[GUIDE] Standard Insurance Policies launched during Pandemic

Delhi Capitals
Standard Insurance Policies launched during Pandemic

Saral Jeevan Bima
Saral Jeevan Bima is a Standard, Individual term life insurance product that is specially designed for the first-time life insurance buyer. It is a simple and affordable Term Insurance Plan that pays a lump sum benefit in the event of the Life Assured’s death.
The Basic Sum Assured, Premium Payment Term, Policy Term, and Premium Payment Frequency can all be customised to meet your insurance needs.
Total amount of premium payable in a policy year, excluding taxes, underwriting extra premiums, and any modal premium loadings, is known as the annualised premium. It is an individual, Non-Linked, Non-Participating Life Insurance Pure Risk Premium Product.

Saral Pension Annuity Policy
This is a pension-related product. Except to the extent that commutation of such benefits is allowed under the Income Tax Rules, benefits by way of surrender, complete withdrawal, or maturity/vesting will be available in the form of annuities.
It is an individual non-linked traditional pension plan with Guaranteed Bonuses for the first 5 years and Simple Reversionary Bonuses thereafter, if any, for the remainder of the policy term.
An annuity is a payment that is made for the rest of the annuitant’s life. Following the annuitant’s death, the nominee or legitimate heirs will receive a full refund of the purchase price. Monthly, quarterly, half-yearly, and annual intervals are available.
Only arrears payments are made, ensuring that the first annuity payout occurs after the modal term.

Corona Kavach
On a positive COVID-19 diagnosis in a government-approved diagnostic center that requires hospitalisation, policyholders are entitled to the benefits of the policy.
Individual and family floaters are available for the “Corona Kavach Policy.” The following family members can be covered under the policy.
This is a one-time payment COVID-19 treatment indemnity policy that covers COVID-19 treatment for up to 9.5 months. The expenses incurred during organisational treatment or hospitalisation are covered by this policy.
All bill settlements have been made completely cashless, allowing the doctor to focus entirely on the patient rather than making endless rounds to the insurance company.
This policy covers pre-hospitalization expenses for 15 days and post-hospitalization expenses for 30 days.

Corona Rakshak
The Corona Rakshak Health Insurance Policy pays out a lump sum that can be used to cover medical expenses. It is an individual, Non-linked, Non-participating, Health Insurance, Pure Risk Premium product.
No medical examination is required for this streamlined issuance. A minimum premium of Rs 156.50 is required, with a maximum premium of Rs 2,230. Anyone between the ages of 18 and 65 can apply for coverage. Short-term health insurance is provided by the Corona Rakshak Health Insurance Plan.
You have the option of 3.5 months, 6.5months, or 9.5 months of coverage. COVID 19 tests performed outside of a government-approved facility will not be accepted. If a person travels to a country where the Indian government has imposed travel restrictions, the coverage will be stopped.

Mashak Rakshak
According to the IRDAI’s guidelines, starting April 1, all general and health insurance companies must offer Mashak Rakshak, a standard vector-borne disease health policy (IRDAI).
On positive diagnosis of any of the following vector-borne diseases requiring hospitalisation for a minimum continuous period of 72 hours, a lump sum benefit equal to 100% of the Sum Insured shall be payable.
Dengue fever and malaria are two of the most common Vector-Borne diseases transmitted by mosquitoes, ticks, and other insects. At the same time, because of the rising cost of medical care, treatment for these diseases ranges from Rs 25,000 to Rs 1 lakh or more.

Arogya Sanjeevani health policy
Medical expenses have the potential to throw your financial plans into disarray! As a result, it is recommended that you secure your medical expenses with a cost-effective insurance plan that will provide financial assistance in the event of a medical emergency.
This health insurance plan aims to provide a wide range of coverage to protect you from financial hardships caused by hospital bills.