Are you planning to increase your health insurance coverage due to the coronavirus pandemic? If this is the case, people with existing health insurance can consider two options: buy a Corona Kavach policy or purchase a Super Supplemental / Supplemental plan for their existing health insurance.
Here you will find an overview of some advantages and disadvantages of the Corona Kavach policy and additional/superadditional insurance.
Corona Kavach Policy
Corona Kavach is a policy that specifically only insures the treatment of new coronavirus diseases. Following the publication of a guide by the Insurance Supervisory Authority of India (IRDAI), many insurance companies have introduced this standard coverage.
- Enhanced Insurance Coverage: The Corona Kavach policy covers your hospital expenses, including comorbidities, PPE expenses, room rental, nursing expenses, intensive care expenses, and hospital expenses, fees for consulting the surgeon, doctor, etc. Given the lack of rooms in hospitals, there are in Kavachs Policy has no limit for room rental.
- One-time payment coverage: You only have to pay the Corona Kavach policy premium once at the time of purchase, unlike regular premium payments for other health insurance.
- Short Standby Time: The standby time for Corona Kavach coverage is only 15 days, which means you can make a claim and benefit from coverage 15 days after purchase.
- Affordable premium: Since Corona Kavach only offers insurance against COVID 19 and until March 31, 2020, the cost of the premium is low compared to annually renewable health insurance with various risks. The following table provides an overview of the premium to be paid for Kavach.
- Covers AYUSH treatment: Corona Kavach covers the cost of AYUSH treatment, including Ayurveda, Unani, Siddha, and homeopathy.
- Treatment limited to Covid-19: Corona Kavach coverage only covers the costs of treatment and hospitalization for Covid-19; no other illness is insured.
- Limited sum insured: Since Corona Kavach only covers the costs of treatment and hospitalization for Covid-19, the sum insured is limited to a maximum of Rs 5 lakh.
The Kavach policy is not renewable: if someone wants to take out medical insurance after March 2021, they must take out regular medical insurance that also covers other diseases such as heart, liver, and kidneys. , Cancer, etc., or accidental injuries leading to hospitalization, including treatment costs for Covid-19.