Get <strong>₹5 Lac</strong> Health Insurance starts <strong>@ ₹315/<span>month*</span></strong>
Get ₹5 Lac Health Insurance starts @ ₹315/month*
Get ₹5 Lac Health Insurance starts @ ₹315/month*
250+ Plans 18 Insurance Companies
₹ 5 Lakh Coverage @ ₹ 10/day
7 Lakh+ Happy Customers

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

Insurers Can Sell Corona Kavach Policy as Group Insurance - IRDAI

In a recent announcement, the Insurance Regulatory and Development Authority of India (IRDAI) permits both standalone health insurers and general insurers to offer Corona Kavach Policy as a group insurance policy. Soon, other organizations and companies will be able to buy Corona Kavach health insurance policy for their workers and employees. As per the insurance providers, this individual short-term indemnity policy is getting a good response from the people since it’s after July 10. All the 30 insurance companies have started offering this policy.

Amid a spurt in COVID-19 cases in India, IRDAI has now allowed health insurers to offer this Corona Kavach health insurance policy as a standard group insurance product to help business entities, public and private sector companies to provide medical insurance cover to their employees. If sold as a group policy, it can offer health protection and peace of mind to a large number of employees (and their families) who are engaged in logistics sector manufacturing companies, migrant workers, workers in SMEs, and MSMEs.

In their circular, the Insurance Regulatory and Development Authority of India (IRDAI) mentioned that standard corona kavach group policy is likely to be useful to several public and private establishments for covering coronavirus related medical needs of their employees. Additionally, when sold as a group insurance policy it will also be useful for different categories of frontline workers.

And if any hospital or medical facility wants to buy the corona Kavach group insurance policy for their healthcare workers, nurses, and doctors, then they will be able to avail a discount of 5 percent on the premium. This is a gesture in recognition of their contribution towards the COVID-19 battle.

The terms and conditions of this standard corona Kavach group policy will be similar to the policy for individuals that has recently been launched by general and health insurers in India. The policy term options for short-term Corona Kavach policy are 3.5 months, 6.5 months, and 9.5 months and the coverage amount ranges from Rs 50,000 to Rs 5 lakh.

IRDAI has permitted the insurers to use this standard product name for the group policy after adding the word "group" and all policy terms and conditions applicable to the standard individual product shall remain the same except for the premium rate and specification on the operation of group policy.

The regulator has also directed all the general insurance companies to engage with their policyholders to circulate information regarding COVID-19 safety and precautions.

Updated: 15 September 2020
Written by Amit Chabra
Author | 4 Posts

Amit, leads the health insurance business unit for Policybazaar. He has been able to showcase a significant turnaround for the Health insurance business unit and make Policybazaar as one-stop destination for all the online health insurance needs. He is also responsible for forging new partnerships to further expand the health insurance business. He loves writing poems and his favourite travel accompaniment is his sweet little daughter.

5,020,359 Confirmed Cases in India*
34,478,590 Confirmed Cases worldwide*
931,582 Confirmed deaths worldwide*
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

You May Also Want to Know About

Top Maternity Insurance Plans

Top Maternity Insurance Plans

Maternity or pregnancy is an important phase of life, and one needs to prepare in advance to embrace parenthood. Though rearing a child is an expensive affair and may require good financial backup to meet the requirements of a growing baby. From ho...
Health Insurance for Parents

Health Insurance for Parents

Are you planning to buy health insurance for your parents? Well, the Indian Insurance market is currently flooded with healthcare plans specifically designed for senior citizens or elderly parents above 60 years. And many insurance providers also o...
Health Insurance Claims Ratio- Things You Should Look Before Buying Health Insurance

Health Insurance Claims Ratio- Things You Should Look Before Buying Health Insurance

There has always been a doubt in customers mind about whether the private company will keep its side of the bargain i.e. it will settle the claim or not. A customer spends premium annually which will cover his medical expenses but there’s always ...
Best Health Insurance Plans for Senior Citizens in 2020

Best Health Insurance Plans for Senior Citizens in 2020

Considering the increasing percentage of medical inflation in India, it has become an absolute necessity to buy adequate health insurance for your loved ones. And if they are your elderly parents, then it is all the more imperative to get them medi...
Here’s the Difference between Health Insurance and Mediclaim

Here’s the Difference between Health Insurance and Mediclaim

Imagine you’re looking for a job change. You get an interview call for a job. What will be your plan of action? Will you get your resume ready and prepare for the interview or you will try to extract all the possible information about the job pro...
Download the Policybazaar app
to manage all your insurance needs.