New Delhi: The solace of health insurance policies in Corona Kavach and Corona Rakshak to safeguard against the deadly coronavirus infection indeed came as a relief amid ballooning healthcare costs during a raging pandemic.

Almost every insurance company in the country is offering the Insurance Regulatory and Development Authority-mandated Covid-19 health insurance policy Corona Kavach while many are offering the standard benefit-based policy Corona Rakhak.

Although the features of both the policies are similar across different insurance companies offering these products, the premiums vary to a great degree. This prompts buyers to opt for those policies that are priced at the lower limit of the premium range.

Given social distancing norms owing to a raging pandemic, many users would prefer to buy these policies online. However, a few insurance companies are not offering these policies online to users who have certain pre-existing conditions.

However, all is not lost as insurers cite technical difficulties in making the products available online in a timely fashion. Both HDFC Ergo General Insurance and Aditya Birla Health Insurance reportedly said that the products were launched in a very short time interval and therefore making them available online was taking some time.

Industry insiders are of the view that insurers may find it financially unviable to cover people with comorbidities due to which some people with pre-existing conditions are finding it difficult to buy the policy online.

Almost every insurer except for Max Bupa has asked details around existing diseases, with specific questions around chronic diseases like Heart disease, Diabetes, etc, as per Beshak.org, an insurance research firm.

Corona Kavach: In view of the Covid 19 pandemic, the IRDAI designed a standard Covid-specific product addressing basic health insurance needs of insuring public with common policy wordings across the industry. The IRDAI mandated general and health insurers to offer this indemnity based Individual Covid Standard Health Policy.

Covid Kavach is an Indemnity-type insurance plan that is available for individuals and families and will offer a sum insured of up to Rs 5 lakh for hospitalisation expenses related to Covid-19. The policy covers consumables such as PPE kit, gloves, mask and other similar expenses incurred during the treatment of coronavirus.

Corona Rakshak: Another Covid-specific health insurance policy which pays hospitalisation charges for covid treatment. It covers expenses towards PPEs, nebulizers, masks, cylinders, gloves, oximeters, AYUSH treatment etc which are limited under regular medical policy. It is available for individuals in the age group of 18 to 65 for sum insured from Rs 2.5 lakh to 5 lakh.