Team AckoSept 13, 2023
While the Corona Kavach covers the treatment of Covid-19, the Arogya Sanjeevani policy is a standard all-in-one health insurance policy that covers all types of hospitalization including Covid-19 treatment. Additionally, the Corona Kavach is a short-term health plan, while the Arogya Sanjeevani offers a minimum 1-year cover. Below are the main differences between IRDAI approved Arogya Sanjeevani and Corona Kavach policy.
While buying health insurance policies, it is essential to understand your health insurance needs. For example, suppose you already own a comprehensive health insurance policy or a group health cover and wish to buy an additional layer of protection due to the rising Covid-19 treatment costs. In that case, Corona Kavach may be the right choice for you. However, suppose you are buying a health policy for the first time and wish to buy a more Comprehensive cover covering Covid-19 treatment costs and other medical expenses. In that case, Arogya Sanjeevani is a good buy for you.
Both the policies cover Covid-19 treatment and are IRDAI approved. However, they vary in terms of coverage, premium, and benefits. The below table highlights the difference between the two policies.
|Features||Arogya Sanjeevani Policy||Corona Kavach Policy|
|Coverage||Individual/Family Floater||Individual/Family Floater|
|Types of Cover||Indemnity||Indemnity|
|Sum Assured||Rs. 3 Lakhs to Rs. 10 Lakhs||Rs. 50,000 to Rs. 5 Lakhs|
|Premium Cycle||Monthly/Quarterly/Half-yearly/Single Payment||Single-Premium|
|Tenure||1 Year||Short-term plan. Available only for 3.5/6.5/9.5 Months|
|Entry Age||18 to 65 years (Dependent child age between 3 months to 25 years)||18 to 65 years|
|Hospitalisation Expenses||Medical expenses due to hospitalisation including Covid-19 treatment||Covid-19 treatment only|
|Pre-Hospitalisation Expenses||Up to 30 days||Up to 15 days|
|Post-Hospitalisation Expenses||Up to 60 days||Up to 30 days|
|Cataract Treatment||25% of sum insured or maximum of Rs. 40,000||NA|
|Cumulative Bonus||5% Increase in sum insured for each claim-free year, subject to a maximum of 50% of the sum insured||NA|
Since Covid-19 insurance policies are short-term, i.e., 3.5 months, 6.5 months, and 9.5 months - hence, you pay the premium amount only once. Therefore, there is no renewability option here. In the case of Standard Health Insurance policies, you can pay the premium amount on a monthly, quarterly, half-yearly, or yearly basis, depending on the plan and the insurance company. Usually, the duration of standard policies is for 1-year, and you need to renew it each year to get the benefits.
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