Royal Sundaram Corona Kavach Policy
In this time of the pandemic, medical treatment costs are touching the sky and unpredictability is at its peak. So, at this time, it has become essential to prepare oneself and family for any unforeseen situation. One step towards this is opting for a health insurance policy that covers the expenses of Covid related treatment. Keeping this urgent need of the society in mind, the IRDAI introduced a standard Covid insurance policy with the name of Corona Kavach and asked all the insurance providers to incorporate this policy. One such insurer is Royal Sundaram that has launched the Royal Sundaram Corona Kavach policy.
Key Features and Benefits of Royal Sundaram Corona Kavach Policy
This is a Covid specific health insurance policy that provides coverage for individuals and families both for various treatments related to coronavirus infection. A brief description of this policy is as follows:
- One can purchase this policy for both individual and family floater basis.
- According to the regulations of IRDAI, healthcare workers are eligible to get a 5% discount on premiums.
- The sum insured of this policy starts from Rs. 50,000 and go up to Rs. 5 lakhs.
- The cashless treatment facility is offered in all the network hospitals of Royal Sundaram.
- The premium that one pays is eligible for tax benefits u/s 80D of the IT Act.
- The waiting period for this policy is 15 days. This means if a person is eligible to get Covid treatment expenses only after completing 15 days after policy purchase.
The eligibility criteria for purchasing Royal Sundaram Corona Kavach Policy are:
- Adults – 18 years to 65 years
- Children – One day to 25 years (in case of dependent children)
- Policy type – The policy is available on an individual and family floater basis. In the family floater plan, a maximum of six adults and four children are covered. To cover additional children, a separate or new family floater policy will be needed.
- Policy Term – 3 ½ months, 6 ½ months, and 9 ½ months.
Inclusions of Royal Sundaram Corona Kavach Policy
If the insured is diagnosed positive for coronavirus in a government authorized diagnostic center, the following is provided under the policy:
Hospitalization and Other Expenses for the Treatment of Covid – 19:
- Room rent
- Boarding and nursing expenses
- Expenses of ICU and ICCU
- A consultation fee of the surgeon, medical practitioner, anesthetist
- Expenses of the on-road ambulance to a maximum of Rs. 2000 per hospitalization.
Homecare Treatment Expenses:
If the medical practitioner advice Covid patient to stay at home and undergo the treatment there, the policy provides the following coverage:
- The policyholder is eligible to avail of the services as prescribed by the doctor.
- Expenses of diagnostic tests undergone at diagnostic centers or homes are taken care of by this policy.
- Expenses of all the medicines that are prescribed in writing by the doctor.
- Consultation charges of the doctor are also covered.
- Nursing charges are also covered if required.
- The cost of a pulse oximeter, nebulizer, and oxygen cylinder are also covered.
All the medical expenses incurred for 15 days before admitting to the hospital are covered.
All the medical expenses incurred for 30 days after getting discharged from the hospital or homecare treatment are covered.
AYUSH Treatment Expenses:
The expenses that are incurred during the hospitalization for treating Covid. This also includes the treatment of Comorbid conditions up to the Sum Insured limit in any AYUSH hospital.
Under optional cover:
- Hospital Daily Cash: The Royal Sundaram Health Insurance Company pays 0.5% of the sum insured every day for every 24 hours of continuous hospitalization to treat Covid for up to 15 days during the period of the policy concerning every person who is insured.
Exclusions of Royal Sundaram Corona Kavach Policy
The company is not liable to make any payment under Corona Kavach policy, concerning any expenses that are incurred concerning or in connection with the following conditions:
- Evaluation and Investigation Expenses: All the expenses related to any hospitalization before the diagnosis of Covid – 19 are not included.
- Any diagnostic expenses that are not incidental to or related to the current treatment and diagnosis.
- All the expenses that are related to any admission basically for enforced bed rest and not for getting treatment. This as well includes:
- Custodial care either in a nursing facility or at home for personal care like help with day-to-day activities such as dressing, bathing, moving around either through skilled assistant or nurse or some non-skilled person.
- Any medical services for the people who are critically ill to address any social, physical, spiritual, or emotional needs.
- Dietary substances and supplements that are purchased without any prescription are not covered.
- Unproven treatment expenses are also not covered.
- Any Covid related claim wherein it is diagnosed before the start date of the policy.
- Any expenses that incur on OPD treatment or daycare treatment.
- Testing performed at the diagnostic center that is not authorized by the government is not covered under this policy.
- All covers under this insurance policy get ceased if the policyholder travels to any place or country that is under the restrictions of travel by the Indian government.
Royal Sundaram Corona Kavach Policy - FAQs
Ans. Royal Sundaram Corona Kavach policy provides the following options of the sum insured:
- One lakh
- 1.5 lakhs
- Two lakhs
- 2.5 lakhs
- 3 lakhs
- 3.5 lakhs
- 4 lakhs
- 4.5 lakhs
- 5 lakhs
Ans. The waiting period of the Royal Sundaram Corona Kavach policy is 15 days.
Ans. One is needed to provide the below-mentioned documents for claiming for the hospitalization expenses for treatment of Covid-19 in Royal Sundaram Corona Kavach policy:
- Completely filled and signed claim form.
- Photo identity proof, if one does not own a passport
- Copy of the passport, if one has
- Prescription of a doctor advising admission
- Receipts of payment
- Original bills that have itemized break-up
- Discharge summary that has a full medical history of the patient with other details
- Some other relevant documents needed by a third-party administrator (TPA) for the claim assessment
Ans. Yes, this policy offers an optional cover with the name of ‘Hospital Daily Cash’. If one opts for this, the insurer pays 0.50% of the sum insured every day after completing 24 hours in the hospital for 15 days.
Ans. Yes, one can avail of the tax benefits under section 80C of the Income Tax Act for the premiums that he/she pays for his/her Royal Sundaram Corona Kavach policy.
Written By: PolicyBazaar - Updated: 03 May 2021