CORONA KAVACH POLICY
 A standard Short term Insurance exclusively forÂ
​Covid -19 Â
No one should have to choose between medicine and other necessities. No one should have to use the emergency room every time a child gets sick. And no one should have to live in constant fear that a medical problem will become a financial crisis.
                                         -  Brad Henry |
|
IRDAIÂ ASKS INSURERS TO OFFERÂ RENEWAL OF COVID POLICIESÂ Â UP TO 30.09.2022Â :Â
Dated 29.03.2022 : IRDAI had introduced two short term covid specific policies called Covid Kavach and Covid Rakshak  . Â
 Now IRDAI has advised the insurance companies  to offer and permit renewal of both the policies till  30th , September 2022 .Â
​ For Press Release dated 28.03.2022 in this regard , CLICK HEREÂ
Dated 29.03.2022 : IRDAI had introduced two short term covid specific policies called Covid Kavach and Covid Rakshak  . Â
 Now IRDAI has advised the insurance companies  to offer and permit renewal of both the policies till  30th , September 2022 .Â
​ For Press Release dated 28.03.2022 in this regard , CLICK HEREÂ
CORONA KAVACH POLICY CAN BE ISSUED AS A GROUP POLICY :Â Â IRDAIÂ
22.07.2020 :    In partial modification of earlier instruction , Insurance Regulatory & Development Authority of India ( IRDAI ) has permitted insurance companies to issue  Corona Kavach policies as a Group policy also . Earlier the policy was restricted for individuals and families .Â
The amendment will help commercial and industrial establishments like banks , insurance companies , factories , transport companies , Delivery agents to cover their entire staff who are potentially exposed to covid-19  with insurance . Â
To read IRDAI GUIDELINES dated 21.07.2020 , CLICK HEREÂ
22.07.2020 :    In partial modification of earlier instruction , Insurance Regulatory & Development Authority of India ( IRDAI ) has permitted insurance companies to issue  Corona Kavach policies as a Group policy also . Earlier the policy was restricted for individuals and families .Â
The amendment will help commercial and industrial establishments like banks , insurance companies , factories , transport companies , Delivery agents to cover their entire staff who are potentially exposed to covid-19  with insurance . Â
To read IRDAI GUIDELINES dated 21.07.2020 , CLICK HEREÂ
PREMIUM FOR CORONA KAVACH POLICIES
COMPARE THE PREMIUMSÂ BEFORE BUYINGÂ Â CORONA KAVACHÂ
12.07.2020 :  30 insurance companies have now got permission to launch Corona Kavach Policies . We understand from media reports that  premiums for the same policies quoted by different insurance companies are widely different from each other . Some are quoting premium in hundreds while some others are quoting in thousands for the short term policy . As insurance companies also are not having previous experience in handling such policies , initial divergence in premiums quoted are expected . Further  insurance companies are yet to come out with transparent premium chart for different amounts and for different aged people . As they publish the prices , we will bring further clarity on the issue .Â
Hence in case you  want to purchase Corona Kavach policy , get quote from different insurance companies , compare and settle for the best in prices . Terms & conditions  quoted by all insurance companies are to be same for Corona Kavach .Â
For the list of insurance companies permitted , go to the last section of this page and find out   Â
ADDENDUM :Â
1. Universal Sompo General insurance company has now published their premium chart . It starts from Rs 85 for 3 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 2,652 for a 65 years old and above for Rs 5.00 lakhs cover . It starts from Rs 171 for a cover for 6 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 5,303 for a 65 years old and above for Rs 5.00 lakhs cover .  It starts from Rs 242  for a cover for 9 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 7,513  for a 65 years old and above for Rs 5.00 lakhs cover . Â
​For their complete chart , CLICK HERE  Â
2. National  Insurance company has now published their premium chart . It starts from Rs 155 for 3 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 5,085 for a 65 years old and above for Rs 5.00 lakhs cover . It starts from Rs 230 for 6 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 7,370 for a 65 years old and above for Rs 5.00 lakhs cover . Similarly it starts from Rs 275 for 9 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 8,900 for a 65 years old and above for Rs 5.00 lakhs cove
 .
