– September 21, 2020The regulatory body of the insurance industry said that medical insurance for the novel coronavirus, Corona Kavach, is offered to citizens up to the age of 65 years old. However, for those above the age of 65, insurers offer the product based on the insurance company’s underwriting policy and the risk appetite. The Insurance Regulatory and Development Authority of India (IRDAI) also said that the scheme has provided coverage between Rs. 50,000 and Rs. 5 lakh for 3.5 to 9.5 months and a 5% discount is offered to health care workers. The insurance apex body in India said that a premium has to be paid even if it is senior citizens as a low premium will have to cross-subsidised by people who do not fall under the senior citizen category. The body further added that this would discourage younger customers from buying the Corona Kavach policy. Corona Kavach was launched to cater to the treatment of Covid-19 and is solely designed for medical treatment of the deadly infection.