Chola MS COVID-19 Cover

The recent pandemic has necessitated the Insurers to redesign their products to meet the challenge posed by Novel Corona Virus (COVID-19). The Chola MS COVID-19 Cover is one such specialized health insurance that protects the insured from financial burden in an emergency while providing quality healthcare.

Chola MS COVID-19 Cover Insurance Policy delivers a lump-sum cover for both the individual and the family when diagnosed with COVID-19 during the policy term. It also provides coverage for specific needs and woes suffered by the Insured afflicted by COVID-19.

Coverage Offered

The Chola MS COVID-19 Cover Health Insurance is different from other health insurance products due to the exceptional circumstances it has been rolled out. The primary coverage provides the Insured to mainly reduce the financial burden when diagnosed positive for Novel Coronavirus.

Base Cover

The Insured is free to choose the amount of Sum Insured in options of Rs 10,000, Rs 20,000, Rs 30,000, Rs 40,000, and Rs 50,000 to be disbursed as a Lump-sum in the event of a positive diagnosis.

Optional Cover

o Daily Cash Benefit: The insured gets the benefit of daily cash for every completed 24 hours block of hospitalization or quarantine for suspected COVID-19 for up to 15 days. The amount payable to the Insured is Rs 250, Rs 500, Rs 750, and Rs 1000, over and above the Base Cover Sum Insured.

o Loss of Job: The Insured gets an additional benefit of 50% of the opted Base Sum Insured per month for max 3 months on the confirmed diagnosis of COVID-19, resulting in job loss for hospitalization or quarantine.

Inclusions of the Chola MS COVID-19 Cover

Before buying the Chola MS COVID-19 Cover, the policyholder must check the intricate details thoroughly:

Individual Policy

The Insured can buy Chola MS COVID-19 Cover for the Self and the family members comprising Spouse, Parents, and up to 2 Dependent Children from 3 months to 25 years of age on an Individual Sum Insured basis. While the policy can help cover individuals from 3 months to 65 years, the proposer must be over 18 years of age.  

Lump-sum Benefit

The Base Sum Insured is paid to the Insured on the diagnosis of Novel Coronavirus depending on the chosen cover amount.

Optional Covers

The Insured can choose Daily Cash Benefit and Loss of Job as an optional cover on additional premium payment.

Exclusions of the Chola MS COVID-19

The insured must compulsorily check for the exclusions in the policy to obviate unnecessary hassles in claim settlement. Thus, an indicative list of exclusions is described below. The Insured must consult the policy document for greater clarity.

  • Waiting Period: The Policy has an initial waiting period of 16 days from the commencement date, during which the Insurer is not liable for any claims related to COVID-19.

General Exclusions

The Chola MS COVID-19 Cover Health Insurance policy cover does not extend to any losses caused by the following:

  • Any condition within the waiting period related to COVID-19 on suspicion, diagnosis, or medical advice is not covered.
  • Testing for the Novel Coronavirus done in an unauthorized centre in India is excluded.
  • Any person who had tested positive or had been a COVID-19 patient in the past and cured before the commencement of the Policy is not eligible
  • Diagnosis and treatment of COVID-19 outside India are not eligible.
  • Treatment for COVID-19 undertaken in OPD is excluded.
  • Any person who travelled abroad during the last three months is not eligible.
  • Treatment in hospitals other than the Insurer Network except in an emergency, which is subject to verification.  

Specific Exclusion (Daily Cash Benefit)

  • Self-quarantine by the Insured.
  • Quarantine is advised by an unauthorized testing centre or facility.

Specific Exclusion (Loss of Job)

  • Termination or suspension from service not related to COVID-19 is not covered.
  • If the Insured was unemployed before the commencement of the Policy or during the Waiting Period, no cover is extended.

Features & Benefits of the Chola MS COVID-19

The Chola MS COVID-19 Cover Health Insurance has the following features described in a nutshell:

  • Multiple sum insured options for Lump-sum payment.
  • The insured can choose optional covers.
  • No pre-policy medical check-up is necessary.
  • The policy can cover an individual or the entire family as per conditions specified.
  • Tax benefits for the premium paid in a financial year u/s 80D of the Income Tax Act.

Eligibility Criteria

In order to buy this policy, the following eligibility conditions have to be fulfilled:


Individual Policy with a family cover

Minimum Entry Age

03 months

Maximum Entry Age

Adults: 65 years

For children: 25 years

Number of people covered

Spouse, Dependent Children up to 2 and Parents (on Individual Sum Insured Basis)

Residential Status

Residents of India, including citizens and permanent residents

Information on Cancellation of the Policy

Specific cancellation policy for the Chola MS COVID-19 Cover Insurance Policy has not been stipulated. However, the insured can get in touch with the insurance company regarding the same.


Written By: PolicyBazaar - Updated: 24 December 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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