Insurance Regulatory and Development Authority
In view of the Covid 19 pandemic, the Authority has designed a standard Covid specific product addressing basic health insurance needs of insuring public with common policy wordings across the industry. The Authority has mandated general and health insurers to offer this indemnity based Individual Covid Standard Health Policy called ‘Corona Kavach’.
Key features of “Corona Kavach” are as under:
|Product Type||Available on Individual and Family Floater Basis|
|Type of Cover||1. Base Cover on Indemnity Basis- Covid Hospitalization cover
2. Optional Cover on Benefit Basis- Hospital Daily Cash
|Sum insured||Rs 50,000/- (Fifty Thousand) to 5,00,000/- (Five Lakh) (in the multiples of fifty thousand)|
|Waiting Period||15 days|
|Policy Period||Three and Half Months (3 ½ months), Six and Half Months(6 ½ months), Nine and Half Months (9 ½ months) including waiting period.|
|Eligibility||Policy can be availed by persons between the age of 18 to 65 years.
Policy can be availed for Self, spouse, Parents, Parents-in-law and Dependent Children up to 25 years of age.
|Hospitalization Expenses||Medical Expenses of Hospitalization on diagnosis of Covid shall be admissible|
|Pre Hospitalization Expenses||15 days|
|Post Hospitalization Expenses||30 days|
|Sub-limits||1. Home care treatment: Maximum upto 14 days per incident.
2. Ambulance Charges: Rs.2000/- per hospitalization.
3. Optional Cover of Hospital Daily Cash: 0.5% of Sum Insured per day subject to maximum of 15 days in a policy period for every insured member.
|Home Care Treatment Expenses||Cost of treatment incurred by the Insured person on availing treatment at home for Covid on positive diagnosis up to 14 days per incident, which in the normal course would require care and treatment at a hospital but is actually taken while confined at home.|
|Premium payment||Single Premium|
|For the purpose of this policy any set-up designated by the government as hospital for the treatment of Covid shall also be also considered as hospital.|
|Any co-morbid condition triggered due to Covid-19 shall be covered during the period of hospitalization.|
Now the Authority had issued clearance to the following 30 General and Health Insurance companies to market this Corona Kavach Policy.
|Sl. No||Name of Insurer|
|1||Acko General Insurance Ltd.|
|2||Aditya Birla Health Insurance Co. Ltd.|
|3||Bajaj Allianz General Insurance Co Ltd|
|4||Bharti AXA General Insurance Co. Ltd.|
|5||Cholamandalam MS General Insurance Co. Ltd.|
|6||Edelweiss General Insurance Co. Ltd.|
|7||Future Generali India Insurance Co. Ltd.|
|8||Go Digit General Insurance Ltd|
|9||HDFC ERGO General Insurance Co.Ltd.|
|10||HDFC ERGO Health Insurance Limited|
|11||ICICI Lombard General Insurance Company Ltd|
|12||IFFCO TOKIO General Insurance Co. Ltd.|
|13||Kotak Mahindra General Insurance Co. Ltd.|
|14||Liberty General Insurance Ltd.|
|15||Magma HDI General Insurance Co. Ltd.|
|16||ManipalCigna Health Insurance Company Limited|
|17||Max Bupa Health Insurance Co. Ltd|
|18||Navi General Insurance Ltd.|
|19||National Insurance Co. Ltd.|
|20||Raheja QBE General Insurance Co. Ltd.|
|21||Reliance General Insurance Co.Ltd|
|22||Religare Health Insurance Co. Ltd|
|23||Royal Sundaram General Insurance Co. Ltd.|
|24||SBI General Insurance Co. Ltd.|
|25||Star Health & Allied Insurance Co.Ltd.|
|26||Tata AIG General Insurance Co. Ltd.|
|27||The New India Assurance Co. Ltd|
|28||The Oriental Insurance Co. Ltd.|
|29||United India Insurance Co. Ltd.|
|30||Universal Sompo General Insurance Co. Ltd.|
The general public may avail this product by approaching the above Insurance Companies.