Chola MS COVID-19 Cover

Chola MS COVID-19 Cover

Coronaviruses are a large family of viruses which may cause illness in animals or humans. In humans, several coronaviruses are known to cause respiratory infections ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). The most recently discovered coronavirus causes coronavirus disease COVID-19.

A specialized Health insurance cover for Novel Corona Virus (nCoV) (COVID-19) provides a financial protection to the Insured at the time of emergency resulting in lesser impact on his/her finances.

Chola MS COVID-19 is an Insurance Cover intended to provide a Lump sum benefit if the Insured is diagnosed with Novel Corona Virus (Covid-19) during the policy period.

The Covid-19 health insurance cover specializes in providing financial protection to the insured party at the time of an emergency, which helps decrease the impact on one's finances. During the period of the policy, Chola MS will provide a lump sum benefit if the Insured is to be diagnosed with Novel CoronaVirus.

Why do you need a Corona Health Insurance Policy?

It's simple. The cover offers a range of benefits such as -

- Lump-sum benefit on diagnosis with Covid-19

- 50% of the chosen base Sum Insured per month up to a maximum of 3 months towards Loss of Job due to diagnosis or confirmed quarantine for Covid-19.

- The insured may avail the cover for their self or certain family members - Spouse, up to 2 dependent children and Parents on Individual Sum Insured basis.

- Each covered person will have an independent sum inured limit within the same policy.

- Daily Benefit for every completed 24 hrs of hospitalization or quarantine for diagnosis or suspected Covid-19 up to a maximum of 15 days, upon additional premium.

Here are a few things to keep in mind on how to prevent coronavirus contraption -

- Always wear a mask when you go out. Especially, if you are around other people.

- Wash and clean your hands, often. Use soap and water or alcohol-based hand rubs/sanitizers.

- Remember to maintain a safe distance from other individuals and groups.

- Do not touch your eyes, mouth or nose before washing your hands.

- If you are unwell, avoid going out. Seek medical help if you have cough, fever and breathing difficulty

- Get the Chola MS Covid-19 health insurance now and provide your family with a safety-net during such difficult times. At the same time, do not forget these tips as they can help you and your family to stay safe and healthy.


Key Benefits:

- Base Cover: Lump sum Benefit on Diagnosis of COVID-19
- Daily Cash Benefit: Daily benefit for every 24 hours of hospitalization or quarantine completed
- Loss of Job: 50% of the chosen base Sum Insured per month upto a maximum of 3 months towards Loss of Job
- This Insurance is available to persons aged between 03 months and 65 years (Completed age) at the commencement date of this policy.
- The Proposer should be minimum 18 years on the Commencement date of the policy
- Maximum entry age for Children would be 25 years (Completed Age)
- Insured can avail cover for Self and his or her family members as follows: Spouse, Dependent Children upto 2 and Parents on Individual Sum Insured Basis.
- Each Covered person will have an independent Sum Insured limit within the same policy.

Policy Term:

- One Year

Pre-Policy Health Checkup:

- No Pre-Policy Medical Checkup is applicable.

Tax Exemption:

- The premium paid under this policy for Self, Spouse, Children, and Parents is eligible for deduction under Section 80D of Income Tax Act.

Premium Payment:

- Single Premium payment prior to commencement date of cover

The coronaviruses are essentially a large family of viruses which can cause illness in humans and animals. Many coronaviruses are known to cause respiratory infections in humans, from the common cold to severe diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). The recently discovered coronavirus causes the coronavirus disease, COVID-19.

The coronavirus has taken the world by a storm. An unfortunate and scary time for us all. Given the situation at hand, it is important we have some measures in place to help get through these tough times. So to help individuals cope with the possible burdens that arise in these unfortunate times, a specialised health insurance cover for the Novel CoronaVirus (nCov) (Covid-19) is in place. This can help the insured and his/her family cope up with the possibly heavy impact on their finances in a time of emergency.

The Chola MS COVID-19 is an Insurance cover intended to provide a lump-sum benefit for the insured if the individual is diagnosed with the Novel Coronavirus (Covid-19) during the policy period. Here are the benefits of Covid Insurance -

- The base cover includes a lump sum benefit on diagnosis of covid-19.

- Daily cash benefits are available for every 24 hours of hospitalisation or quarantine that is completed.

- In the event of a loss of job due to covid-19, 50% of the chosen sum insured amount is given per month upto 3 months.

- The insurance is available to people between the ages of 3 months to 65 years.

- The insured can avail the cover for self or for family (spouse, upto 2 dependent children and parents) on individual sum insured basis.

- Each person will have an individual sum insured limit under the same policy.

What Does Chola MS COVID-19 Cover?



What it does not cover?

Waiting Period: The Company shall not be liable for any claim arising for Novel Corona Virus (nCoV) (COVID-19) within 16 days from the first policy commencement date with us.

B. General Exclusions:
The policy does not cover any losses caused due to the following:

- Any condition for which the insured had signs or symptoms, and/or was diagnosed, and/or received medical advice/treatment within the waiting period.

- Testing done in a centre other than the ones authorized in India

- Any person who was tested positive for COVID-19 before commencement of the policy with us /who has had an episode of COVID- 19in the past and fully cured.

- Diagnosis and treatment outside India.

- Any treatment taken on OPD basis

- If the Insured has travelled outside India within last 3 months.

- Treatment in any hospital or any other provider network that We blacklisted as listed.

Specific Exclusions applicable to Daily Cash Benefit:

- Self-Quarantine by the Insured

- Quarantine advised by any unauthorized testing center

- Quarantine/Isolation at any unauthorized center

- Self-Isolation during lock-down

- Any exclusion mentioned in the General Exclusions section of this Policy.

Specific Exclusions applicable to Loss of Job Cover:

- Any Termination, dismissal or temporary suspension from employment for reasons other than the above

- Unemployment at the time of inception of the Policy or arising within the first 15 days of inception of the Policy Period.