IRDAI had recently mandated insurance companies to offer short-term health plans that will cover hospitalisation expenses related to the treatment of COVID-19 . This will help individuals to buy specific health cover for meeting hospital costs due to coronavirus .
Covid Kavach is an indemnity plan which pays for hospitalisation .
1) I already have health insurance cover , then do I get any benefit by opting for this separate Covid Kavach Policy ?
It is more comprehensive policy on COVID because it covers homecare, PPE and treatment of co-morbidities when hospitalised which is not covered under normal health insurance policies.
2 ) Should one go for individual or family floater policy ?
Considering the cost towards covid treatment , it is better to go for individual policy as the maximum sum assured in this policy is Rs 5,00,000/- only (Rs Five Lakhs only ) .
Secondly , Covid is very contagious and the entire family may be affected.
If one member of the family gets infected , then chances of getting infection transmitted to immediate family member is high and both ( more family members ) may need hospitalisation .
3 ) Which company policy should one go for ?
Since it is standardised policy, the features are the same across all the insurance companies . There is hardly any difference between the premiums amongst all insurance companies . As of now , 29 insurance companies are offering the Covid Kavach plans .
We suggest Star Health & Allied Insurance Co Ltd considering their wider presence across Maharashtra State as well as at nation level. They are number one medical insurance company in terms of individual policy holders ,focused only on health and its related insurance .
4 ) Is home care treatment expense covered ?
Yes but maximum upto 14 days and when the Medical practitioner advices the Insured person to undergo treatment at home . It should have daily monitoring chart , medical practitioner continuous active line of treatment . Refer the brochure attached below for detailed wording .
5 ) Policy Period and waiting period for Covid Kavach ?
Policy Period : Three and half months (3 1/2 months), six and half months (6 1/2 months), and nine and half months (9 1/2 months
Waiting Period : 15 days from the date of commencement of this policy .
6) How much is the Hospital Cash Amount payable under optional cover benefit ?
The Company will pay 0.5% of sum insured per day for each 24 hours of continuous hospitalization for treatment of Covid following an admissible hospitalization claim under this policy.
Please refer the brochure for more details and premium amount by clicking on below link
Please drop the mail to us for further queries .
Stay Home and Stay Safe !