Corona Kavach policy is a standard health insurance plan that covers medical expenses arising due to treatment of Coronavirus. In this article, we will explain the Corona Kavach policy and how it can help you.
Covid-19 has significantly increased health risks across the world. Especially, countries like India are severely hit. The rate of infection is only increasing in the country, and till the time vaccines are released, people must rely on medical treatments in case they get infected with the disease. However, medical treatments can cost a substantial amount of money, and not many can afford to pay for the expenses from savings alone. In such a situation, health insurance can provide financial assistance.
Health insurance has now become more important than ever. This is because the number of Covid-19 cases is mounting at an alarming rate. Due to this reason, the Insurance Regulatory and Development Authority of India (IRDAI) launched the Corona Kavach policy.
What to Keep in Mind Before Buying Corona KavachPolicy
Typically, a standard health insurance plan’s waiting period is 30 days. However, the Corona Kavach policy has a waiting period of 15 days. The maximum age of entry for this policy is 65 years. This policy is available in various sum insured options, such as Rs. 50,000, Rs. 1 Lakh, Rs. 1.5 Lakh, Rs. 2 Lakhs, Rs. 3.5 Lakhs, Rs. 4 Lakhs, Rs. 4.5 Lakhs and Rs. 5 Lakhs.
A policyholder might not get admitted to a network hospital as not all hospitals are allowed to treat the disease. In such a case, he/she will not be able to avail the cashless facility. This is because the Covid-19 cases are rising, and the number of hospital beds is limited. However, a policyholder can claim reimbursement facility.
Benefits of Corona Kavach Policy
Here are a few inclusions of the policy-
- Hospitalisation Expenses
Bed-charges, ICU, doctor consultation fees, PPE kits, nursing charges, etc. are covered in Corona Kavach policy.
- Pre and Post Hospitalisation Expenses
Pre-hospitalisation expenses such as doctor consultations, check-ups, etc. are covered in this policy. The cover will be provided for 15 days before hospitalisation.
Medical expenses incurred until 30 days after discharge are also covered under this policy.
- Cost of Home Care Treatment
Treatment done at home for up to 14 days is covered in this policy.
What is Not Covered in Corona Kavach Policy
Here are some of the exclusions of the policy-
- Day Care Treatments
Medical expenses arising due to day care procedures or OPD treatments will not be covered.
- Unauthorised Testing
The cover will not be provided if the testing is done at a diagnostic centre that is not authorised by the government.
- Medical Expenses Incurred Outside India
Medical expenses for treatments outside India will not be covered.
- Unproven Medical Treatments
Treatments that are authorised by the government will be covered. However, the cover will not be provided for unproven treatments.
Any expenses related to vaccines, inoculations, or other preventive treatments will not be covered.
With the rising number of COVID-9 cases and with the huge amount of expenses incurred for the treatment, it is wise to have a CoronaKavach Policy. Also, few insurance providers have allowed coverage for Corona treatment in the regular health insurance policy.