​For their complete chart , CLICK HERE  Â
Most of the insurance companies are yet to publish  their premiums on their websites . Some require you to furnish your personal information like name , e-mail address and mobile numbers to get a quote from them . But press reports suggest  variations in age slabs as well as the premium quoted by insurance companies . Hence one has to get quotes for his particular age by the insurance companies to compare the premium applicable to him / her . By reading of such reports , we found that the quotes of Universal Sompo General Insurance company ( promoted by Indian Bank , Indian Overseas Bank & Karnataka Bank among others ) are agressive and are quite competitive and favors well compared with many other insurance companies  in many age slabs . However one may get quotes individually from different insurance companies before buying a policy .Â
We shall be happy to receive feedback  on this issue from our readers .  Â
TOÂ KNOW MORE ABOUT CORONA KAVACH POLICY PREMIUMS AND COMPARISION OF PREMIUM , CLICK HEREÂ
12.07.2020 :  30 insurance companies have now got permission to launch Corona Kavach Policies . We understand from media reports that  premiums for the same policies quoted by different insurance companies are widely different from each other . Some are quoting premium in hundreds while some others are quoting in thousands for the short term policy . As insurance companies also are not having previous experience in handling such policies , initial divergence in premiums quoted are expected . Further  insurance companies are yet to come out with transparent premium chart for different amounts and for different aged people . As they publish the prices , we will bring further clarity on the issue .Â
Hence in case you  want to purchase Corona Kavach policy , get quote from different insurance companies , compare and settle for the best in prices . Terms & conditions  quoted by all insurance companies are to be same for Corona Kavach .Â
For the list of insurance companies permitted , go to the last section of this page and find out   Â
ADDENDUM :Â
1. Universal Sompo General insurance company has now published their premium chart . It starts from Rs 85 for 3 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 2,652 for a 65 years old and above for Rs 5.00 lakhs cover . It starts from Rs 171 for a cover for 6 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 5,303 for a 65 years old and above for Rs 5.00 lakhs cover .  It starts from Rs 242  for a cover for 9 months 15 days for a 17 year old for Rs 50,000 and it goes up to Rs 7,513  for a 65 years old and above for Rs 5.00 lakhs cover . Â
​For their complete chart , CLICK HERE  Â
2. National  Insurance company has now published their premium chart . It starts from Rs 155 for 3 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 5,085 for a 65 years old and above for Rs 5.00 lakhs cover . It starts from Rs 230 for 6 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 7,370 for a 65 years old and above for Rs 5.00 lakhs cover . Similarly it starts from Rs 275 for 9 months 15 days for aged up to 20 years for Rs 50,000 and it goes up to Rs 8,900 for a 65 years old and above for Rs 5.00 lakhs cove
 .
​For their complete chart , CLICK HERE  Â
Most of the insurance companies are yet to publish  their premiums on their websites . Some require you to furnish your personal information like name , e-mail address and mobile numbers to get a quote from them . But press reports suggest  variations in age slabs as well as the premium quoted by insurance companies . Hence one has to get quotes for his particular age by the insurance companies to compare the premium applicable to him / her . By reading of such reports , we found that the quotes of Universal Sompo General Insurance company ( promoted by Indian Bank , Indian Overseas Bank & Karnataka Bank among others ) are agressive and are quite competitive and favors well compared with many other insurance companies  in many age slabs . However one may get quotes individually from different insurance companies before buying a policy .Â
We shall be happy to receive feedback  on this issue from our readers .  Â
TOÂ KNOW MORE ABOUT CORONA KAVACH POLICY PREMIUMS AND COMPARISION OF PREMIUM , CLICK HEREÂ
WHAT IS CORONA KAVACH POLICY ?
