Health Insurance Companies Offering Corona Kavach Policy

The spread of the global pandemic of coronavirus has made people realise the importance of having monetary backup for medical emergencies. During the past few years, a lot of people have lost their loved ones to the life-threatening disease of coronavirus due to the lack of quality treatment or high cost of hospitalization at the private hospitals. The rapid rise in inflation in various sectors has affected the people adversely, which has increased the demand of financial aid especially in matters of health and protection. The IRDAI has made it compulsory for all the health and general insurance providers to include a basic COVID-19 health insurance cover in their plans so that people from different groups of the society can get compensation at an affordable price in case of a medical emergency. Apart from the mandated covers, the insurers have launched separate health insurance plans which provide short term COVID-19 coverage to the policyholders.

The COVID-19 specific health insurance plans are of different types like the Corona Kavach health insurance plans and the Corona Rakshak health insurance covers. Corona Kavach policy is an indemnity based health insurance plan which covers both individuals and their family under a single plan. It provides payments based on the incurred hospitalization expenses during the treatment of coronavirus disease. This is an affordable COVID-19 specific health insurance plan which is provided by a lot of different health insurers. It covers the medical dues incurred during the treatment of the coronavirus and has a claim amount ranging from Rs. 50,000 to Rs. 5 Lakhs.

Key Features of A Corona Kavach Health Insurance Plan

A Corona Kavach health insurance policy is an affordable health insurance plan that looks after the medical bills of the policyholders incurred due to the treatment of the coronavirus disease. This health insurance plan was launched by the IRDAI specially to meet the demands of the policyholders in the times of the global pandemic. Let us look at some of the prominent features and benefits of a Corona Kavach health insurance plan:

Must Read: Features and Benefits of Corona Kavach Policy

• This plan comes with a short waiting period of around 15 days, after which the policyholders can claim the benefits of this plan.
• The premium for this plan is affordable so that people from all the groups of the society can afford to have this COVID-19 specific plan.
• It comes with an optional cover for daily hospital cash benefits for up to 15 days of hospitalization of the policyholder.
• One time payments and tax reduction benefits are also offered to the policyholders along with the other perks that are available under the plan.

Health Insurance Companies Offering Corona Kavach Policy

Following are some of the prominent health insurance providers that offer extensive and cost-effective Corona Kavach policy to the policyholders:

1. HDFC Ergo Corona Kavach Health Insurance Policy

This COVID-19 specific health insurance plan offers compensation for the hospitalization expenses like costs of PPE kits, ventilators, intensive care, medications, and much more. It compensates for the pre and post hospitalization expenses, AYUSH treatments, road ambulance charges, room rents, ICU charges, and a lot more. HDFC Ergo has a huge base of happy policyholders and it provides cashless claim benefits to the policyholders at the network hospitals linked with the insurer.

2. IFFCO Tokio Corona Kavach Health Insurance Cover

This COVID-19 specific health insurance plan can be bought for both individuals or families. It offers the policyholders the flexibility to choose the sum assured under the plan from a certain sum assured range specified by the health insurance provider. It comes in several variants which the policyholder can customize based on their requirements.

3. Bajaj Allianz Corona Kavach Health Insurance Plan

With features like nominal sub-limits, short waiting periods, extensive eligibility to get the plan, multiple options in claim amount, and much more, this health insurance cover is exclusive and provides complete protection to the policyholders against the medical dues incurred due to coronavirus disease.

Conclusion

Apart from the above mentioned health insurance providers there are several other options that are available in the market. The policyholders must analyze their choices and requirements before investing in a specific health insurance cover.

Also Read: Difference Between Corona Kavach and Corona Rakshak Health Insurance

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.