In the wake of the outbreak of highly-infectious Novel Coronavirus Covid-19, panic-stricken people are feeling the need to take a health insurance cover. The steep rise in Covid cases has resulted in the IRDAI to compel insurers to offer short-term Covid-specific health plans that will cover hospitalization expenses related to the treatment of COVID-19.
In sync with the aforesaid, Canara Bank launched the Corona Kavach policy by the following Insurance companies who have tied up with the bank.
With the objective of providing insurance cover for individuals for COVID-19 pandemic related to health expenses, the Bank in association with the tied-up insurance companies has launched the Corona Kavach Policies at a very competitive premium structure, starting with as low as Rs 300/- only.
Also Read: Canara Bank reduces MCLR on loans/advances
The salient features of the policies are:
- It can be purchased on an individual basis and family floater basis.
- The minimum sum insured is INR 5000 and maximum is INR 5 lakh.
- Minimum 24 hours hospitalization is required.
- Maximum period of insurance will be 285 days or 9 and half months.
- Initial waiting period will be 15 days from the date of issuance.
- No capping on room rent.
- Home care treatment as per insurer policy maximum up to 15 days.
- Treatment expenses for pre-hospitalization of 15 days and post- hospitalization of 30 days are covered.
- Ayush treatment is available upto 100 % of the sum insured.
- Co-morbid conditions also covered.
- Optional hospital cash covered.