While Corona Kavach will take care of the entire cost of treatment in case you are infected with the novel coronavirus, your term plan will financially take care of your dependents
New Delhi: In a bid to help customers, insurance web aggregator Policybazaar has tied up with prominent insurers to sell Corona Kavach as an add-on with term insurance policies. The ongoing coronavirus crisis has made people realise the importance of having an insurance cover. People are now seriously considering buying term insurance policies and health insurance covers.
However, a case may arise, where a person may have health insurance and looking to invest in a term life insurance policy. But, a lot of people are also in a fix whether they should separately invest in a health cover that helps them sail through the pandemic. So, they may go for this pocket-friendly option.
So, while Corona Kavach will take care of the entire cost of treatment in case you are infected with the novel coronavirus, your term plan will financially take care of your dependents in your sudden demise due to the epidemic or any other reason. For a 35-year-old individual, a combination of term plan and Corona Kavach policy can be bought for a premium as low as Rs. 1684 per month.
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Santosh Agarwal, CBO-Life Insurance, Policybazaar.com said: “We have tied-up with few prominent insurers to sell short-term Corona Kavach policy to cover COVID-19 related health expenses. The company has for now tied up with Max Bupa Health Insurance, HDFC Ergo, Tata AIA, ICICI Prudential, and Punjab National Bank as part of social commitment to indemnify the unprecedented expenses of the common man. With the objective of providing insurance cover for individuals for COVID-19 pandemic related health expenses, PolicyBazaar in association with the tied-up insurance companies has launched the Corona Kavach Policies at a very competitive premium structure, starting with as low as Rs. 822 per month.”
Some key features of the Corona Kavach include purchase on individual and family floater basis, minimum sum insured of Rs 50,000 to a maximum of Rs 5 Lakh, no capping on room rent, and home care treatment up to 15 days. The policy which will be available for a maximum period of 9 and half months (or 285 days), will also cover Ayush treatment up to 100% of sum assured and coverage of co-morbid conditions.
“Within a few days of introduction, over 20 per cent of the people buying term insurance from PolicyBazaar are even investing in Corona Kavach plan for a single payment mode. During these tough times of COVID-19 crises, a combination of Term plan and Corona Kavach promise complete peace of mind as both your health and life are protected against extreme circumstances. While Corona Kavach will take care of the entire cost of treatment in case you are infected with the novel coronavirus, the term plan will financially take care of your dependents in your sudden demise due to the epidemic or any other reason,” she further added.
