Corona Kavach Policy offers financial protection to the insured in case he/she is diagnosed COVID-19 positive. It comes with a short waiting period, and offers coverage for in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, ambulance expenses, etc.
*Standard Terms and Conditions Apply.
**Tax benefits are subject to changes in Income Tax Act.
Corona Kavach Policy is an affordable standard health insurance policy designed to offer protection against medical expenses arising due to pandemic declared coronavirus (COVID-19). Launched by the Insurance Regulatory and Development Authority of India (IRDAI) on July 12th, 2020, the policy is offered by both general and health insurers.
It is an indemnity based short-term policy that offers protection to both individuals and families. Apart from hospitalization expenses, the policy aims to cover the insured for homecare treatment, AYUSH treatment, pre-hospitalization and post-hospitalization expenses, etc. The policy promises wide coverage and prompt and quality medical treatment to the insured.
Corona Kavach Policy comes with certain benefits which are mentioned below:
Short Waiting Period: Corona Kavach Policy comes with a waiting period of only 15 days, which means that the insured can start availing of the policy benefits sooner.
Affordable Premium: As the Insurance Regulatory and Development Authority of India (IRDAI) has launched Corona Kavach Policy to ease the financial pressure during the coronavirus outbreak, therefore it is priced at an affordable health insurance premium.
One-Time Payment: To be covered under Corona Kavach Policy, the policyholder has to pay the health insurance premium only once, unlike regular health insurance plans. This keeps him/her at ease.
Optional Cover for Hospital Daily Cash: the policy comes with an optional cover of Hospital Daily Cash that can be purchased by paying an extra premium as per the requirement. With this cover, the policyholder can avail cash benefit of 0.5% of the sum insured for every completed day of continuous hospitalisation for up to 15 days.
Tax Benefits: The policyholder can avail tax benefits in the premium paid for this policy under Section 80D of the Income Tax Act, 1961. Note that the benefit can be availed if the premium is paid in any mode other than cash.
Corona Kavach Policy is indemnity-based health insurance that takes care of your and your loved ones during hospitalization due to Covid-19. All health insurance companies provide coverage for coronavirus treatment-related expenses through Covid Kavach Policy. If you want to make a quick choice, refer to the list of Top 10 Corona Kavach Policies mentioned below.
Before choosing your Corona Kavach Policy, please note that the ranking of the health insurance companies has been done on the basis of claim settlement ratio as CSR is one of the prime factors to consider while making a policy purchase.
The CSR for the year ended March 31, 2019, has been taken into consideration for ranking purposes.
Health Insurance Company |
Claim Settlement Ratio |
IFFCO Tokio |
96.57% |
Magma HDI |
96.41% |
New India Assurance |
95.92% |
Oriental Insurance |
94.28% |
Bajaj Allianz |
93.68% |
Care Health Insurance |
92.83% |
ManipalCigna |
89.50% |
Future Generali |
87.68% |
Acko |
86.98% |
HDFC Ergo (formerly Apollo Munich) |
84.51% |
(CSR As Per IBAI's General Insurance Claim Insights Handbook For Policyholders - 4th Edition)
Highlighted below are key inclusions under the Corona Kavach Policy:
Although the Corona Kavach Policy offers comprehensive coverage to the policyholder, yet there are certain things which are not possible to cover. The key exclusions under Corona Kavach policy are as follows:
To buy a Corona Kavach Policy online, you can follow the below given simple steps:
Step 1:Go to InsuranceDekho's official website and from the displayed web page choose the ‘Health' tab.
Step 2: Enter details like phone number, name and gender. Afterwards, you will get a One time password or OTP, enter it.
Step 3: Let us know when you wish to buy the policy by choosing the option from the displayed drop down menu. Then, select ‘View Quotes'.
Step 4: Choose all the family members whom you wish to include under the policy. Thereafter, choose the ‘Continue' option. Then, select the family members' age.
Step 5: Enter information regarding your city and email ID. Afterwards, select the ‘Submit and View Quotes' option. All the policies from different insurance providers will get displayed on the screen. Select the one that you wish to buy and also choose the term for the same.
Step 6: After entering the necessary details make online payment through a secured payment channel.
The entire claim procedure of the Corona Kavach Policy is the same as the normal health insurance plan with no major difference. The policy can be claimed either for reimbursement or cashless benefit. The steps for claim process are explained below:
A policyholder can cancel their corona kavach policy within 15 days of buying it, on the grounds of the policy not meeting certain requirements or in case it is disappointing in terms of coverage. The paid premium amount will get adjusted according to the prevailing Insurance Regulatory and Development Authority of India (IRDAI) norms. The reason behind extending this option was to make the policy more flexible for the policy proposers.
Alternatively, the insurance provider also has all the rights to terminate the policy anytime on the basis of misleading, non-disclosure of material facts related to health or medical history, any fraudulent act at the time of claiming the policy by submitting false documents, etc. However, if any fraud or misrepresentation is found, then the insurance company is not entitled to pay even a single penny to the user.
Yes, a policyholder can purchase Corona Kavach Policy on both individual basis as well as family floater basis.
In case you are buying Corona Kavach Policy on a family floater basis, then you can include yourself, your spouse, dependent children (who are aged between 18 to 25 years), your parents and your parents-in-law. Also please note that children, who are above 18 years and are financially dependent cannot be included under family floater coverage. Moreover, the policy can offer coverage to maximum 2 adults and 3 independent children under one plan if it is bought on a family floater basis.
Corona Kavach Policy is available for 3.5 months (105 days), 6.5 months (195 days), and 9.5 months (285 days).
The Corona Kavach Policy covers homecare treatment expenses or hospitalisation expenses in case the insured individual is found to be COVID-19 positive. Therefore, just quarantine expenses shall not be covered under the policy.
Yes. The policy covers medical expenses incurred on hospitalisation due to positive diagnosis of COVID-19 in a government authorized diagnostic centre that includes expenses arising due to treatment of any comorbidity.
Corona Kavach Policy comes with an initial waiting period of 15 days. Note that the waiting period is calculated from the date of commencement of the policy.
To get coverage under Corona Kavach Policy, you need to be an Indian citizen, a Non Resident Indian, or are residing in India or an overseas citizen of India, provided you are in India while buying the policy.
No. There is no requirement of pre-policy medical check-up to be covered under Corona Kavach Policy.
Premium for Corona Kavach Policy differs from insurer to insurer and depends on several factors such as number of members covered, their age, sum insured, and many others.
To get coverage under Corona Kavach Policy, you need to be an Indian citizen, a Non Resident Indian, or are residing in India or an overseas citizen of India, provided you are in India while buying the policy.
No. People aged above 65 years can not buy Corona Kavach Policy as the maximum entry age to buy it is 65 years.
You can cancel your Corona Kavach Policy within 15 days after the policy purchase on grounds of not meeting the specific requirements in terms of coverage. Your insurance provider will adjust the premium paid as per the norms set by the IRDAI.
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