Corona Kavach Vs Corona Rakshak
The corona-virus has prompted a re-look at medical coverage plans. Most argue that I already have medical insurance, why should I take separate plan for Corona? We should think of it as a supplemental top-up to an existing health insurance policy. “The fixed benefit plan somewhat makes sense because if you get Covid-19 and are hospitalized, a certain amount will be paid out to you. That is a good add-on to your policy because it gives you a certain fixed amount which can be used for anything.
Corona Rakshak Policy : The Policy pays lumpsum amount if the person gets COVID-19 requiring hospitalization. It is benefit based policy which pays lump-sum amount upon testing positive and requiring hospitalization. It offers a choice of 3 short tenures – 3 ½ months, 6 ½ months, 9 ½ months.
Sum Insured can only be opted on Individual basis. Offers SI between Rs 50,000 to 2,50,000 (in the multiples of Rs 50,000). Policy can be availed by persons between the age of 18 years and 65 years. Lump sum benefit equal to 100% of the Sum Insured shall be payable on positive diagnosis of COVID, requiring hospitalization for a minimum continuous period of 72 hours. The positive diagnosis of COVID shall be from a government authorized diagnostic centre.
Policy period means period of three and half months (3 ½ months), six and half months (6 ½ months) and nine and half months (9 ½ months) i.e, 105 days, 195 days and 285 days respectively as specified in the policy schedule
Payment will be made only on Hospitalisation for a minimum continuous period of 72 hours following positive diagnosis for COVID. This is onetime benefit applicable for the entire tenure of the Policy and shall terminate upon payment of this benefit.
The Company shall not be liable for any claim arising for COVID-19 within 15 days from the first policy commencement date.
Claim notification: Upon the happening of the covered event, which may give rise to a claim under this policy, notice with full particulars shall be sent to the Company within 15 days from the date of occurrence of the event/ diagnosis of COVID-19
Documents for claim:
i. Duly filled and signed Claim Form. Cover
ii. Copy of lnsured Person’s passport, if available (All pages).
iii. Photo Identity proof of the patient (if insured person does not own a passport)
iv. Medical practitioner’s prescription advising admission.
v. Discharge summary including complete medical history of the patient along with other details.
vi. Investigation reports including Insured Person’s Test reports from Authorized diagnostic centre for COVID-19.
vii. NEFT Details (to enable direct credit of claim amount in bank account) and cancelled cheque.
viii. KYC (Identity proof with Address) of the proposer, where claim liability is above `1 Lakh as per AML Guidelines.
ix. Legal heir/succession certificate, wherever applicable.