CORONA KAVACH POLICY PREMIUMS COMPARED

  Plan is same , but Premiums are different 

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

SPECIAL NOTE DATED 27.12.2021 :  As  the pandemic Covid-19 has spread globally  and  insurance companies  received  high claims  . Hence  many of the insurance companies  have recently enhanced   the premiums they collect on their various   health insurance schemes .  

  The  premiums we have used for comparison   are more than  one year   and  they may not be valid now . Hence please  check the current  charges   of the insurance companies   before buying . 

However  on reading the article , you will realize that premiums quoted may widely vary from one insurance company to the other  and hence  comparing the premium before taking a policy is an important exercise for you   . ​

PREMIUM FOR CORONA KAVACH POLICIES

COMPARE THE PREMIUMS  BEFORE BUYING   CORONA KAVACH POLICY 

24.07.2020 :   30 insurance companies   were given  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  . 

 But some insurance companies have   published  the premium charts  which we have used below to compare  for different age groups and to find who is offering  the lowest  premium . For this comparison  , we selected 6 insurance companies who have published their premium charts on the web . Two are public sector general insurance companies , two are  private sector general insurance companies  and the remaining two are exclusive health insurance companies . 

​  We found  that each company has their own age band to quote premiums  .  Hence  we selected  quotes for 3  specific ages of 22 years , 42 years and 62 years  representing  young , middle aged and senior  citizens .  You can find that  the variations  are    staggeringly  different . 

For example  Universal sompo insurance company  quotes just Rs 122 for 3.5 months policy for  a cover of Rs 50,000 for a 22 year old person  , for the same Manipal Cigna health insurance co  quotes Rs 1,242  which is 10 times the premium  .  You can go through the tables   drawn by us for persons of different ages  and find how much the premiums vary . If this is the case  with 6 companies , think  about different premiums  quoted by all the insurance companies numbering 29  . 

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 . 

Hence it will be better for you to get quotes from various insurance companies  before you finalize  the  policy from whom you buy . For the websites of all the insurance companies that are  permitted  , CLICK HERE 

We shall be happy to receive feedback   on this issue from our readers .  

NOTE :   The information on premiums quoted below were taken at the launch of the product . Subsequently insurance companies would have altered  the premium chart  . Hence we advise  you to go to the website of   insurance companies and get the latest of  the quotes  for you   , compare them and decide . 

  To know more about CORONA KAVACH POLICY , CLICK HERE 

 THE PREMIUM FOR  22 YEARS  OLD   FOR A PERIOD OF 3 MONTHS 15 DAYS 

INSURANCE COMPANY	Rs 50,000	​Rs 1,00,000	​Rs 1,50,000	​Rs 2,00,000	​Rs 2,50,000	​Rs 3,00,000	​Rs 3,50,000	​Rs 4,00,000​	​Rs 4,50,000	Rs 5,00,000
National Insurance	​315	510	600	670	845	955	1,020	1,145	1,255	1,360
​UNITED INDIA (incl GST )	209	255	313	369	404	438	472	506	540	575
MANIPAL CIGNA ​	​1,242	1,414	1,524	1,592	1,639	1,686	1,709	1,821	1,872	1,923
Bajaj Allianz	447	531	555	585	615	648	681	717	753	792
Star  Health	350	525	683	819	942	1,055	1,160	1,253	1,341	1,408
Universal Sompo	122	239	327	371	444	518	664	737	811	884

 THE PREMIUM FOR  22 YEARS  OLD   FOR A PERIOD OF 6 MONTHS 15 DAYS 

INSURANCE COMPANY ​	​Rs 50,000	​Rs 1,00,000	​Rs 1,50,000	​Rs 2,00,000	​Rs 2,50,000	​Rs 3,00,000	​Rs 3,50,000	​Rs 4,00,000	​Rs 4,50,000	​Rs 5,00,000
​National Insurance	​460	745	875	975	1,230​	1,390	1,485​	1,660​	1,820​	1,975​
​UNITED INDIA (incl GST )	​300	392	​507	​621	​689	758	826	894	963	1,031
MANIPAL CIGNA ​	​2,336	​2,675	2,892	​3,027	3,119	3,211	​3,256	3,477	3,578	3,678
Bajaj Allianz ​	596	708	740	780	820	864	908​	956	1,004	1,056
​Star  Health	​420	630	819	983	1,130	1,266	1,392	1,504	​1,609	1,690
Universal Sompo ​	244	478	654	742	888	1,035	1,328	1,475	1,621	1,768

