In a bid to offer assistance pertaining to Covid-19, Bajaj Allianz General Insurance today unveiled its ‘Corona Kavach Policy’. This is its standard Covid-19 health protection policy, introduced in adherence to the guidelines issued by IRDAI on June 26, 2020. These guidelines were issue to introduce a health protection product that addresses the basic health insurance requirements of insuring public related to COVID.
As per the details issued by the insurer, the sum insured of this policy is between Rs 50,000 and Rs 5 lakh and one can choose this policy for a period of three-and-a-half months, six-and-a-half months, and nine-and-a-half months. The premium for the base cover falls between Rs 447 and Rs 5,630, exclusive of GST, depending on the age of the insurance holder, sum insured and policy period opted.
Similarly, for an optional hospital daily cash cover on benefit basis the premium set by insurer is set between of Rs 3 and Rs 620 excluding GST, which differ on the basis of age of the person, sum insured and policy period opted.
For instance, if a person between 0-35 years wants to opt for a base cover with sum insured of Rs 50,000 for three-and-a-half months, the customer needs to pay Rs 447, excluding GST.
It is compulsory to choose the base cover which includes Covid hospitalisation expenses, home care treatments, AYUSH treatment, pre-hospitalization of up to 15 days and post hospitalisation expenses of up to 30 days.
One can also choose an optional hospital daily cash cover on benefit basis along with the base cover, in which the company shall pay the insured person 0.5 percent of sum insured per day for each 24 hours of continuous hospitalisation. This policy has a waiting period of 15 days and can be selected on individual and family floater basis.