Industrial units buy Covid cover for staff

Coimbatore: When P Kalimuthu, 43, tested positive for Covid-19 recently, he was free from the worries that arise from the fear of depleting his life savings to foot the bills for his treatment, as his employer, Raveendra Pneumatic Equipments at the Sidco industrial estate, has been paying premiums for him under the ‘corona kavach policy’, a health insurance policy.
Under the policy, which is provided by several private insurance companies, Kalimuthu can undergo treatment in private hospitals without spending money out of his pocket, within the limit stipulated in his policy.
Like Raveendra Pneumatic Equipments, which has nine employees, a handful of units in the industrial estate has taken Covid cover for their employees to meet unexpected hospital expenses during the infection.
These units pay a premium between 300 and 1,500 under each employee’s name, who can avail the insurance cover ranging between 1 lakh and 5 lakh respectively. Unlike regular health covers that are annually renewed, the corona kavach policy should be renewed in 105 days, 195 days, or 285 days, based on the preference.
P Nallathambi, founder of Raveendra Pneumatic Equipments, said the initiative was taken after the district witnessed a severe spike in Covid-19 cases last May.
“During that time, many workers in industrial units tested positive for the virus and were struggling to pay their hospital bills. Soon some units subscribed to the policy as it gets activated in 15 days. The policy helped workers to not worry about money when they get infected with Covid,” said Nallathambi, who is also the president of the Coimbatore Sidco industrial estate manufacturers’ association.
S Surulivel, a co-owner of Prakash Gears, said nearly 50 workers in his company are covered under the corona kavach policy. “Some units take contributions from the workers to pay the premium. But, a few workers were reluctant to pay a part of the premium. So the majority of the units pay the premium themselves,” he said.
Besides the insurance cover for Covid-19, some units had subscribed to group insurance and accidental insurance policies for their workers.
R Nagarajan, founder of Best Heat Treatment Services, said, “For an accident cover of 2 lakh, we pay a premium of 450 per employee, who can avail treatment without paying money under the limit if they met with an accident inside or outside the workplace.”