 THE PREMIUM FOR  22 YEARS  OLD   FOR A PERIOD OF 9 MONTHS 15 DAYS 

INSURANCE COMPANY	​Rs 50,000	​Rs 1,00,000	​Rs 1,50,000	​Rs 2,00,000	​Rs 2,50,000	​Rs 3,00,000	​Rs 3,50,000	​Rs 4,00,000	​Rs 4.50,000	​Rs 5,00,000
National Insurance	555	900	​1,055	1,175	1,485	1,670	1,790	2,005	2,195	2,385
​UNITED INDIA (incl GST )	​391	529	​702	872	​975	1,077	1,180	1,283	1,385	1,488
MANIPAL CIGNA ​	3,389	3,890	4,210	4,408	4,544	4,680​	4,747	5,073	5,221	5,370
Bajaj Allianz ​	​745	885	​925	975	1,025	1,080	1,135	1,195	​1,255	1,320
​Star  Health	473	709	921	1,106	1,271	1,424	1,566	1,692	1,810	1,901
Universal Sompo ​	345	677	927	1,051	1,251	​1,466	1,881	2,089	2,297	2,504

THE PREMIUM FOR  42 YEARS  OLD   FOR A PERIOD OF 3 MONTHS 15 DAYS 

INSURANCE COMPANY ​	​​Rs 50,000	​Rs 1,00,000	​​Rs 1,50,000	​Rs 2,00,000	​​Rs 2,50,000	​Rs 3,00,000	​​Rs 3,50,000	​Rs 4,00,000	​​Rs 4,50,000	​Rs 5,00,000
​National Insurance	550	935	1,095	1,230	1,530	1,740	1,855	2,045	2,195	2,340
​UNITED INDIA (incl GST )	307	401	520	638	709	780	852	923	994	1,064
MANIPAL CIGNA ​	1,570	1,846	2,016	2,121	2,193	2,265	2,300	2,446	2,511	2,576
Bajaj Allianz ​	​897	1,110	1,167​	​1,227	​1,293	1,359	​1,431	1,503	1,581	1,662
​Star  Health	350​	525	683	819	942	1,055	1,160	1,253	1,341	1,408
Universal Sompo ​	122	239	327	371	444	518	664	737	811	884

THE PREMIUM FOR  42 YEARS  OLD   FOR A PERIOD OF 6 MONTHS 15 DAYS 

INSURANCE COMPANY ​​	​​​Rs 50,000	​​Rs 1,00,000	​​​Rs 1,50,000	​Rs 2,00,000	Rs 2,50,000	​​Rs 3,00,000	​​​Rs 3,50,000	​Rs 4,00,000	​Rs 4,50,000	​Rs 5,00,000
​National Insurance	795	1,355	1,590	1,875	2,220	2,520	2,695	2,970	3,185	3,395
​UNITED INDIA (incl GST )	496	684	923	1,159	1,300	1,442	1,586	1,728	1,869	2,011
MANIPAL CIGNA ​	2,983	3,526	3,862	​4,069	4,211	​4,353	4,423	4,710	4,839	4,967
Bajaj Allianz ​	​1,196	1,480	1,556	1,636	1,724	​1,812	1,908	​2,004	2,108	​2,216
​Star  Health	420​	630	​819	983	1,130	​1,266	​1,392	1,504	1,609	1,690
Universal Sompo ​	244	478	654	742	888	1,035	1,328	​1,475	1,621	1,768

THE PREMIUM FOR  42 YEARS  OLD   FOR A PERIOD OF 9 MONTHS 15 DAYS 

INSURANCE COMPANY ​​	​​​Rs 50,000	​​Rs 1,00,000	​​​Rs 1,50,000	​Rs 2,00,000	​​​Rs 2,50,000	​​Rs 3,00,000	​​​Rs 3,50,000	​Rs 4,00,000	​Rs 4,50,000	​Rs 5,00,000
​National Insurance	960	1,635	1,920​	2,150	2,680	3,040	3,250	3,580	3,845	4,095​
​UNITED INDIA (incl GST )	​684	968	1,325	1,679	1,892	2,104	2,320	2,532	​2,745	2,957​
MANIPAL CIGNA	4,344	5,145	5,640	5,946	6,155	​6,365	6,468	6,891	​7,081	7,270
Bajaj Allianz ​	​1,495	​1,850	​1,945	2,045	​2,155	2,265	2,385	2,505	​2,635	2,770
​Star  Health	473	709	​921	1,106	1,271	1,424	1,566	1,692	1,810	1,901
Universal Sompo ​	345	677	927​	1,051	1,251	1,466	1,881	2,089	2,297	2,504

THE PREMIUM FOR  62 YEARS  OLD   FOR A PERIOD OF 3 MONTHS 15 DAYS 

INSURANCE COMPANY ​​	​​​Rs 50,000	​​Rs 1,00,000	​​​Rs 1,50,000	​Rs 2,00,000	​​​Rs 2,50,000	​​Rs 3,00,000	​​​Rs 3,50,000	​Rs 4,00,000
​National Insurance	925	1,555	1,820	2,040	2,520	2,875	3,060	3,335	3,535	3,720
UNITED INDIA (incl GST )	765	1,093	1,501	1,908	2,152	2,395	2,640	2,883	3,127	3,370
MANIPAL CIGNA ​	1,898	2,289	2,522	2,666	2,765	2,863	​2,912	3,092	3,171	3,251
Bajaj Allianz ​	​1,494	2,253	​2,370	2,493	​2,622	2,760	2,901	3,054	3,210	​3,378
​Star  Health	​420	630	819	983	1,130	1,266	1,392	1,504	1,609	1,690
Universal Sompo ​	195	383	523	594	711	828	1,062	1,180	1,297	1,414

