6 frequently asked questions about Corona Kavach policy

1. 6 frequently asked questions about Corona Kavach policy. In July 2020, the IRDAI announced the launch of 2 COVID-19 specific health insurance plans, the Corona Kavach policy & Corona Rakshak policy. These are both very different kinds of plans that offer citizen affordable yet amazing financial protection against COVID-19. However, since both these plans are relatively new to the Indian insurance consumer, there are bound to be doubts & queries regarding the coverage of these plans. This article will help change this by going over some of the most commonly asked questions about the Corona Kavach policy. Hopefully, this will give you a better understanding of this policy and ensure that you make sound insurance decisions. What is the Corona Kavach policy? The Corona Kavach policy is a short-term indemnity-based insurance plan. It covers hospital bills, pre & post-hospitalisation expenses and other medical costs arising out of COVID-19 treatment. However, the coverage of the Corona Kavach policy will only apply when there is hospitalization of at least 24 hours. What is the sum insured offered under the Corona Kavach policy? The Corona Kavach policy offers a sum insured ranging from Rs. 50,000 to Rs. 2.5 lakhs. However, one can only choose a sum insured that is in multiple of Rs. 50,000.

2. What is the tenure of the Corona Kavach policy? As mentioned earlier, the Corona Kavach policy a short-term plan. Therefore, it only provides tenures of 3.5, 6.5 and 9 months. However, the good news is that the IRDAI has announced the Corona Kavach policy can be renewed for a further 3.5, 6.5 and 9 months till the 31st of March, 2020. How many people can be covered under the Corona Kavach policy? One of the benefits of the Corona Kavach policy is that it can be used to cover your entire family. This ensures that you do not have to get individual plans for each of your loved ones and cover them under the umbrella of one single plan instead. Are there any add-ons available under this policy? Yes, the Corona Kavach policy offers one add-on cover as well – the daily cash benefit. With this add-on, you can get 0.5% of your sum insured as daily cash allowance for up to a maximum of 15 days. This can go a long way in helping you cover the day-to-day expenses that you may encounter during your COVID-19 treatment. Can you port the Corona Kavach policy? Yes, in October of 2020, the IRDAI announced that policyholders could now port their Corona Kavach health insurance plans. This meant that, if a policyholder found

3. a lower premium or was not satisfied with the customer support level or had any other grievances they could now port their health insurance plan to another insurance provider! So there you have it – 6 of the most commonly asked questions about the Corona Kavach policy, now answered! We hope the information has furthered your understanding of these plans and helps you make better purchase decision. Good luck, stay home and stay safe!