New Delhi: 29 companies have been given the approval to start Corona Armor insurance policy among the patients of Coronavirus growing in the whole country. All these companies have been approved by the Insurance Regulatory and Development Authority of India (IRDAI). IRDAI had already asked all the companies to start a policy of short duration (3.5 months to 9.5 months) to deal with the epidemic. Companies that have been allowed to bring policies are already working in the general and health insurance sectors.
IRDAI had asked the general and health insurance companies to present Corona Kavach Health Insurance Policy by July 10. The number of coronavirus infected cases in the country has reached about 8 lakh and it is increasing continuously. According to the guidelines of IRDAI, the policy can come for short term for three and a half months, six and a half months and nine and a half months. The insurance amount is likely to range from Rs 50,000 to Rs 5 lakh (in multiples of Rs 50,000).
Of the 29 general and health insurance companies that IRDAI has allowed to bring Corona Kavach insurance policy, public and private sector insurance companies like Oriental Insurance, National Insurance, SBI General Insurance, ICICI Lombard, HDFC Ergo, Max Bupa, Bajaj Allianz, Bharti AXA and Tata AIG.
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