Canara Bank ties up with three insurers to provide Corona Kavach policies

The bank has tied up with New India Assurance Company Ltd, Bajaj Allianz General Insurance Co Ltd and HDFC ERGO Health Insurance as part of social commitment to indemnify the unprecedented expenses of common man.

Canara Bank on Friday said it has tied-up with three insurance companies to sell short-term Corona Kavach policy to cover COVID-19 related health expenses.

The bank has tied up with New India Assurance Company Ltd, Bajaj Allianz General Insurance Co Ltd and HDFC ERGO Health Insurance as part of social commitment to indemnify the unprecedented expenses of common man.

With the objective of providing insurance cover for individuals for COVID-19 pandemic related 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 Rs 300, Canara Bank said in a release.

Among the key features of the policy are – purchase on individual and family floater basis, minimum sum insured of Rs 50,000 to a maximum of Rs 5 lakh, no capping on room rent, and home care treatment up to 15 days.

The policy which will be available for a maximum period of 9 and half months (or 285 days), will also cover Ayush treatment up to 100 per cent of sum assured and coverage of co-morbid conditions.