Bajaj Allianz General Insurance, India’s leading private general insurer has rolled out its standard COVID-19 health indemnity policy, “Corona Kavach Policy, Bajaj Allianz General Insurance.” This policy is as per the guidelines issued by IRDAI June 26, 2020 to introduce a health indemnity product that addresses the basic health insurance needs of insuring public related to COVID-19.
The sum insured of this policy is between Rs 50,000 – Rs 5 lakh and the customer can opt for this policy for a period of three and half months, six and half months and nine and half months. The premium for the base cover ranges between Rs 447 to Rs 5,630 excluding GST, depending on the age of the person, sum insured & policy period opted.
Similarly, for an optional hospital daily cash cover on benefit basis the premium is between of Rs 3 to Rs 620 excluding GST, which varies as per age of the person, sum insured and policy period opted. So for instance, if a person between 0-35 years wants to opt for a base cover with sum insurance of Rs 50,000 for three and a half months, the customer needs to pay Rs 447, excluding GST.
It is mandatory to opt for base cover which entails COVID-19 hospitalisation expenses, home care treatments, AYUSH treatment, pre-hospitalisation of up to 15 days and post-hospitalisation expenses of up to 30 days. A customer can also opt for an optional hospital daily cash cover on benefit basis along with the base cover, wherein the company shall pay the insured person 0.5% of sum insured per day for each 24 hours of continuous hospitalisation. This policy has a waiting period of 15 days and can be opted on individual and family floater basis.
Bajaj Allianz General Insurance has more than 6,500 network hospitals and that coupled, with in-house health administration team, it aims to be there for its customers in the times of their need and offer them seamless service.