Corona Rakshak Policy – 2022

Corona Rakshak Policy is a standard benefit based single-premium health insurance plan. You will get 100% sum insured in lumpsum if you are tested COVID-19 and require hospitalization of 72 hours or more. You can buy the policy online for a sum insured of up to Rs 2.5 lakh, and avail the best possible COVID-19 treatment.

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Corona Rakshak Policy at a Glance:

FeaturesSpecifications
CoverageRs 50,000– Rs 2.5 lakh
Sum Insured100% Lumpsum payment
Consumable ItemsPPE Kits, masks, gloves, etc. covered
Tenure3.5, 6.5, & 9.5 months
PremiumRs 700 onwards
Waiting Period15 days
Age Criteria1865 years
why buy corona rakshak policy

The policy was launched by the Insurance Regulatory and Development Authority of India (IRDAI) to ensure that you and your loved ones have COVID insurance cover and can seek treatment without worrying about the expenses. While Corona Kavach Policy also provides a sum insured up to Rs 5 lakh and covers the cost of consumable items like PPE kits, masks, gloves, etc.

Corona Rakshak Policy Premium Chart

The premium for Corona Rakshak policy may vary from one insure to another, however the features of the policy are standard across the industry. Check out the policy premium chart table as given below:

Estimated Corona Rakshak Policy Premium
Policy Term- 3.5 monthsPolicy Term- 6.5 monthsPolicy Term- 9.5 months
Sum Insured ( Rs)Estimated Premium ( Rs)Sum Insured ( Rs)Estimated Premium ( Rs)Sum Insured ( Rs)Estimated Premium ( Rs)
50,000700 onwards50,000900 onwards50,0001,000 onwards
1 Lakh1500 onwards1 Lakh1800 onwards1 Lakh2,000 onwards
1.5 Lakh2300 onwards1.5 Lakh2700 onwards1.5 Lakh3,100 onwards
2 Lakh3000 onwards2 Lakh3600 onwards2 Lakh4,100 onwards
2.5 Lakh3800 Onwards2.5 Lakh4600 onwards2.5 Lakh5,100 onwards

(The above table is for reference purpose only, please check policy wordings for premium before making the purchase)

Features of Corona Rakshak Policy

Corona Rakshak health insurance is designed with a specific set of features to ensure that everyone can buy this policy in a hassle-free manner. The features and coverage benefits under Corona Rakshak policy shall remain the same across all the insurers. Some of the unique features of this policy are given below:

  • The coverage amount ranges from Rs. 50,000 to Rs 2.5 Lakh ( in the multiples of Rs 50,000)
  • 100% sum insured is paid in Lump-sum on a positive diagnosis of COVID by a Government-authorized Centre
  • Pre-medical screening is not mandatory before purchasing this policy
  • There is a short waiting period of 15 days only
  • The coverage is provided on an individual basis
  • Premium paid is eligible for tax exemption under Section 80D
  • Corona Rakshak health plan does not have any deductibles

Corona Rakshak Policy Premium Comparison Chart

Corona Rakshak is being offered by all General & Standalone health insurance companies in India. Below is the mentioned Corona Rakshak Premium Chart:

Corona Rakshak Health InsurersCoverage TypeProduct TypePaymentSum Insured (in Rs)Age Criteria ( in year)Premium (Rs)
Aditya Birla Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Bajaj Allianz Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 157-Rs 4273
Bharti AXA Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Chola MS Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Digit Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 700- Rs 1500
Edelweiss Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 102- Rs 1338
Future Generali Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 244-Rs 2189
IFFCO Tokio Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 157 -Rs 4273
Kotak Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Liberty Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Niva Bupa (Formerly known as Max Bupa) Corona Rakshak PolicyN/AN/AN/AN/AN/AN/A
Manipal Cigna Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 412- Rs 6529
New India Assurance Corona Rakshak PolicyN/AN/AN/AN/AN/AN/A
Oriental Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Raheja QBE Corona Rakshak PolicyN/AN/AN/AN/AN/AN/A
Reliance Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A
Star Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 769- Rs  5192
SBI Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsRs 445- Rs 7102
Tata AIG Corona Rakshak PolicyN/AN/AN/AN/AN/AN/A
United India Corona Rakshak PolicyN/AN/AN/AN/AN/AN/A
Universal Sompo Corona Rakshak PolicyIndividualBenefit BasedLumpsumRs 50,000- Rs 2.5 lakh18-65 yearsN/A

(Disclaimer-Policybazaar does not endorse any product or insurer)

Note- The premium varies based on the sum insured and the number of member insured)

