Canara Bank launches Corona Kavach Policy

Canara Bank
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Chennai, July 30, 2020: Due to the quick spread of highly-infectious Novel Corona virus Covid-19, panic-stricken people are feeling insecure and scrambling to take a health insurance cover. The steep rise in Covid cases has resulted the IRDAI to compel insurers to offer short-term Covid-specific health plans that will cover hospitalization expenses related to the treatment of COVID-19.

Keeping in view of the aforesaid, Canara Bank, a leading financial institution today proudly announces as a part of social commitment to indemnify the unprecedented expenses of Common Man, the launch of Corona Kavach policy by the following Insurance companies who have tied up with the bank.

  1. M/s New India Assurance Company ltd. (M/s NIA)
  2. M/s Bajaj Allianz General Insurance Co. ltd. (M/s BAGIC)
  3. HDFC ERGO Health Insurance Co. ltd (M/s HEHI)

With the objective of providing insurance cover for individuals for COVID-19 pandemic related to health expenses, the Bank in association with the tied-up insurance companies has launched the Corona Kavach Policies at a very competitive premium structure, starting with as low as INR. 300/- only.

The salient features of the policies are:

  • It can be purchased on individual basis and family floater basis.
  • The minimum sum insured is INR 5000 and maximum is INR 5 lakh.
  • Minimum 24 hours hospitalization is required.
  • Maximum period of insurance will be of 285 days or 9 and half month.
  • Initial waiting period will be of 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-hospitalization of 15 days and post- hospitalization of 30 days are covered.
  • Ayush treatment is available upto 100 % of sum insured.
  • Co-morbid conditions also covered.
  • Optional hospital cash covered.

The Policy features of the products seen along with the premium structure make them to be the best in the peer group.

For more details, please visit Canara Bank website-www.canarabank.com or contact the nearest Canara Bank Branch.

Stay safe and stay healthy.

About Neel Achary 3196 Articles

Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.