Deccan Chronicle

Covid cover tenure to be extended


The insurance regulator may provide options to policyhold­ers of coronaspec­ific health covers to either renew their covers or port to other health plans to ensure that they remain covered.

T.L. Alamelu, membernon-life at the Insurance Regulatory and Developmen­t Authority of India (Irdai), while speaking at the Assocham esummit, said, “Actually we have been debating in the last 10 days on mainstream­ing corona specific plans. I think when we launched them, we were optimistic in thinking that the pandemic would end soon but now that is not going to happen we are thinking of ways and means. And sooner rather than later, we would be issuing instructio­ns on how the Corona Kavach or Corona Rakshak plans can be mainstream­ed or the plans be renewed or they be allowed to port or migrate to other plans so that the policyhold­ers to whom the insurance companies have sold these plans continue to get a good cover not only for covid but for the entire health spectrum.”

In July, the insurance regulator had mandated insurers to provide two specific health insurance policies for Covid-19 treatment, namely Corona Kavach health insurance policy and Corona Rakshak health insurance policy. These two plans cover hospitalis­ation expenses, domiciliar­y treatment, Ayush treatment, and the cost of consumable items like PPE kits, masks, gloves, oximeters, oxygen cylinders, etc.

However a key difference between a Corona Kavach and Corona Rakshak is that the former option only covers the hospital bill whereas the sum insured is paid to the insured in the latter.

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