With this pandemic, more people are getting health insurance. The trend is clear. It shows that there is a shortage of options when people come looking for a policy that covers them with COVID-19 pandemic.
The outbreak of the virus is thought to be at its peak. It can stay at this peak for months. More and more people are getting infected daily. With uncertain treatment, everyone is looking for health insurance that can cover them if they catch the virus.
IRDAI seeing the need of the policy recently launched Corona Kavach Policy and mandated all the insurers to provide this policy. It is essential to know that Corona Kavach is a policy specially designed for this pandemic. It can’t replace the benefits of standard indemnity policy. All the standard insurance is covering the coronavirus the problem is with the population who doesn’t have an insurance cover.
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The waiting period of regular health insurance is 30 days. With Corona Kavach the waiting period is just 15 days which is very important in these times when you need urgent protection. Corona Kavach Policy covers pre hospitalisation cost for 15 days and posts hospitalisation cost for 30 days.
Corona Kavach also covers the treatment at home for 14 days. It covers the cost of PPEs and other consumable which standard policy may not cover.
In case you have a pre-existing illness. While treatment in hospital for coronavirus if your pre-illness starts acting up and needs to be treated it will also cover the cost up to the extent of the sum insured.
The policy offers a minimum cover of 50,000 with multiples of It ranging up to 5 Lakhs. The policy is available in 3 tenures 3 ½ months, 6 ½ months and 9 ½ months. The insurance company provides their rate charge, while some have a flat rate charge some increase the premium with pre-existing illness. This policy has the option of family floater and thus is coverage for the whole family. Insures also provide a discount when you get this on a family floater for more members. The reason for getting family floater is because with any other disease if a member catches a disease other member won’t catch the same easily. With COVID-19 the reverse is true. If a person gets COVID-19 then the chances of his family getting the same virus are high.
If you do not have health insurance currently Corona Kavach is an insurance cover which you must get. Corona Kavach will specifically cover you for the costs of COVID-19. Thus, a person with no policy now will have some cover. With the rising cases of the virus in the metropolitan areas, the numbers of beds are getting limited. By having health insurance, you may quickly get admitted to a hospital covered by your policy. Buy health insurance online and enjoy the quick process of getting cover for yourself and your family.
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