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Canara Bank Partnered with 3 insurers to Provide Individual Short-Term Corona Kavach Policy

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Canara Bank ties up with three insurersAs part of a social commitment to compensate the unprecedented expenses of ordinary people, Canara bank has partnered with 3 insurers namely, New India Assurance Company Ltd, Bajaj Allianz General Insurance Co Ltd and HDFC ERGO Health Insurance Co Ltd to offer individual short-term Corona Kavach policy to cover COVID-19 related health expenses.

Key Features of the Policy

i.Premium- The premium of the policy starts from Rs 300. 

ii.Purchase- Purchase can be made on an individual basis and family floater basis. 

iii.Availability- The policy will be available for a maximum period of 9 and half months (or 285 days).

iv.24 hrs hospitalization needed- A minimum 24 hours hospitalization is required. 

v.Minimum & Maximum sum Insured- The minimum sum insured is Rs 50,000 and maximum is Rs 5 lakh.

vi.No Capping– There is no capping on room rent, and home care treatment up to 15 days.

vii.Policy Covers

  • It will cover Ayush treatment up to 100% of sum assured and cover co-morbid conditions.
  • It also covers the Optional hospital cash.

Note– In medicine, comorbidity is the presence of one or more additional conditions often co-occurring with a primary condition.

Recent Related News:

Insurance Regulatory and Development Authority of India (IRDAI) made it mandatory for all general and health insurers to launch short-term standard health policies for coronavirus disease viz. Corona Kavach and Corona Rakshak.

About Canara Bank
Headquarters– Bangalore, Karnataka
Chairman– T.N. Manoharan
Managing Director(MD) & Chief Executive Officer(CEO)– L.V. Prabhakar
Tagline– Together We Can