Medical emergencies can seriously interfere with your financial plans. New diseases have emerged in recent times, like Covid-19, its variants, black fungus, monkeypox, etc. Healthcare prices are increasing every day. Never before has obtaining health coverage been more important. As a result, protecting yourself and your family with a cost-effective health insurance policy is imperative. To increase the accessibility and affordability of healthcare coverage, IRDAI launched the Corona Kavach Policy in July 2020. This policy is being provided mandatorily by all national health insurance providers. The covid-specific plan is also offered by Kotak Mahindra General Insurance at an affordable premium with comprehensive coverage options.
The Corona Kavach Policy, a relatively affordable basic healthcare coverage plan, is designed to cover healthcare costs associated with the coronavirus. This is one of Kotak Mahindra's short-term indemnification-based health insurance policies, which safeguards you and your family members. It covers the insured for home treatment, AYUSH, pre- hospitalisation and post-hospitalisation charges, etc, along with ambulance-on-road charges. Comprehensive coverage and timely, high-quality medical care are promised to the policyholder under the policy.
Policy Tenure: 3.5 months, 6.5 months, and 9.5 months
Policy Type: Floater Basis & Individual Basis
Waiting period: 15 days
Sum Insured: INR 50k - INR 500k
Age Eligibility: 18-65 years (Dependent children are eligible from 1-day-old to 25 years old)
AYUSH Treatments: Covered up to specified limit
Discounts: Kotak employees and healthcare workers are given 5% discount
Corona Kavach Policy provides comprehensive coverage against your covid treatment expenses. It is one of the most suitable insurance under Kotak Mahindra Health Insurance Plans.
Covid Hospitalisation Coverage: If a per person is tested covid positive post a diagnosis from a government-sanctioned medical facility or clinic, and requires hospitalisation, Kotak Mahindra health insurance will cover the expenses. Also, pre and post-hospitalisation expenses for a maximum of 15 days and 30 days respectively are covered, provided you have spent at least a straight 24 hours in the hospital.
Ambulance: Costs related to using an ambulance on the road are also covered by Kotak Mahindra Corona Kavach Policy up to specified limits.
Home Healthcare Treatment: Costs associated with Covid 19 treatment received at home are covered. This expense is approved for 14 days provided you have your covid positive report from a government-verified diagnostic center and the treatment is doctor prescribed, as you cannot be admitted to a hospital.
AYUSH Treatment: Any expense under AYUSH treatment related to the treatment of Covid is covered up to the sum insured.
Hospitals Everyday Cash: After an acceptable hospitalisation claim, 0.5% of the insured amount will be provided every day for every 24 hours of inpatient care for Covid. Each insured individual gets the benefit for a maximum of fifteen days during the term of the plan.
A short list of coverage exclusions is shown below. The complete list of exclusions is in the policy document, which you should consult:
Admission for investigation purposes
Admission is intended mostly for rest treatment, recuperation, and short-term care
Claims for Covid where the condition was discovered before the launch of the policy
Treatment at daycare facilities and emergency rooms.
With seven days' written notification, the insurance company can terminate the insurance plan at any moment in case of falsification for misconduct by the policyholder, or failure to disclose important information.
Lifetime renewal, and the concepts of migration & portability, are not relevant.
At a network hospital, you would be able to take the advantage of cashless treatment. Here, the bills will be settled directly by the company and you’ll have to pay only the uncovered expenses.
Treatments can be received from a network hospitals with the insurance provider's or its designated (TPA) third-party administration's prior consent
The insurance provider or TPA must receive a fully completed cashless request form before they can approve it
After verifying the information on the cashless application form and the policyholder's pertinent medical records and bills, the Company or TPA will submit a pre-authorization certificate to the hospital
During the time of discharge, the policyholder is required to review the discharge papers, check and accept them, and pay all non-medical and non-admissible fees.
It's important to weigh the advantages and disadvantages of a health care plan, as well as the company offering it, before selecting one. Kotak Mahindra is among the top and most trustworthy brands across India. It offers the best customer service and healthcare insurance alternatives, this company has a remarkable claim settlement percentage of 98.50% in the year 2020–21. You can receive the finest care possible without stressing about costs and convenience because of a large network of hospitals.
Yes, Kotak Mahindra Corona Kavach Policy covers parents-in-law.
Yes, the Kotak Mahindra Corona Kavach policy offers the option of a cashless claim when the treatment is taken at a network hospital.
