Canara Bank offers Corona Kavach Policy
COVID-19, News

Canara Bank offers Corona Kavach Policy

July 31, 2020

Mysore/Mysuru: Due to the quick spread of highly-infectious Novel Coronavirus (COVID-19), panic-stricken people are feeling insecure and scrambling to take a health insurance cover. 

The steep rise in Covid cases has resulted in the Insurance Regulatory and Development Authority (IRDAI) to compel insurers to offer short-term Covid-specific health plans that will cover hospitalisation expenses related to the treatment of COVID-19. 

Keeping this in mind, Canara Bank, as part of its social commitment to indemnify the unprecedented expenses of  common man, has announced launch of Corona Kavach Policy by tying up with three insurance companies — New India Assurance Company Ltd.,  Bajaj Allianz General Insurance Co. Ltd. and HDFC ERGO Health Insurance Co. Ltd. — at a very competitive premium structure, starting with as low as Rs. 300. 

 The salient features of the policies are: • It can be purchased on an individual basis and family floater basis.

  • The minimum sum insured is Rs. 5,000 and maximum is Rs. 5 lakh.
  • Minimum 24 hours hospitalisation is required.
  • Maximum period of insurance will be 285 days or 9-and-a-half months.
  • Initial waiting period will be 15 days from the date of issuance.
  • No capping on room rent.
  • Home care treatment as per insurer policy maximum up to 15 days.
  • Treatment expenses for pre-hospitalisation of 15 days and post-hospitalisation of 30 days are covered.
  • Ayush treatment is available upto 100 % of the sum insured.
  • Co-morbid conditions also covered.
  • Optional hospital cash covered.

  For more details, visit Canara Bank website www.canarabank.com or contact the nearest Canara Bank Branch, according to a press release from the Bank.

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