Corona Virus (COVID-19) Update: Loan for Coronavirus Treatment

With more than 156,000 global cases and at least 5,833 deaths globally, Coronavirus continues to spread across the world. With 107 positive cases in India, the number just keeps growing.

To provide financial aid to the people inflected with the COVID-19, CareCover, a healthcare financing company, is offering medical loans up to Rs 5 lakh towards the treatment of Coronavirus.

CareCover will offer health protection via loan cards to the coronavirus victims. The medical loan card will financially support the victim and his/her family with an instant loan of up to 5 lakh.

This loan is said to be disbursed within an hour for the treatment of this kind of medical emergency. Additionally, the loan is interest-free for the tenure of 1 year, and for the tenure of 18 months to 24 months, a rate of interest between 12-15 percent will be charged. The minimum amount of loan is set at Rs 15,000.

To avail the healthcare benefits from CareCover, the borrower needs to enroll and obtain the card with a validity of one year. He/she then needs to submit KYC documents like PAN card, Aadhaar card, bank statement, etc. This loan can be availed by anyone between the ages group of 21 to 60 years.

While an individual can enroll himself for Rs 999 per year, in case of the addition of each family member as a beneficiary, the individual has to pay Rs 500 per additional member to the maximum of 3 add on members. However, note that there are no charges for any processing fees for the loan. There is only an annual subscription fee for the card.

Once you get the valid CareCover activated cards, you can simply call at the toll-free helpline number (9298889888) to get the loan. Giving them your necessary details like the name of the person seeking treatment, hospital name, and the amount required for treatment. Borrowers also need to provide a letter from the hospital, verifying the patient name and bill estimation.