​A STANDARD INDEMNITY BASED  INSURANCE  POLICY EXCLUSIVELY COVERING COVID -19Â
28.06.2020 :  Presently  Insurance Regulatory & Development Authority of India ( IRDAI ) has permitted insurance companies to issue  COVID – 19 specific short term health insurance policies subject to certain guidelines. . It had also asked insurance companies to consider claims for Corona Hospitalization expeditiously under the existing indemnity based Health insurance policies  .Â
In view of Corona pandemic spreading speedily in various parts of the country and in order to bring a  standard insurance covering Covid -19 , Insurance Regulatory & Development Authority of India ( IRDAI ) has come out now  with proposed  common health insurance policies  to be mandatorily  issued by all insurance companies licensed to issue health policies . The policy with basic cover of indemnity is called CORONA KAVACH POLICY . Though Plan will have common features , premiums can be decided by individual insurance companies .  The other policy CORONA RAKSHAK POLICY  provides lump sum cash on diagnosis of covid .Â
​The prime objective of the policies is to provide basic health insurance for general public with transparent common  features in case one faces Covid -19  .Â
The policy will be issued by 10th, July , 2020 by all the general / health insurers . Â
​For the latest guidelines on Corona Insurance and various policies available , CLICK HEREÂ
28.06.2020 :  Presently  Insurance Regulatory & Development Authority of India ( IRDAI ) has permitted insurance companies to issue  COVID – 19 specific short term health insurance policies subject to certain guidelines. . It had also asked insurance companies to consider claims for Corona Hospitalization expeditiously under the existing indemnity based Health insurance policies  .Â
In view of Corona pandemic spreading speedily in various parts of the country and in order to bring a  standard insurance covering Covid -19 , Insurance Regulatory & Development Authority of India ( IRDAI ) has come out now  with proposed  common health insurance policies  to be mandatorily  issued by all insurance companies licensed to issue health policies . The policy with basic cover of indemnity is called CORONA KAVACH POLICY . Though Plan will have common features , premiums can be decided by individual insurance companies .  The other policy CORONA RAKSHAK POLICY  provides lump sum cash on diagnosis of covid .Â
​The prime objective of the policies is to provide basic health insurance for general public with transparent common  features in case one faces Covid -19  .Â
The policy will be issued by 10th, July , 2020 by all the general / health insurers . Â
​For the latest guidelines on Corona Insurance and various policies available , CLICK HEREÂ
FAMILY FLOATER POLICIESÂ CAN BE ISSUED BY INSURERSÂ Â FOR CORONA KAVACH .
  Family consists of the proposer and any one or more of the family members as mentioned below:
(i)Â Â Â Â Â Â Â Â legally wedded spouse.
(ii)Â Â Â Â Â Â Â Parents and Parents-in-law.
(iii)Â Â Â Â Â Â Â dependent Children (i.e. natural or legally adopted) between the day 1 of age to 25 years. If the child above 18 years of age is financially independent, he or she shall be ineligible for coverage.
  Family consists of the proposer and any one or more of the family members as mentioned below:
(i)Â Â Â Â Â Â Â Â legally wedded spouse.
(ii)Â Â Â Â Â Â Â Parents and Parents-in-law.
(iii)Â Â Â Â Â Â Â dependent Children (i.e. natural or legally adopted) between the day 1 of age to 25 years. If the child above 18 years of age is financially independent, he or she shall be ineligible for coverage.
FEATURES OF CORONA KAVACH POLICIES
BASICÂ FEATURES :Â
1. Policies issued by all insurance companies will comply with IRDAI guidelines on Corona Kavach PolicyÂ
2. The Base Cover of Covid Standard Health Policy shall be offered on Indemnity basis whereas Optional Cover shall be made available on Benefit Basis.
3. The Covid Standard Health Policy shall offer a policy tenure of three and half months (3 ½ months), six and half months (6 ½ months), and nine and half months (9 ½ months) including waiting period.
