Prime Minister Narendra Modi has recently warned that the “danger” from Covid-19 has not gone and referred to it as a “bahurupiya bimari” (multi-faced disease). According to the Union Health Ministry data updated on Monday, 861 new coronavirus infection cases were registered, taking the total tally of COVID-19 cases to 4,30,36,132, while the active cases dipped to 11,058.
The cost of hospitalization for the treatment of coronavirus infection may run into lakhs and the best way forward is to ensure one has adequate insurance coverage.
Although health insurance plans cover treatments for covid-19, there are exclusive health covers for addressing hospitalization costs arising out of the pandemic.
IRDAI has recently extended the timelines for the sale and renewal of short term Covid specific health insurance policies up to September 30, 2022. Corona Kavach Policies and Corona Rakshak Policies, the exclusive Covid-19 coverage plans, can now be purchased and renewed up to 30.09.2022.
Corona Kavach Policies and Corona Rakshak Policies are exclusive Covid-19 insurance plans that help to meet hospitalization costs. Corona Kavach policy is offered by general and health insurance companies only, while the Corona Rakshak policy may be offered by all insurers, including life insurers.
The minimum sum insured for Corona Kavach Policy is Rs 50,000 and the maximum is Rs 5 lakh while for the Corona Rakshak Policy, the minimum sum insured is Rs. 50,000 and the maximum limit shall be Rs.2.5 lakh.
Both Corona Kavach and Corona Rakshak’s plans are short-term in nature and will be available for a policy tenure of 3 and half months, 6 and half months, and 9 and half months, including the waiting period.
In addition to taking adequate precautions including taking vaccination and the following coronavirus, protocols remain the best defense as of now. As the incidence of Coronavirus has still not gone away, buying Corona Kavach or Corona Rakshak plans can help you meet hospitalization costs. As these plans are Covid-19 exclusive plans, having a regular health insurance plan is anyhow a must for all individuals.