The Corona Kavach health insurance plan is a specialised health insurance plan designed to cater to the specific healthcare needs of individuals who have faced the effects of coronavirus. This covid insurance is available in individual and family floater options and offers coverage for expenses incurred due to COVID-19 treatment. This article will discuss the benefits and limitations of the Corona Kavach health insurance plan.
Why is a Corona Kavach Health Insurance Policy Necessary?
Within a year, there has been a significant impact of coronavirus on our lives and tested our limitations in the worst ways possible, whether psychologically, financially, or physically. One thing, though, is certain you can never put off taking care of your health. Getting covid insurance is one approach to financially providing for our loved ones in an emergency.
Here are some explanations of why getting a Corona Kavach health insurance policy is a wise idea:
- Minimal Waiting Period: A Corona Kavach policy's 15-day minimum waiting time is one of its main advantages.
- Protects Those Without Medicare: For those without best health insurance, purchasing a COVID-19-specific health plan is a great choice when considering its advantages at a reasonable cost and with a short waiting time.
Benefits of Corona Kavach Health Insurance Plan
The following perks are included with Corona Kavach Policy:
COVID-19 Coverage
The primary benefit of the Corona Kavach health insurance plan is that it covers expenses incurred due to COVID-19 treatment. This includes hospitalisation expenses, pre-hospitalisation, and post-hospitalisation expenses, home care treatment expenses, and AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) treatment expenses.
Affordable Premiums
The premiums for the Corona Kavach health insurance plan are affordable, making it an accessible option for individuals who may not be able to afford more comprehensive health insurance plans.
Flexibility
The plan is available in individual and family floater options, making it flexible for individuals who want to cover themselves and their families under one policy.
No Waiting Period
The Corona Kavach health insurance plan has no waiting period, meaning individuals can avail of the benefits from the policy immediately after purchasing it.
Tax Benefits
The premiums paid towards the Corona Kavach health insurance plan are eligible for tax benefits under Section 80D of the Income Tax Act.
Limitations of Corona Kavach Health Insurance Plan
Corona Kavach Policy comes with certain limitations, which are mentioned below:
Limited Coverage
The Corona Kavach health insurance plan only covers expenses incurred due to COVID-19 treatment. It does not cover other illnesses or medical conditions.
Low Sum Insured
The maximum sum insured under the Corona Kavach health insurance plan is ₹5 lakhs. This may not be sufficient for individuals who require extensive treatment for COVID-19.
Limited Hospital Network
The Corona Kavach health insurance plan may have a limited hospital network, which may include only some top-tier hospitals and medical facilities.
No Restoration Benefit
The Corona Kavach health insurance plan offers no restoration benefit. This means that once the sum insured is exhausted, the policyholder cannot claim any further benefits under the policy.
Waiting Period for Comorbidities
While there is no waiting period for COVID-19 treatment under the Corona Kavach health insurance plan, there is a waiting period of 15 days for coverage of comorbidities. If the policyholder has any pre-existing medical conditions, they must wait 15 days before availing coverage for those conditions.
The Corona Kavach health insurance plan is a specialised health insurance plan that offers coverage for COVID-19 treatment expenses. This corona kavach policy is an affordable and flexible option that can provide much-needed financial support during these challenging times. However, the plan has limitations, such as limited coverage, low sum insured, and a waiting period for comorbidities. Individuals should carefully consider these limitations before purchasing the policy and ensure it meets their healthcare needs.