4.  All insurers will make the policy available to general public by 10.07.2020
5. Minimum insured amount is Rs 50,000  with a maximum of Rs 5 lakhsÂ
6. Minimum entry age of 18 years with a maximum of 65 years .
7.  No deductibles are permitted in this product.
8. 5% discount in premium shall be provided to health care workers. .Â
9 Family floater policies to be made available including insured , spouse , parents / parents in law  with dependent children aged up to 25 years .Â
10 . Premium  to be paid in full at the time of issue .Â
11. The policy will carry same premium pan IndiaÂ
12. Renewal :  may be renewed . till 31st March,2021 , for further terms of three and half months (3 ½ months), six and half months (6 ½ months) or nine and half months (9 ½ months) as per the option exercised by the policyholder. Renewals, if any, may be done before the expiry of the existing policy contract.   Where policy is renewed, additional waiting period of 15 days shall not be imposed and the coverage shall be continued seamlessly. During renewal, sum insured may be allowed to be changed by the policyholder. For any increase in the sum insured, the waiting period shall start afresh only for the enhanced portion of the sum insured.Â
13. Migration :   insurers have the choice to offer migration to any other indemnity based health insurance product offered by them as per the option exercised by the policyholder. Further   insurers have the choice to provide migration to the members insured to any other individual indemnity based health policy at the point of exit of the member insured from the group policy or the cessation of coverage of the underlying group policy.   Where migration is allowed, the accrued gains of waiting period served in the existing policy (Individual/Group) shall be protected in respect of coverage for Covid-19, in the migrated policy. Â
14. Portability: General and Health Insurers are permitted to allow portability from one insurer to another. The accrued gains of waiting period served in the existing policy shall be protected in respect of coverage of Covid-19, by the porting-in insurer.
15. The Policy shall include the cost of treatment for any comorbid condition including pre-existing comorbid condition(s) along with the treatment for Covid.
​
​( Renewal, Migration and portability norms above are as per IRDAI NOTIFICATION DATED 12.10.2020 )
1. Policies issued by all insurance companies will comply with IRDAI guidelines on Corona Kavach PolicyÂ
2. The Base Cover of Covid Standard Health Policy shall be offered on Indemnity basis whereas Optional Cover shall be made available on Benefit Basis.
3. The Covid Standard Health Policy shall offer a policy tenure of three and half months (3 ½ months), six and half months (6 ½ months), and nine and half months (9 ½ months) including waiting period.
4.  All insurers will make the policy available to general public by 10.07.2020
5. Minimum insured amount is Rs 50,000  with a maximum of Rs 5 lakhsÂ
6. Minimum entry age of 18 years with a maximum of 65 years .
7.  No deductibles are permitted in this product.
8. 5% discount in premium shall be provided to health care workers. .Â
9 Family floater policies to be made available including insured , spouse , parents / parents in law  with dependent children aged up to 25 years .Â
10 . Premium  to be paid in full at the time of issue .Â
11. The policy will carry same premium pan IndiaÂ
12. Renewal :  may be renewed . till 31st March,2021 , for further terms of three and half months (3 ½ months), six and half months (6 ½ months) or nine and half months (9 ½ months) as per the option exercised by the policyholder. Renewals, if any, may be done before the expiry of the existing policy contract.   Where policy is renewed, additional waiting period of 15 days shall not be imposed and the coverage shall be continued seamlessly. During renewal, sum insured may be allowed to be changed by the policyholder. For any increase in the sum insured, the waiting period shall start afresh only for the enhanced portion of the sum insured.Â
13. Migration :   insurers have the choice to offer migration to any other indemnity based health insurance product offered by them as per the option exercised by the policyholder. Further   insurers have the choice to provide migration to the members insured to any other individual indemnity based health policy at the point of exit of the member insured from the group policy or the cessation of coverage of the underlying group policy.   Where migration is allowed, the accrued gains of waiting period served in the existing policy (Individual/Group) shall be protected in respect of coverage for Covid-19, in the migrated policy. Â
14. Portability: General and Health Insurers are permitted to allow portability from one insurer to another. The accrued gains of waiting period served in the existing policy shall be protected in respect of coverage of Covid-19, by the porting-in insurer.
15. The Policy shall include the cost of treatment for any comorbid condition including pre-existing comorbid condition(s) along with the treatment for Covid.
