Corona Kavach - Covid insurance plans

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Julian said:
Is this the actual premium amount or a dummy sample? Is this only a corona plan or a complete health cover+corona cover?
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Actual premium. My agent had sent this to show me how the dependant child will get separate sum insured in the same policy. It is only for Corona. It is the Corona Kavach policy.
Julian said:
So can i get this without having any existing health coverage?

I checked out star health's rakshak site, and they are saying they don't need any pre existing condition checks. Just the 15 day wait period. For a 9 month cover of 2.5 lakhs, the premium is 6k something.

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Yeah. No health checkup. You can get it even and especially if you have no existing health cover. The premium you are quoting is the Corona Rakshak plan. I will add a doc that my agent had shared that outlines the diff between corona rakshak and kavach plans.
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This is the diff between the corona rakshak and kavach plans.
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Now I'm even more confused which one may be better for a single person.

The kavach is less than half the cost. But the lump sum payment is more convenient if it comes to it. 2.5 lakhs should be enough for a single person?
 
Julian said:
Now I'm even more confused which one may be better for a single person.

The kavach is less than half the cost. But the lump sum payment is more convenient if it comes to it. 2.5 lakhs should be enough for a single person?
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Think again. A day in ICU in most of the private hospitals will cost anywhere between 50-70k.
You are right that the lump-sump amount does look good as well. Maybe @logistopath can ask his agent if one can take both and how would that work.
 
rdst_1 said:
Think again. A day in ICU in most of the private hospitals will cost anywhere between 50-70k.
You are right that the lump-sump amount does look good as well. Maybe @logistopath can ask his agent if one can take both and how would that work.
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That's a good point. It's total looto these days.

This is something like the old cashless vs regular argument. I think if someone has 5 lakhs disposable in the bank to pay upfront, the kavach may be a better option after all. Higher cover and a few more options. And almost 1/3 the cost.
 
rdst_1 said:
Maybe @logistopath can ask his agent if one can take both and how would that work.
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The Corona Rakshak is a fixed benefit policy. Once you are hospitalized for 3 continuous days for Covid treatment after being diagnosed positive, the insurer has to give you the entire sum insured as a lumpsum amount.
Corona Kavach is an indemnity plan. So expenses as per hospital bills will be settled after taking into account any sublimits or exclusions. Period of hospital admission has to be just one full day.

To my knowledge, one can take both, and get benefited by both. So suppose someone is diagnosed covid positive and is hospitalized for over 3 days.. He has to submit prrof of hospitalization and claim the lumpsum amount for rakshak plan. He can then submit all bills (or go for cashless option) after end of his treatment, and claim how much ever it has cost, in the kavach plan. Reimbursement for kavach will not be affected by the lumpsum amount you received from the rakshak plan.
 
How exactly do they make the payment for the rakshak claim? Like give a cheque or DD in the name of the insured?
 
I guess you will have to give them your bank account details. Even the kavach plan has an add-on where 0.5% of sum insured per day of hospitalization will be disbursed to the insured person. Will try to find out the details from my agent.
 
Yes i saw that. It costs around 400 bucks additional. Pay out would be 2.5k per day for the 5L plan
 
rdst_1 said:
In your experience with Star Health, do they require all original documents to be submitted.
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I am not sure if they require all in originals compulsorily. I had to claim reimbursement for my dad a few years ago, and at that time we did submit whatever originals we had with us.

rdst_1 said:
In that case, how would one make 2 claims, especially if both are with different companies.
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You will have to claim reimbursement from company 1, and after that get a settlement certificate from them. For company 2, you will have to submit this settlement certificate along with photocopies of the necessary documents. So suppose your expenses amount to 5 lakhs - you can claim any amount less than or equal to the sum insured in company 1 and get their claim settlement certificate (for eg. 3 lakhs). Then with company 2, you submit photocopies of docs, the company 1's settlement certificate, and claim the remaining amount less than or equal to your sum insured with company 2.

This article gives a good outline of some common scenarios - https://economictimes.indiatimes.co...iple-health-policies/articleshow/47415514.cms
 
logistopath said:
You will have to claim reimbursement from company 1, and after that get a settlement certificate from them. For company 2, you will have to submit this settlement certificate along with photocopies of the necessary documents. So suppose your expenses amount to 5 lakhs - you can claim any amount less than or equal to the sum insured in company 1 and get their claim settlement certificate (for eg. 3 lakhs). Then with company 2, you submit photocopies of docs, the company 1's settlement certificate, and claim the remaining amount less than or equal to your sum insured with company 2.

This article gives a good outline of some common scenarios - https://economictimes.indiatimes.co...iple-health-policies/articleshow/47415514.cms
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Thank you. But your example talks about 2 indemnity policies and can be used in case one insurance's coverage is not enough. I was asking about specifically the Corona Kavach and Corona Suraksha in which one is an indemnity policy while one is benefit policy. I still think there must be some way to do this but an experienced person like your agent could probably guide better.
 
rdst_1 said:
Thank you. But your example talks about 2 indemnity policies and can be used in case one insurance's coverage is not enough. I was asking about specifically the Corona Kavach and Corona Suraksha in which one is an indemnity policy while one is benefit policy. I still think there must be some way to do this but an experienced person like your agent could probably guide better.
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Will try to find out and let you know.
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Spoke to my agent, and he confirmed the same. You can submit original documents for claiming with one policy. Then submit the settlement certificate and photocopies of documents with the next claim. The settlement certificate will prove that you had submitted all the originals earlier.
He also mentioned that the claim form will have an entry requesting you to mention if you are covered with any other health insurance plans. You will have to mention details of any such plans irrespective of whether you intend to claim with the other insurer or not.
 
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so say you had a total bill of 6 lakhs and the kavach policy covered that completely, i.e. 5L. Will you subsequently get the full 2.5L for the rakshak or only 1 lakhs? Since they can see the settlement certificate.
 
Julian said:
so say you had a total bill of 6 lakhs and the kavach policy covered that completely, i.e. 5L. Will you subsequently get the full 2.5L for the rakshak or only 1 lakhs? Since they can see the settlement certificate.
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The 'Rakshak Plan' is a benefit plan whereas 'Kavach Plan' is an indemnity plan. Means that in 'Kavach' the amount you get depends on how much you get charged by the hospital. Whereas in 'Rakshak Plan', if you meet the requirements stated in the plan, you get the full 2.5L irrespective of how much your expenditure was.
 
^^ Mine is going to expire in a couple of weeks. Right now, I am considering taking a Super Surplus plan rather than another Corona plan. I have to go through the fine print and see what it entails.
 
Please let me know your findings... I've family policy with star for a coverage of 15L... so their super surplus policy is better and cheaper addon, provided it covers Corona too.
 
Sailing in the same boat here with my corona Kavach plan due to expire in May.
I have sufficient regular insurance . Should I continue with Kavach also or is there some other plan that does the same ?
Or is Kavach plan just not needed if one has sufficient regular insurance ?
If someone who is aware about all this they can kindly elaborate in this thread here .
 
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