CANARA BANK LAUNCHES CORONA KAVACH POLICY
Chennai, July 30, 2020:
Due to the quick spread of highly-infectious Novel Corona virus Covid-19, panic-stricken people are feeling insecure and scrambling to take a health insurance cover. The steep rise in Covid cases has resulted the IRDAI to compel insurers to offer short-term Covid-specific health plans that will cover hospitalization expenses related to the treatment of COVID-19.
Keeping in view of the aforesaid, Canara Bank, a leading financial institution today proudly announces as a part of social commitment to indemnify the unprecedented expenses of Common Man, the launch of Corona Kavach policy by the following Insurance companies who have tied up with the bank.
- M/s New India Assurance Company ltd. (M/s NIA)
- M/s Bajaj Allianz General Insurance Co. ltd. (M/s BAGIC)
- HDFC ERGO Health Insurance Co. ltd (M/s HEHI)
With the objective of providing insurance cover for individuals for COVID-19 pandemic related to health expenses, the Bank in association with the tied-up insurance companies has launched the Corona Kavach Policies at a very competitive premium structure, starting with as low as INR. 300/- only.
The salient features of the policies are:
- It can be purchased on individual basis and family floater basis.
- The minimum sum insured is INR 5000 and maximum is INR 5 lakh.
- Minimum 24 hours hospitalization is required.
- Maximum period of insurance will be of 285 days or 9 and half month.
- Initial waiting period will be of 15 days from the date of issuance.
- No capping on room rent.
- Home care treatment as per insurer policy maximum up to 15 days.
- Treatment expenses for pre-hospitalization of 15 days and post- hospitalization of 30 days are covered.
- Ayush treatment is available upto 100 % of sum insured.
- Co-morbid conditions also covered.
- Optional hospital cash covered.
The Policy features of the products seen along with the premium structure make them to be the best in the peer group.
For more details, please visit Canara Bank website-www.canarabank.com or contact the nearest Canara Bank Branch.
Stay safe and stay healthy.
About Canara Bank:
Widely known for its customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through various phases of growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties period was characterized by business diversification. In June 2006, the Bank completed a century of operations in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones.
After amalgamation of Syndicate Bank into Canara Bank on 01.04.2020, the bank has attained the position of 4th largest Public Sector Bank in the country with a total business of Rs. 15, 53,792 crores. With 10403 domestic branches, 13448 ATMs and about 6000 Business Correspondents, the Bank has got unparalleled potential to become the numero uno nationalized bank in the country with a premier position in the comity of Indian banks.