​
​( Renewal, Migration and portability norms above are as per IRDAI NOTIFICATION DATED 12.10.2020 )
 WHAT THE POLICY WILL COVER ?Â
Base cover:Â
COVID Hospitalization Expenses: The Hospitalization expenses incurred by the insured person for the treatment of Covid on Positive diagnosis of Covid in a government authorized diagnostic centre. This section shall cover the following:
a)Â Â Room, Boarding, Nursing Expenses as provided by the Hospital / Nursing Home.
b)Â Â Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialist Fees (including consultation through telemedicine as per Telemedicine Practice Guideline of 25th March 2020) whether paid directly to the treating doctor / surgeon or to the hospital.
c)Â Â Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, ventilator charges, medicines and drugs, costs towards diagnostics, diagnostic imaging modalities, PPE Kit, gloves, mask and such other similar expenses
(Expenses on Hospitalization for a minimum period of 24 hours are admissible.)
d)Â Â Intensive Care Unit (ICU) / Intensive Cardiac Care Unit (ICCU) expenses.
e)Â Â Expenses incurred on road Ambulance subject to a maximum of Rs.2000/- per hospitalization.
Â
 Home Care Treatment Expenses: Insurer shall cover the costs of treatment of COVID incurred by the Insured person on availing treatment at home maximum up to 14 days per incident provided that:
a)Â Â The Medical practitioner advices the Insured person to undergo treatment at home.
b)Â Â There is a continuous active line of treatment with monitoring of the health status by a medical practitioner for each day through the duration of the home care treatment.
c)Â Â Daily monitoring chart including records of treatment administered duly signed by the treating doctor is maintained.
d)Â Â Insured shall be permitted to avail the services as prescribed by the medical practitioner. Cashless or reimbursement facility are offered under homecare expenses subject to claim settlement policy disclosed in the website of the Insurer.
e)  In case the insured intends to avail the services of non-network provider, claim shall be subject to reimbursement, a prior approval from the Insurer needs to be taken before availing such services. Insurer shall respond to approval request within 2 hrs of receiving the last necessary requirement.  Â
​
In this benefit, the following shall be covered if prescribed by the treating medical
practitioner and is related to treatment of COVID,Â
a.    Diagnostic tests undergone at home or at diagnostics centreÂ
b.    Medicines prescribed in writingÂ
c.    Consultation charges of the medical practitioner
d.    Nursing charges related to medical staff
e.    Medical procedures limited to parenteral administration of medicinesÂ
f. Cost of Pulse oximeter, Oxygen cylinder and Nebulizer
AYUSH Treatment: The Medical expenses incurred on hospitalization under AYUSH (as defined in IRDAI (Health Insurance) Regulations, 2016) systems of medicine for the treatment of Covid on Positive diagnosis of Covid in a government authorized diagnostic centre shall be covered up to the Sum Insured without any sub-limits.
 Pre-Hospitalization medical expenses incurred for a period of 15days prior to the date of hospitalization/home care treatment following an admissible claim under this policy shall be covered. Pre hospitalization expenses shall also cover the costs of diagnostics towards Covid.
 Post-Hospitalization medical expenses incurred for a period of 30 days from the date of discharge from the hospital/completion of home care treatment, following an admissible claim under this policy shall be covered.
  The Policy shall include the cost of treatment for any comorbid condition including pre-existing comorbid condition (s)along with the treatment for Covid.
NOTEÂ :Â Â No deductibles are permitted in this product.
.Optional cover:
​Hospital Daily Cash: The Company will pay 0.5% of sum insured per day for each 24 hours of continuous hospitalization for treatment of Covid following an admissible hospitalization claim under this policy.
 The Base Cover of Covid Standard Health Policy s will be offered on indemnity basis whereas Optional Cover shall be made available on Benefit Basis.
The benefit shall be payable maximum up to 15 days during a policy period in respect of every insured person.
Base cover:Â
COVID Hospitalization Expenses: The Hospitalization expenses incurred by the insured person for the treatment of Covid on Positive diagnosis of Covid in a government authorized diagnostic centre. This section shall cover the following:
a)Â Â Room, Boarding, Nursing Expenses as provided by the Hospital / Nursing Home.
b)Â Â Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialist Fees (including consultation through telemedicine as per Telemedicine Practice Guideline of 25th March 2020) whether paid directly to the treating doctor / surgeon or to the hospital.
c)Â Â Anesthesia, blood, oxygen, operation theatre charges, surgical appliances, ventilator charges, medicines and drugs, costs towards diagnostics, diagnostic imaging modalities, PPE Kit, gloves, mask and such other similar expenses
(Expenses on Hospitalization for a minimum period of 24 hours are admissible.)
d)Â Â Intensive Care Unit (ICU) / Intensive Cardiac Care Unit (ICCU) expenses.
e)Â Â Expenses incurred on road Ambulance subject to a maximum of Rs.2000/- per hospitalization.
