Covid impact: Keralites spend over Rs 3.38 cr on insurance
Kozhikode: With the increasing Covid-19 cases in the state, Keralites have spent over Rs 3.38 crore in terms of insurance premium in past 20 days. 4 public sector banks garnered Rs 2.18 crore through the ‘Covid Kavach’ and ‘Covid Raksha’ policies.
10,446 policies were sold by New India, United, National and Oriental insurance companies.
In the case of private sector, 6938 new policies were issued.
It was on July 10, Insurance Regulatory and Development Authority of India (IRDAI) approved two policies exclusively for Covid treatment. Through these policies, the insurance money will be obtained from 14 days of joining the policy. There are individual and group policies.
Anyone between 18 – 65 years of age can join the Covid insurance policies. The Covid Raksha policy has short-term plans from 3.5, 6.5 and 9.5 months. The coverage starts from Rs 50,000 to Rs 2.5 lakh. One can pay Rs 915, Rs 1098 and Rs 1235 respectively depending on the term for insured sum of Rs 50,000.
In case of Covid Kavach policy, the treatment expense at the hospital will be reimbursed.
At present, there are 30 insurance companies in India providing Covid-19 treatment insurance.