Can I renew my Corona Kavach Policy online?

    No. As Corona Kavach is a short term policy, therefore renewals are not applicable.

  • 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. 

  • Can I buy the Corona Kavach Policy for my family?

    Yes. You can purchase Corona Kavach Policy for your family.

  • 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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