Â
 Home Care Treatment Expenses: Insurer shall cover the costs of treatment of COVID incurred by the Insured person on availing treatment at home maximum up to 14 days per incident provided that:
a)Â Â The Medical practitioner advices the Insured person to undergo treatment at home.
b)Â Â There is a continuous active line of treatment with monitoring of the health status by a medical practitioner for each day through the duration of the home care treatment.
c)Â Â Daily monitoring chart including records of treatment administered duly signed by the treating doctor is maintained.
d)Â Â Insured shall be permitted to avail the services as prescribed by the medical practitioner. Cashless or reimbursement facility are offered under homecare expenses subject to claim settlement policy disclosed in the website of the Insurer.
e)  In case the insured intends to avail the services of non-network provider, claim shall be subject to reimbursement, a prior approval from the Insurer needs to be taken before availing such services. Insurer shall respond to approval request within 2 hrs of receiving the last necessary requirement.  Â
​
In this benefit, the following shall be covered if prescribed by the treating medical
practitioner and is related to treatment of COVID,Â
a.    Diagnostic tests undergone at home or at diagnostics centreÂ
b.    Medicines prescribed in writingÂ
c.    Consultation charges of the medical practitioner
d.    Nursing charges related to medical staff
e.    Medical procedures limited to parenteral administration of medicinesÂ
f. Cost of Pulse oximeter, Oxygen cylinder and Nebulizer
AYUSH Treatment: The Medical expenses incurred on hospitalization under AYUSH (as defined in IRDAI (Health Insurance) Regulations, 2016) systems of medicine for the treatment of Covid on Positive diagnosis of Covid in a government authorized diagnostic centre shall be covered up to the Sum Insured without any sub-limits.
 Pre-Hospitalization medical expenses incurred for a period of 15days prior to the date of hospitalization/home care treatment following an admissible claim under this policy shall be covered. Pre hospitalization expenses shall also cover the costs of diagnostics towards Covid.
 Post-Hospitalization medical expenses incurred for a period of 30 days from the date of discharge from the hospital/completion of home care treatment, following an admissible claim under this policy shall be covered.
  The Policy shall include the cost of treatment for any comorbid condition including pre-existing comorbid condition (s)along with the treatment for Covid.
NOTEÂ :Â Â No deductibles are permitted in this product.
.Optional cover:
​Hospital Daily Cash: The Company will pay 0.5% of sum insured per day for each 24 hours of continuous hospitalization for treatment of Covid following an admissible hospitalization claim under this policy.
 The Base Cover of Covid Standard Health Policy s will be offered on indemnity basis whereas Optional Cover shall be made available on Benefit Basis.
The benefit shall be payable maximum up to 15 days during a policy period in respect of every insured person.
