Insurance policies for Covid can be bought till Sept 30

A patient suffering from coronavirus disease (COVID-19) waits to get admitted outside the casualty ward at Lok Nayak Jai Prakash Narayan Hospital (LNJP), one of India's largest COVID-only facilities, in New Delhi, April 24, 2021. Photo: REUTERS/Adnan Abidi

Insurance companies have been given permission to sell and renew the Corona Kavach and Corona Rakshak policies till September 30. Earlier, these Covid-specific health covers could be offered and renewed only till March 31.

Only some companies are currently offering Corona Rakshak policies. But the Insurance Regulatory and Development Authority of India (IRDAI) has instructed that all insurance companies should offer the Corona Kavach policy.

The tenure options for the Corona policies are 3.5, 6.5, and 9.5 months. The age bracket is 18-65. There is only single premium payment. Once the policy is taken, it would take 15 days to come into effect.

Corona Kavach: If hospitalised for at least 24 hours after getting infected with coronavirus, the insurance claim will be payable. Cashless facility is also available. Room rent, doctors' fee, and expenses for ambulance service, ICU, operation theatre, PPE kit and gloves are included in the Kavach policy.

Even if the policyholder undergoes treatment at the house for 14 days, the insurance company will pay for the expenses. The beneficiary can choose an insurance coverage amount in the range of Rs 50,000 to Rs 5 lakh. Floater policies can be taken by including the children and family members of the policyholder.


Corona Rakshak: If diagnosed with COVID-19, this benefit policy will pay in lump-sum the 100 per cent of the insured amount. But there will not be any policy cover after that. The coverage amount ranges from Rs 50,0000 to Rs 2.5 lakh can be chosen. But hospitalisation of 72 hours is required. Only individual policies are available.

The comments posted here/below/in the given space are not on behalf of Onmanorama. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.