Buying adequate medical insurance for parents is possibly the best way to secure their health. The COVID-19 pandemic has been giving a tough time to everyone. Simultaneously, medical inflation is making it difficult for everyone to afford medical treatment.
Keeping this in mind, the Insurance Regulatory and Development Authority of India (IRDAI) has introduced Corona Kavach Policy. Health insurance providers offer health insurance that covers hospitalization expenses for the COVID-19 treatment.
Corona Kavach Policy has come as a boon as it is a cost-effective medical insurance plan that takes care of the medical expenses related to coronavirus treatment. Let’s get into more details about this policy:
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What is Corona Kavach Policy?
Corona Kavach Policy is a health insurance policy that will let you and your family stay worry-free about the treatment due to the coronavirus. It is an indemnity-based plan that covers hospitalization expenses related to COVID-19. This health cover offers maximum coverage of Rs.5 lakh at a reasonable premium. You can buy it as medical insurance for parents or individual policy.
How is Corona Kavach Policy Helpful for Parents?
Senior citizens are more prone to get infected because of their weak immune systems. Moreover, the cost of treatment is rising, making it difficult for elderlies to bear the treatment expenses when they already have limited income. Coronavirus health insurance helps you to avail the best possible treatment for your parents if they tested positive. Below are its essential benefits:
Coverage for Hospitalization Expenses: Your parents will get coverage for hospitalization expenses to treat the infection, such as room, nursing charges, ICU, ventilator charges, etc.
Pre and Post Hospitalization Expenses Cover: The policy also covers medical expenses 15 days before hospitalization or home care treatment & 30 days from the discharge date from hospital or completion of home care treatment.
Sum Insured Option: You can choose the sum insured up to Rs.5 lakhs according to your family healthcare that suits your pocket.
Minimum Waiting Period: Coron Kavach Policy has only 15 days waiting period from the date of policy issuance.
Home Care Treatment- Your parents can also avail of home care treatment under this policy maximum of 14 days per incident if prescribed by the Medical Practitioner.
Hospital Daily Cash- It is an additional cover under which you can get daily hospital cash to bear those extra expenses during COVID-19 treatment.
Cashless Hospitalization Facility- If you opt for this policy from the trusted brands like Care Insurance, Go Digit, etc., your parents can avail of cashless hospitalization.
AYUSH Coverage: If you want to alternate medicines, AYUSH (Ayurveda, Unani, Sidha, & Homeopathy) coverage is also available under the policy.
Tax Benefits: You can also avail of tax benefits under section 80D of the income tax act of India 1961.
Top Health Insurance Companies Offer Corona Kavach Policy
- HDFC Ergo Health Insurance
- Care Health Insurance
- Go Digit Health Insurance
- Max Bupa Health Insurance
Conclusion
After a certain age, your parents need proper medical attention due to various health risks. At present, you must opt for the Corona Kavach Policy to ensure their safety during the pandemic. It provides timely treatment and speedy recovery.