  TO READ COMPLETE GUIDELINES OF IRDAI DATED 26.06.2020 ,  CLICK HEREÂ
INSURANCE COMPANIES ISSUING CORONA KAVACH POLICY
Dated 11.07.2020Â : Now the Authority had issued clearance to the following 30 General and Health Insurance companies to market this Corona Kavach Policy.Â
Â
 For the list of insurance companies and links to  websites , CLICK HEREÂ
Â
 For the list of insurance companies and links to  websites , CLICK HEREÂ
NEW ARTICLEÂ Â Â Â Â
                             SECURING  HEALTH   FOR SENIOR CITIZENSÂ
Â
                                        WITH OR WITHOUT ENTRY AGE RESTRICTION Â
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
TO GET ANSWERS FOR FAQs on MANAGEMENT OF POLICIES ,  CLICK HEREÂ
​​
                             SECURING  HEALTH   FOR SENIOR CITIZENSÂ
Â
                                        WITH OR WITHOUT ENTRY AGE RESTRICTION Â
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
TO GET ANSWERS FOR FAQs on MANAGEMENT OF POLICIES ,  CLICK HEREÂ
​​
DO YOU KNOW ?Â
From  a report  of  Sample Survey Office ,  it is revealed that  80 percent of Indians , who mainly rely up on  private  health care ,  do not  have any medical insurance .  The government has brought  only about 12 %  of population under  health protection schemes like  Rashtriya Swasthya  Bima Yojana . In  the absence of health insurance  , 75 % of Indians  use their hard earned savings  while  18% have to borrow . In order to escape from financial gloom  in the events of  medical emergencies , one has to   definitely require some form of Health insurance .    Â
 KNOW  ABOUT  TAX ON RETIREMENT BENEFITS  , CLICK HEREÂ
FOR INCOME TAX NEWS   , CLICK HERE    NEWS ON INTEREST RATES  CLICK HERE Â
​ARTICLE ON INVESTMENT OPTIONS  FOR RETIREES  ,   CLICK HERE    WHAT IS SYSTEMATIC INVESTMENT PLAN  ?   CLICK HERE Â
​                                Â
                                    NEW  ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR  Â
                            e-INSURANCE  Account (  eIA  )  Â
WHAT IS NEW ON PLAN N PROGRESS ?    ​
FOR INCOME TAX NEWS   , CLICK HERE    NEWS ON INTEREST RATES  CLICK HERE Â
​ARTICLE ON INVESTMENT OPTIONS  FOR RETIREES  ,   CLICK HERE    WHAT IS SYSTEMATIC INVESTMENT PLAN  ?   CLICK HERE Â
​                                Â
                                    NEW  ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR  Â
                            e-INSURANCE  Account (  eIA  )  Â
WHAT IS NEW ON PLAN N PROGRESS ?    ​
​
TAX BENEFIT UNDERÂ SECTION 80D OF INCOME TAX ACTÂ
Deduction allowed  on Medicliam  Policies under 80 D is Rs. 50,000/- for senior citizens and up to Rs. 25,000/- for   others from the financial year 2018-19 . For senior citizens , if no insurance amount is paid , hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his / her parents  if they are senior citizens and  Rs 25,000 in other cases . Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash . Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also .Â
TAX BENEFIT UNDERÂ SECTION 80D OF INCOME TAX ACTÂ
Deduction allowed  on Medicliam  Policies under 80 D is Rs. 50,000/- for senior citizens and up to Rs. 25,000/- for   others from the financial year 2018-19 . For senior citizens , if no insurance amount is paid , hospital expenditure up to Rs 50,000 is allowed . An assessee can claim additional Rs 50,000 for his / her parents  if they are senior citizens and  Rs 25,000 in other cases . Overall claim cannot exceed Rs 1,00,000 . All payments should have been made in any mode other than cash . Cost of preventive health check up up to Rs 5,000 can be claimed within the overall limit and it could have been made in cash also .Â
​ISSUERS OF HEALTH COVERSÂ
 Mediclaim policies are issued by specialized Health / Medical Insurance companies ,  Life Insurers as well as General Insurers .   To get the list and visit their websites , Click Here
 Mediclaim policies are issued by specialized Health / Medical Insurance companies ,  Life Insurers as well as General Insurers .   To get the list and visit their websites , Click Here
  ARTICLES ON  Â
​INSURANCE           LIFE INSURANCE          HEALTH INSURANCE          VEHICLE INSURANCE      HOUSEHOLD INSURANCE
                                   Â
 SMALL FINANCE BANKS      PAYMENT  BANKS      UNIFIED  PAYMENT INTERFACE             BHARAT BILL PAYMENT SYSTEM  Â
                         BHIM APP                                                AADHARÂ
​INSURANCE           LIFE INSURANCE          HEALTH INSURANCE          VEHICLE INSURANCE      HOUSEHOLD INSURANCE
                                   Â
 SMALL FINANCE BANKS      PAYMENT  BANKS      UNIFIED  PAYMENT INTERFACE             BHARAT BILL PAYMENT SYSTEM  Â
                         BHIM APP                                                AADHARÂ