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Approval given by IRDAI for the launch corona Kavach Health Insurance Policies

Approval given by IRDAI for the launch corona Kavach Health Insurance Policies

The Insurance Regulatory and Development Authority of India (IRDAI) has authorised 30 general and health insurance companies to launch ‘‘Corona Kavach’Kavach’ health insurance policies for a short-term amid the increasing cases of COVID-19 in the country.

Key Points:

  • Under the policies, the insurers will cover medical expenses that arise due to the coronavirus infection.
  • A standard COVID specific product has been designed by the Insurance regulator that provides basic health insurance requirements for insuring the masses with general policy wordings throughout the industry.
  • Under the policy, the sum of the insured amount will be in the range of Rs50000 to Rs.5 Lakh and can be used by individuals between the age group 18 to 65 years.
  • The policy of Corona Kavach can be availed for parents, self, parents-in-law and dependent children below the age of 25 years.
  • Under the policy, insurance will also be provided for any comorbid condition that has been triggered as a result of COVID-19 while the individual is hospitalised.
  • The policy will also cover home care expenses up to a period of 14 days for people who are seeking comfort at their own homes if advised by the medical practitioner.

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