Right Coronavirus Insurance

Picking the Right Coronavirus Insurance for Your Needs

8th September 2020 8min read 552 views

Around the world, life is creeping back to normal. People have started going to the office and taking public transport. Of course, ‘normal’ now means that everybody has to wear a mask and maintain a safe distance from each other. Many believe that the threat is now over, but this couldn’t be further from the truth. Yes, we’re returning to our normal lives, but the virus is still out there, infecting many and making life difficult for them and their loved ones. In today’s turbulent times, just a mask may not be enough. It’s a good idea to get yourself a coronavirus
health insurance policy that will help look after you and your finances should you test positive.

There are two

new insurance policies

available in the market – Corona Kavach and Corona Rakshak. Both offer slightly different benefits. If you’re wondering which policy is the right fit for you and your loved ones, let’s have a look at what each policy offers.

  Corona Kavach Corona Rakshak
Who’s Covered? This policy offers both family floater and individual options. You can choose to cover several family members under a single policy or purchase separate policies for each individual. This variant offers individual policies only. So each individual who is covered will have their own sum insured.
Sum Insured Offered The minimum sum insured is INR 50,000. The maximum sum insured is INR 5,00,000. The minimum sum insured is INR 50,000. The maximum sum insured is INR 2,50,000.
What Benefits Do I Get? If you or a covered family member test positive for COVID-19, this policy will take care of:
1. Hospitalisation expenses for COVID-19 treatment, including pre- and post-hospitalisation expenses.
2. AYUSH treatment for COVID-19.
3. Home care treatment for COVID-19.
If you or a covered family member test positive for COVID-19 and require to be hospitalised for a minimum continuous period of 72 hours, you will receive a lump-sum payment of up to 100% of the sum insured to help take care of the financial aspect of the treatment.
Are Any Add-ons Available? Yes, you can choose to add Hospital Daily Cash to your policy for an additional premium. No, there are no add-ons available with this policy.
Is There an Age Limit? In order to purchase this policy, the principal insured must be between the ages of 18 and 65. Dependent children can be added up to the age of 25. In order to purchase this policy, the principal insured must be between the ages of 18 and 65. You can purchase a separate policy for your dependent children who are between the ages of 18 and 25.
When Does the Cover Start? There is a waiting period of 15 days during which time no claims will be entertained. Your cover will commence 15 days after the policy is purchased.
How Long is the Policy Valid for? You can choose to purchase the policy for 105 days (3.5 months), 195 days (6.5 months) or 285 days (9.5 months) These periods include the 15-day waiting period.

Which Plan Is Better?

Researchers fear that plans to send tens of thousands of communications satellites into orbit will disrupt scientific observations of the Universe.

Do I Really Need a Separate Coronavirus Plan?

If you’ve found yourself wondering why you need a separate COVID-19 plan, don’t worry, you aren’t alone. Many people think it is unnecessary to purchase another policy, especially when their regular health plan will cover the cost for hospitalisation or treatment for the virus. But the truth is, a regular health plan may not be enough. What’s worse, treating the coronavirus could wipe out your regular health policy’s sum insured. This means that if anything were to happen to you in the future, and you needed to be hospitalised or seek treatment, you’d likely have to pay for it yourself. By opting for either Corona Rakshak or Corona Kavach, you’re ensuring that you and your family are taken care of should the virus infect one of you. Additionally, you’re also ensuring that healthcare treatments in the future don’t turn out to be too expensive for either you or your loved ones.

Now that you have a better understanding of what the two policies offer, you can make an informed decision about which variant is better for you and your family.

Disclaimer: The information in this document is for indication. For the complete terms and conditions, please read the Policy Wordings and Prospectus (Sales Literature) as listed in our website, i.e. www.edelweissinsurance.com.

"Edelweiss General Insurance Company Limited | www.edelweissinsurance.com | support@edelweissinsurance.com | Regd. Office: Edelweiss House, Off CST Road, Kalina, Mumbai 400098 | TOLL FREE: 1800 12000 | CIN: U66000MH2016PLC273758 | IRDAI Regn. No. 159 | Corona Kavach Policy, Edelweiss General Insurance Company Limited - UIN: EDLHLIP21079V012021 | Corona Rakshak Policy, Edelweiss General Insurance Company Limited I UIN: EDLHLIP21110V012021 | ARN:EGI/Health/Blog/01/0920 The actual benefits available are as described in the policy wording, and will be subject to the policy terms, conditions and exclusions. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale | Trademark and logo displayed belongs to Edelweiss Financial Services Limited and is used by Edelweiss General Insurance Company Limited under license. All rights reserved."

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