Below are two types of COVID-19 health insurance policies.

1.  Corona Kavach Policy

o   This is a single premium policy that provides coverage of the treatment expense of COVID-19. 

o   This is indemnity-based health insurance.

o   The Corona Kavach Policy covers the individual as well as the family members.

o   This policy provides a coverage period of 3.5 months, 6.5 months, and 9.5 months.

o   The Corona Kavach Policy is provided by both private and general insurance providers.

o   It also covers the cost of AYUSH treatment.

o   In addition, the Corona Kavach Policy also covers the expenses of home care treatment, pre-hospitalization expenses, post-hospitalization expenses, and road ambulance expenses.

o   The policy has a shorter waiting period of 15 days, which means that you can start availing of the benefits of the policy soon. 

o   Another noticeable feature of the Corona Kavach Policy is that you can also get daily cash benefits, but one needs to pay an extra premium.

2.  Corona Rakshak Policy

The next popular COVID-19 health insurance policy is the Corona Rakshak Policy.

This is not the same as the Corona Kavach Policy. The Corona Rakshak Policy offers a lump-sum benefit to the insured in case the person is tested positive for COVID-19 infection. 

• It offers individual coverage, and the insured amount ranges between Rs. 50,000 and Rs. 2.5 lakh in the multiples of Rs. 50,000.
• People between the age of 18 years and 65 years are eligible for this policy.
• The policy term ranges between 3.5 months, 6.5 months, and 9.5 months
• The policy gets over after the payment of the benefit. 
• An important point to note about this policy is that the insured can get the benefit only when they have tested positive at a government-recognized center.
• This policy also comes with a shorter waiting period of 15 days. Also, it doesn’t offer a lifetime renewability benefit.

Applying for a COVID-19 insurance policy online

The best part about the COVID-19 health insurance plan is that one can easily apply for this online policy. Most of the general insurance providers also provide the COVID-19 health insurance plan. 

The following table highlights the key providers of the COVID-19 health insurance plan: 

To avail of the COVID-19 insurance policy online, you can log on to their website and click on the health insurance tab. The best part about both these policies is that it has a shorter waiting period which means you can start availing the benefits of this policy within 15 days. 

Final thoughts

Health insurance plans are a must today. The surge of medical emergencies like the COVID-19 has taught us to be more conscious about our health and make the right investment so that it can cover the cost during emergencies. 

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Covid-19 health insurance policy coverage starts from the day the insured is diagnosed with the disease. Since this is a new disease, it doesn’t fall in the category of pre-existing illness.

Types of Covid-19 Health Insurance Policy

There are different types of Covid-19 health insurance policy; these include:

1. COVID-19 Health Insurance Type 1- Corona Kavach- This is the standard policy for Covid-19 treatment. It works in the same manner as indemnity-based health insurance. It covers the cost of hospitalization and also the cost that one bears for home treatment of Covid-19. The sum starts from Rs. 50,000 up to Rs. 5 lakh.
2. COVID-19 Health Insurance Type 2- Corona Rakshak- The next type of Covid-19 health insurance policy is the Corona Raskshak. This one works similar to the other insurance plan. Once the insured gets diagnosed with the diseases and gets admitted, the insurer releases the amount after 72 hours of continuous hospitalization. The minimum sum insured under this policy is Rs. 25,000 and it can extend up to Rs. 2.5 lakh. The insurance premium may vary between. Rs. 500 to Rs. 5000 based on the tenure of the insurance.
3. Coronavirus Group Health Insurance– If you are insured under the Group health insurance, your insurance provider will provide you with the insurance under the Corona Rakshak or Corona Kavach.

Important Things You Should Know About Covid-19 Health Insurance Policy

Concluding Thoughts

 The best part about the Covid-19 health insurance policy is that you don’t have to wait to release the payment. Moreover, it covers all the costs like hospitalization charges, PPE equipment, ambulance, mask, etc. Most of the policies are cashless. Although we have the vaccination going on in full swing, the disease is not yet over. Hence, if you have still not insured yourself under any of the Covid-19 insurance policy, then you must do so immediately.

Choosing Covid-19 Insurance Policy Online: What should you know?

How important health insurance during Covid-19 time

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What does the Covid-19 health insurance policy cover?

One of the key reasons people are investing in a health insurance policy is that it offers good benefits and complete coverage. But you must not get swayed by the companies’ tall claims; rather, you must check what all costs are covered under the Covid-19 health insurance policy Online. Some of the key costs that are covered as a part of good health insurance against Covid-19 is:

• Pre hospitalization charges
• Post hospitalization charges
• Medical expenses

Types of Covid-19 Health Insurance Policy

1. COVID-19 Health Insurance Type 1- Corona Kavach– This is the basic policy that covers the cost of treatment. The cost may vary between Rs. 50,000 and Rs. 5 lakh.

2. COVID-19 Health Insurance Type 2- Corona Rakshak– In this policy, the amount is released within 72 hours of continuous hospitalization of the coronavirus infected person. The amount that the policyholder gets varies between Rs. 25,000 up to Rs. 2.5 lakh.

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Like other health insurance plans, this coronavirus health insurance policy also covers hospitalization costs settled on the treatment of Coronavirus infections. Since Coronavirus is an infection caused by a virus, an overall health insurance plan offers monetary coverage for pre & post medical expenses that includes in-patient and out-patient charges that are cost at the time of the treatment.

Covid-19 health insurance policy will be effective from the very day on which the policyholder gets diagnosed with the disease. Again, it does not occur under the pre-existing ailment category since COVID-19 is a novel disease. Some of the prime benefits of this policy are-

1. Home treatment
2. Consumable costs
3. CoronaVirus Treatment
4. Cashless Treatment
5. Co-treatments
6. Add-on covers

If you are looking for a particular health coverage protection for coronavirus (COVID-19), then considering a conventional health insurance plan that incorporates all treatment expenses of COVID-19 will be an ideal choice. In India, two standard products have been launched that correspond to the guidelines of IRDAI. Here are three Covid-19 health insurance policy types-

1. Corona Kavach Policy:

A standard coronavirus health insurance plan that includes hospitalization costs, home care nursing expenses, ambulance prices, price of PPE materials, medications, doctor payments, and ICU costs. The total covered amount begins from Rs 50,000 and limits to Rs 5 Lakh.

• Corona Rakshak Policy:

A specific health insurance policy that compensates for hospitalization of a least 72 hours and more as needed for corona therapy in India. The plan includes fees incurred towards PPE’s, oxygen, nebulizers, AYUSH treatment, etc. This policy is available for the age group of 18-65 years. The sum range is from Rs 2.5 lakh to Rs 5 Lakh.

• Coronavirus Group Health Insurance:

It covers the entire coronavirus processing expenses of the treatment. It provides the collective compensations of the aforementioned policies under the single plan.

Wrapping up Coronavirus condition is a recently recognized disease, however, all existing health coverage plans will give coronavirus health protection cover. This indicates that if you bought a health coverage policy before examining positive for the COVID-19 disease, any medical costs acquired on its treatment will be included under it.

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