IRDA

Covid Kavach Standard Health Insurance Policy: Frequently Asked Questions (FAQ)

The article talks about the Covid Standard Health Insurance Policy, and the frequently asked questions over it. This Pandemic has taken lives of people worldwide. The health insurance coverage has never been provided for any pandemic, but considering the situation, it was essential to cover in the Covid health insurance policy. The Insurance Development Regulatory Authority of India – IRDAI has introduced a Covid Kavach Standard Health Insurance Policy^[1].

Covid Kavach means where the insurance policy will cover the family and members against the Covid treatment undertaken at the hospitals. According to the guidelines of the IRDAI all the insurance companies whether – General or Health Insurance , have launched the Corona Kavach for Individuals and Family Floater Policy. The policies by Health Insurance Companies were executed on 10^th July 2020.

Meaning of Corona Kavach Health Insurance Policy/Corona Health Insurance

The basic terminology of insurance is to indemnify against the losses suffered by the individual. So, it can be said Covid Health Insurance is an indemnity health insurance policy, specially designed to cover the cost of hospitalisation and medical expenses arising out of the Covid Treatment.

Coverage of Covid Health Insurance

The policy covers the

1.  Pre-post hospitalisation & medical expenses arising out of Covid-19 treatment.
2.  It also covers hospitalisation and domiciliary expenses.
3. Home care treatment expenses
4. AYUSH Treatment in case the person is tested positive diagnosis of Covid-19 disease.

Q1. How many insurance companies/insurers are offering Covid Kavach Policy?

Answer 1. Corona Kavach Policy is covered by the 30 General and Health Insurers. The names of 30 Insurers as follows:

S.No.	Health Insurance Companies
1.	Acko General Insurance Ltd
2.	Aditya Birla Health Insurance Co. Ltd
3.	Bajaj Allianz General Insurance Co Ltd
4.	Bharti AXA General Insurance Co. Ltd
5.	Cholamandalam MS General Insurance Co. Ltd.
6.	Edelweiss General Insurance Co. Ltd
7.	Future Generali India Insurance Co. Ltd
8.	Digit General Insurance Ltd 9 HDFC ERGO General Insurance Co.Ltd
9.	HDFC ERGO Health Insurance Limited
10.	ICICI Lombard General Insurance Company Ltd
11.	IFFCO TOKIO General Insurance Co. Ltd
12.	Kotak Mahindra General Insurance Co. Ltd
13.	Liberty General Insurance Ltd
14.	Magma HDI General Insurance Co. Ltd
15.	Manipal Cigna Health Insurance Company Limited
16.	Max Bupa Health Insurance Co. Ltd
17.	Navi General Insurance Ltd
18.	National Insurance Co. Ltd.
19.	Raheja QBE General Insurance Co. Ltd.
20.	Reliance General Insurance Co. Ltd
21.	Care Health Insurance Ltd (Formerly Religare Health Insurance Co.)
22.	Royal Sundaram General Insurance Co. Ltd.
23.	SBI General Insurance Co. Ltd
24.	Star Health & Allied Insurance Co. Ltd
25.	Tata AIG General Insurance Co. Ltd
26.	The New India Assurance Co. Ltd
27.	Oriental Insurance Co. Ltd.
28.	United India Insurance Co. Ltd.
29.	Universal Sompo General Insurance Co. Ltd

Q2. What is the Benefit of Corona Kavach Policy?

Answer 2. The benefits of Corona Health insurance is as follows:

1. Corona Health Insurance Policy covers from pre to post hospitalisation expenses from doctor’s consultation fees, nursing, and surgeon’s fees for operation.
2. Insurers cover the treatment expenses for 14 days.
3. Policy cover has no capping on room rent.
4. AYUSH treatment includes the coverage of the expenses for Ayurveda, Unani, Sidha, and Homeopathy.
5. Emergency Ambulance cover up to a limited period and a minimum of Rs 2000 per hospitalisation.
6.  Health Insurance will be taking care of essential health-related cases of covid-19.
7. This is a standard policy covering the insurance industry.
8. The total reimbursement/repayment under the policy shall not exceed the sum insured which is opted by the policyholder under “Optional Cover-Hospital Daily Cash”.

Hospitalisation expenses covers

1. They are those expenses which are apart from room rent, ICU, ICU expenses.
2. Surgeon, Medical Practioner, Consultant, Specialist fees.
3. Anaesthesia, blood, oxygen, operation, theatre charges, ventilator, surgical expenses, diagnostic imaging, medicines, PPE kit.

Q3. Who is covered under the Corona Health insurance?

Answer 3. Corona Kavach Policy is covered at two levels: Individuals and family floater basis. The policy can be availed by:

1.  Spouses-legally wedded
2. Parents (in-laws also)
3. Dependent Children (adopted or natural-born)- covered from 0-25 years who are dependent. If any child is financially independent, he is not covered under the scheme, only 18 years and above.

Q4. What is the Tenure of Corona Kavach Policy?

Answer 4. 1. The Corona Kavach Policy is available for the term period of 3.5 months, 6.5 months and 9.5 months.

2. The minimum waiting period under the policy is 15 days.

Q5. What is the coverage of the expenses under the Corona Kavach Policy?

Answer 5. The expenses covered under Covid Health Insurance:

1. Covid Hospitalisation Expense Cover

It covers both pre and post hospitalisation expenses of the person.

2. Ambulance Coverage

The road ambulance cost is covered while transferring the patient to the hospital, which is Rs.2000.

3. Home Treatment Coverage

The cost of home treatment is covered for Covid patients. The policy covers the treatment, which is done for 14 days.

4. AYUSH Treatment Cover

AYUSH treatment expenses are also covered. The treatment has to be protected from an authorised hospital.

5. No Deductions

The sum insured can be availed from 50,000 to 5, 00,000 rupees.

6. ICU Coverage of Expenses

The policy helps you cover the ICU expenditure. The reason is ICU has a heavy cost on the person. The policies cover that well.

7. No Cap on room Rent

There is no cap on room rent when admitted or opted in a single room.

Exceptions to Corona Health Insurance

1. Treatment expenses

The expenses which are not related to the coronavirus are not covered.

2. Custodial care

The expenses arising out of the custodial care are not covered.

3. Unproven healthcare facilities

The expenses arising out of the unproven healthcare treatment that lacks sufficient medical documents to support the claim are not covered.

4. Outside India

The treatment which has been done outside India is not covered.

Conclusion

It can be concluded that Covid Health Insurance is one of the vital part of today’s Pandemic. The Covid health insurance cover is the need of the hour. The governments’ imitative is the positive step taken for the welfare of our country citizens.

Read our article:‘Corona Kavach’ & ‘Corona Rakshak’ –Standard COVID Health Insurance Plans