THE PREMIUM FOR  62 YEARS  OLD   FOR A PERIOD OF 6 MONTHS 15 DAYS 

INSURANCE COMPANY ​​	​​​Rs 50,000	​​Rs 1,00,000	​​​Rs 1,50,000	​Rs 2,00,000	​​​Rs 2,50,000	​​Rs 3,00,000	​​​Rs 3,50,000	​Rs 4,00,000
​National Insurance	1,340	2,255	2,640	2,965	3,660	4,175	4,440	4,840	5,125​	5,395
​UNITED INDIA (incl GST )	1,411	2,067	2,884	3,698	4,187	4,673	5,161	5,647	6,136	6,622
MANIPAL CIGNA ​	​3,630	4,401	4,861	​5,145	5,339	5,534	5,630	5,984	​6,141	6,298
Bajaj Allianz ​	1,992	3,004	3,160​	3,324	3,496	3,680	​3,868	4,072	4,280	4,504
Star  Health	504	756	983	1,179	1,356​	1,519	1,671	1,805	1,931	2,027
Universal Sompo ​	390	765	1,046	1,187	1,422	1,656	​2,125	​2,359	2,594	2,828

THE PREMIUM FOR  62 YEARS  OLD   FOR A PERIOD OF 9 MONTHS 15 DAYS 

INSURANCE COMPANY ​​	​​​Rs 50,000	​​Rs 1,00,000	​​​Rs 1,50,000	​Rs 2,00,000	​​​Rs 2,50,000	​​Rs 3,00,000	​​Rs 3,50,000	​Rs 4,00,000
​National Insurance	1,620	2,715	3,185	3,575	4,410	5,035	5,360	5,835	6,190	6,510
​UNITED INDIA (incl GST )	2,058	3,042	4,267	5,488	6,221	6,950	7,683	8,412	9,145	9,874
MANIPAL CIGNA ​	​5,298	​6,435	7,114	7,532	7,819	8,107	8,248	​8,771	​9,002​	9,233
Bajaj Allianz ​	2,490​	​3,755	3,950	4,155	4,370	4,600	4,835	​5,090	5,350	5,630
Star  Health	​567	851	1,106	1,327	1,526	1,709	1,880	2,030	2,172	2,281
Universal Sompo ​	552	1,084	​1,482	1,682	2,014	2,346	3,010	3,342	3,675	4,007

  
 To go to the websites / brochures of the above  insurance companies ,   Click on their names.

1.     National Insurance  co Ltd    

2.    United India Insurance  co Ltd     

3.    ManipalCigna Health Insurance Company Limited

4.   Bajaj  Allianz General Insurance co ltd 

5      Star  Health  & Allied Insurance co Ltd

6.        Universal Sompo General Insurance co ltd

INSURANCE COMPANIES ISSUING CORONA KAVACH POLICY

Dated 11.07.2020  : Now the Authority had issued clearance to the following 30 General and Health Insurance companies to market this Corona Kavach Policy. You can click  here to get the  list  of Insurance companies 
 ​

NEW ARTICLE       

                                                       SECURING  HEALTH     FOR SENIOR CITIZENS 
 
                                                                              WITH OR WITHOUT ENTRY AGE RESTRICTION   


TO  READ THE ARTICLE                                                         CLICK HERE 


TO GET ANSWERS FOR FAQs on MANAGEMENT  OF POLICIES ,    CLICK HERE 
​​

DO YOU KNOW ? 

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 .       

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                                                                       NEW  ARTICLES ON    
                                                                       
 SMALL FINANCE BANKS                                                                       PAYMENT  BANKS      
                                                                         
UNIFIED  PAYMENT INTERFACE                                                              BHARAT BILL PAYMENT SYSTEM   

        BHIM APP                                                                                             AADHAR    

                                                    e-INSURANCE   Account (   eIA  )     

WHAT IS NEW ON PLAN N PROGRESS ?      ​

​
TAX BENEFIT UNDER  SECTION 80D OF INCOME TAX ACT 

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 . 

​ISSUERS OF HEALTH  COVERS 


 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

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​INSURANCE                LIFE INSURANCE                   HEALTH INSURANCE                 VEHICLE INSURANCE          HOUSEHOLD INSURANCE
                                                                       
 SMALL FINANCE BANKS          PAYMENT  BANKS         UNIFIED  PAYMENT INTERFACE                      BHARAT BILL PAYMENT SYSTEM   

                                                 BHIM APP                                                                                             AADHAR