As the number of COVID-19 cases continues to surge, the national insurance regulator is pushing standardized policies to help people protect themselves from the deadly disease.
The Insurance Regulatory and Development Authority of India (IRDAI) has announced two policies - Corona Kavach and Corona Rakshak - that insurers across the country have to start selling mandatorily by July 10.
Corona Kavach to be sold by general and health insurers
Corona Kavach will be a standard indemnity policy that will cover the treatment of the disease for a tenure between 3.5 and 9.5 months.
The maximum sum insured under this will be Rs. 5 lakh and the coverage would include the cost of the treatment of the disease, hospitalization (including pre, post-hospitalization expenses), expenses of home care, AYUSH treatment, and comorbid condition treatment.