IRDAI allows launch of 'Corona Kavach' insurance policies

General and Health Insurance companies has received approval from the Insurance Regulatory and Development Authority of India (IRDAI) to launch short-term ‘Corona Kavach’ health insurance policies. The short-term “Corona Kavach” health insurance policy will cover medical expenses occurred due to coronavirus disease. The policy will also offer for any co-morbid condition caused due to COVID-19 during the period of hospitalization.

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About the Corona Kavach policy:

IRDAI has designed a standard Covid specific product which addresses the basic health insurance requirements of insuring public containing common policy wordings across the industry.
The sum insured amount of the policy ranges from Rs 50,000 to Rs 5,00,000.
Person between the age of 18 to 65 years can avail the benefits of the policy.
People will be able to avail the Corona Kavach policy for Self, spouse, parents, parents-in-law as well as dependent children up to 25 years of age.

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