- Date : 03/09/2021
- Read: 5 mins
You should consider getting a dedicated coronavirus health plan because it offers greater coverage than a standard health insurance policy.
A dedicated coronavirus health plan protects you and your loved ones against the medical expenses arsing due to an infection. The IRDAI has specified guidelines for COVID-19 covers that remain uniform across all general and health insurance providers in India.
Termed as ‘Corona Kavach’, the cover for COVID-19 takes care of all pre- and post-hospitalisation expenses incurred on the treatment of the disease, which may not be covered under a standard health insurance plan.
About 30 different insurance providers offer this cover at varying premium costs. Let us look at 5 popular insurance providers and their service bouquet.
1. Bharati AXA General Insurance (Incurred Claim Ratio: 89%)
- Network hospitals: 4300+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Ambulance cover up to Rs 2000; 5% discount for all healthcare workers
2. Max Bupa Health Insurance (Incurred Claim Ratio: 54%)
- Network hospitals: 4100+
- Sum insured: Rs 50,000 to Rs 5 lakh
- Hospitalisation: starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available in Annexure A here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Coverage for pre-existing diseases along with COVID-19 up to sum insured; 30 minutes for cashless claim processing
Related: COVID-19 and mental health: Is it covered under health insurance?
3. Aditya Birla Health Insurance (Incurred Claim Ratio: 59%)
- Network hospitals: 6000+
- Sum insured: Rs 50,000 to Rs 5 lakh
- Hospitalisation: Starting from a minimum period of 24 hours
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: PPE kits, gloves, and masks for in-patient treatment
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
Related: Does your life insurance policy cover death due to COVID-19?
4. Kotak Mahindra General Insurance (Incurred Claim Ratio: 47%)
- Network hospitals: 4800+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: Starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: PPE kits, gloves, and masks for in-patient treatment
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Ambulance cover; 5% discount for Kotak Group employees and all healthcare workers
Related: Things to note when purchasing health insurance during COVID-19 pandemic
5. Future Generali India Insurance (Incurred Claim Ratio: 73%)
- Network hospitals: 5000+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: Starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available in Annexure A here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: 5% family discount if two or more family members are covered; 5% discount for all healthcare workers
A dedicated coronavirus health plan protects you and your loved ones against the medical expenses arsing due to an infection. The IRDAI has specified guidelines for COVID-19 covers that remain uniform across all general and health insurance providers in India.
Termed as ‘Corona Kavach’, the cover for COVID-19 takes care of all pre- and post-hospitalisation expenses incurred on the treatment of the disease, which may not be covered under a standard health insurance plan.
About 30 different insurance providers offer this cover at varying premium costs. Let us look at 5 popular insurance providers and their service bouquet.
1. Bharati AXA General Insurance (Incurred Claim Ratio: 89%)
- Network hospitals: 4300+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Ambulance cover up to Rs 2000; 5% discount for all healthcare workers
2. Max Bupa Health Insurance (Incurred Claim Ratio: 54%)
- Network hospitals: 4100+
- Sum insured: Rs 50,000 to Rs 5 lakh
- Hospitalisation: starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available in Annexure A here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Coverage for pre-existing diseases along with COVID-19 up to sum insured; 30 minutes for cashless claim processing
Related: COVID-19 and mental health: Is it covered under health insurance?
3. Aditya Birla Health Insurance (Incurred Claim Ratio: 59%)
- Network hospitals: 6000+
- Sum insured: Rs 50,000 to Rs 5 lakh
- Hospitalisation: Starting from a minimum period of 24 hours
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: PPE kits, gloves, and masks for in-patient treatment
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
Related: Does your life insurance policy cover death due to COVID-19?
4. Kotak Mahindra General Insurance (Incurred Claim Ratio: 47%)
- Network hospitals: 4800+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: Starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: PPE kits, gloves, and masks for in-patient treatment
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: Ambulance cover; 5% discount for Kotak Group employees and all healthcare workers
Related: Things to note when purchasing health insurance during COVID-19 pandemic
5. Future Generali India Insurance (Incurred Claim Ratio: 73%)
- Network hospitals: 5000+
- Sum insured: Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000)
- Hospitalisation: Starting from a minimum period of 24 hours
- Pre/post-hospitalisation expenses: Pre-hospitalisation expenses covered for a maximum of 15 days and post-hospitalisation expenses for a maximum of 30 days
- Domiciliary treatment: Up to a maximum of 14 days
- Consumables: Comprehensive list of inclusions and exclusions available in Annexure A here
- Applicability: Individual or family floater option
- Ayush treatment: Available for hospitalisation over 24 hours
- Pre-policy health check-up: Not required
- Validity: 105 days, 195 days, or 285 days
- Hospital cash benefit: 0.5% of total sum insured per day for every 24 hours of hospitalisation (for a maximum of 15 days)
- Additional benefit: 5% family discount if two or more family members are covered; 5% discount for all healthcare workers
