Chola MS COVID-19 Cover

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      Cholamandalam COVID-19 Cover

      The Chola MS COVID-19 Cover provides a lump sum amount to the insured when diagnosed with COVID-19. It offers financial assistance to the insured to manage the medical expenses incurred during the treatment of coronavirus. The policy also comes with the loss of job cover and the daily cash benefit.

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      Cholamandalam COVID-19 Cover: Key Highlights

      Categories Specifications
      Sum Insured Rs 10,000 to Rs 50,000
      Policy Tenure 1 year
      Network Hospitals 10,000+
      Incurred Claim Ratio (2020-21) 77.35%
      Pre-policy Medical Check-up Not required
      Initial Waiting Period 16 days
      Discount 15% direct discount

      Benefits of Cholamandalam COVID-19 Cover

      The Cholamandalam COVID-19 Cover comes with the following key benefits:

      1. Customized Cover for Coronavirus

      This health insurance policy is designed to cover the medical expenses incurred on the treatment of COVID-19.

      2. Compensation for Loss of Job

      If the insured loses his/her job due to being diagnosed with COVID-19, the Cholamandalam MS General Insurance Company pays compensation for up to 3 months.

      3. No Pre-policy Medical Check-up Necessary

      The applicants do not need to undergo a medical check-up before buying this Cholamandalam coronavirus insurance policy.

      4. Tax Benefits

      Tax benefits can be availed on the premium paid for the Chola MS COVID-19 Cover u/s 80D of the Income Tax Act.

      Cholamandalam COVID-19 Cover Eligibility Criteria

      To buy the Cholamandalam COVID-19 Cover, the following eligibility conditions have to be fulfilled:

      Parameters Eligibility Criteria
      Minimum Entry Age Adult – 18 years
      Child - 3 months
      Maximum Entry Age Adult - 65 years
      Child - 25 years
      Coverage Type Individual
      Relationships Covered Self, spouse, dependent children and parents

      Inclusions of Cholamandalam COVID-19 Cover

      The Chola MS COVID-19 Cover includes the following coverage:

      • COVID-19 Cover – It pays a lump sum amount equivalent to the sum insured on the diagnosis of COVID-19.

      Optional Covers:

      • Daily Cash Benefit - The insured gets a daily cash benefit for every 24 hours of hospitalization or quarantine on the diagnosis or suspected COVID-19. The daily allowance is paid for up to a maximum of 15 days. 
      • Loss of Job - It pays compensation to the insured for a maximum of 3 months on hospitalization or quarantine due to the confirmed diagnosis of COVID-19.

      Exclusions of Cholamandalam COVID-19 Cover

      The Cholamandalam COVID-19 Cover excludes the following:

      • Testing for coronavirus done at an unauthorized centre in India
      • Treatment of a person who had previously tested positive for COVID-19 
      • Diagnosis and treatment of COVID-19 taken outside India
      • OPD treatment for COVID-19
      • Treatment of a person who has travelled abroad in the last three months
      • Self-quarantine by the insured
      • Quarantine advised by an unauthorized testing centre or facility
      • Termination or suspension from the job for reasons not related to COVID-19
      • If the insured was unemployed before the policy commencement or during the waiting period

      FAQs

      Policybazaar exclusive benefits
      • 30 minutes claim support*(In 120+ cities)
      • Relationship manager For every customer
      • 24*7 claims assistance In 30 mins. guaranteed*
      • Instant policy issuance No medical tests*
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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.

      *Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

      ~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ

      ##On ground claim assistance is available in 114 cities

      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

      Policybazaar is a registered Composite Broker |Registration No. 742, Valid till 09/06/2024, License category- Composite Broker| Visitors are hereby informed that their information submitted on the website may be shared with insurers.

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