Needless to reiterate the impact of the ongoing pandemic, preserving health has become of prime importance. To ensure adequate health insurance coverage is available for treatment, the regulator, Insurance Regulatory and Development Authority of India (IRDAI) made it mandatory for all general and standalone health insurance companies to have a standardised policy for treatment of COVID-19. For this purpose, IRDAI introduced the Corona Kavach Policy which is a single payment policy to avail treatment against the virus.
Want to learn more about Corona Kavach and how you can file a claim for it? Continue reading to know more.
Corona Kavach Policy – Explained
Corona Kavach Policy is standard health insurance plan that is designed to cater to health concerns concerning coronavirus specifically. Being a one of the standard health insurance plans offered my many different insurance companies, the terms and conditions of this policy are same across insurers. Insuring yourself and your family with a Corona Kavach plan can help you fight the virus without having to worry about its treatment cost if required.
The inclusions under Corona Kavach policy
- Hospitalisation expenses:This policy primarily aims to offer a financial protection against treatment costs associated with COVID-19. Thus, treatment costs are covered under the policy’s scope up to the amount of sum insured. Further, this coverage also includes the costs of consumable required in such treatment like PPE kits and other makeshift treatment that is approved by the Government.
- Includes family coverage:Corona Kavach policy is not only available on individual basis but also can be extended to include other family members.
- Scalability of sum insured:Sum insured for Corona Kavach policy is available between ₹50,000 to ₹5 lakhs. This gives you an option to select the amount of sum insured in multiples of fifty thousand based on your estimation of the treatment costs that shall be required.
- Covers alternate forms of treatment:This policy is not only limited to standard allopathy treatments, but also includes other inpatient treatment from Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy also known as AYUSH.
- Pre and post hospitalisation coverage: Corona Kavach policy not only covers the treatment costs of hospitalisation, but also other costs associated with 15 days of pre-hospitalisation and 30 days of post-hospitalisation expenses.
- Flexibility of tenure:The tenure available under this policy can be selected from the following three options – 3 ½ months, 6 ½ months, and 9 ½ months. This tenure includes the waiting period of 15 days applicable as per the policy terms.
- Eligibility criteria:The policy is available for all policyholders between the age of 18 to 65 years and the coverage can be extended to dependent children from day 1 to 25 years.
How to file a claim for Corona Kavach Policy?
Insurance claim for a Corona Kavach policy can be filed in a similar fashion to a standard health insurance policy. For cashless claims you need to provide your health insurance card at one of the network hospitals at the time of admission. For emergency hospitalisation, the insurance company can be informed once the treatment has begun whereas for a case of planned hospitalisation, an application needs to be made in advance to the insurer. Once the insurance company is informed, the insurance company directly settles the bill with the network hospital and any balance above the specified coverage of your policy is required to be paid by you. For reimbursement claims, receipts like hospital bills, medical bills and other necessary documents need to be submitted to the insurance company. Post examining the validity of these expenditure, the insurance company will reimburse the pay-out from your insurance coverage. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.