Benefits of Corona Rakshak Policy

Corona Rakshak health insurance plan comes loaded with COVID-19 specific coverage benefits. Below are some of the unique benefits that the insured can avail with this policy:

  • COVID Coverage- One of the major benefits is that is it saves your from exorbitant hospitalization bills that are a matter of concern for many COVID-19 affected patients
  • 100% Payout- The policyholder receives a 100% lump-sum payout upon a positive diagnosis of Coronavirus
  • Eligibility Criteria– Individuals between the age group of 18 years and 65 years can buy this policy
  • Lump sum Payment– One of the major benefits is that the insurer pays a lump-sum amount irrespective of the actual hospitalization expenses incurred on the COVID-19 treatment
  • Standard Coverage Benefits– The policy benefits are standard throughout all the insurers
  • Waiting Period– Only 15 days
  • Policy Tenure– Flexible policy term of 3.5 months, 6.5 months and 9.5 months

Inclusions of Corona Rakshak Policy

Inclusions of Corona Rakshak Policy are specific to Coronavirus treatment. Once the policyholder is diagnosed as COVID-19 positive from a government registered diagnostic Centre, he/she will get a lump sum payment during the policy term from the health insurance company. Check-out below the inclusions offered under the Corona Rakshak policy:

  • Sum Insured : Rs 50,000, Rs.1 Lakh, Rs 1.5 Lakh, Rs 2 Lakh and Rs 2.5 Lakh
  • Hospitalization Expenses : The policy covers nursing charges, boarding charges, room rent, cost of masks, PPE kit, oxygen, gloves, ventilator charges, and diagnostic tests are covered this indemnity based plan
  • ICU Cover : The policy coverage amount also includes the cost of ICU/ICCU
  • Ambulance Cover : Road ambulance charges are also compensated up to a limit of Rs 2,000
  • Home Treatment Cover : If the patient required home care treatment of up to 14 days then the insurer will pay for same.
  • AYUSH Cover : The plan also covers AYUSH treatment prescribed for COVID-19
  • Pre and Post Hospitalization Cover : The policy also covers medical expenses incurred before 15 days of hospitalization and post 30 days of getting discharged, including diagnostic charges. Corona Rakshak policy also includes an optional cover benefit, under which the insured person can get 0.5% of the sum insured on a daily basis for a maximum of 15 days of hospitalization.

Exclusions of Corona Rakshak Policy

There are certain exclusions that apply to claims filed under Corona Rakshak PolicyThe insurer is not liable to pay under the following circumstances:

  • Claims filed based on diagnostic reports from unauthorized testing Centres
  • Diagnostic tests or treatment taken overseas
  • Renewals and migration is not possible in this policy
  • Travel history traced to any of the restricted countries
  • Any diagnosis that is not related to COVID-19

Why Should You Buy Corona Rakshak Policy?

It is imperative to buy Corona Rakshak Policy as there is no specific vaccine or treatment available for COVID-19 yet. Coronavirus infected patients are been treated in hospitals and the treatment expense are quite high. And if you have a comprehensive health insurance policy you can save yourself from the unforeseen financial burden.

If you do not have health insurance cover you can buy a Corona Rakshak Policy that will cover the treatment costs for this deadly virus. The insurance benefits start soon after the diagnosis once a waiting period of 15 days is completed. And if you get hospitalized for a minimum 72 hours or more the insurance will pay you in a lump sum and you can use that money to meet the hospitalization cost.

Corona Rakshak Policy Cancellation

The insurer may cancel Corona Rakshak policy in case of any misrepresentation, fraudulent act by the insured person, non-disclosure of information, by giving a 7days notice. And if there is any misrepresentation of the information then the premium is not refunded by the health insurance provider.

FAQs

Can I buy a health insurance policy for COVID-19 treatment in India?

Yes, you can buy coronavirus specific health plans namely, Corona Kavach and Corona Rakshak policy. All the health insurance providers are offering this policy as per the IRDAI guidelines. Corona Rakshak is a benefit based plan and Corona Kavach is an indemnity plan.

Does Corona Rakshak health insurance plan cover Ayush treatment expenses?

Yes, the policy covers Ayush treatment expenses up to the sum insured limit without any sub-limits.

How to file a claim with Corona Rakshak policy if I am detected with Coronavirus?

You can proceed with the claim if you test positive with COVID-19 at any of the government authorized diagnostic Centre. Once you receive the report you can inform the insurer and can proceed with the claim.

Can I buy Corona Rakshak health insurance policy online?

Yes, you can buy Corona Rakshak health insurance policy online from Policybazaar. You can select the policy from any of the insurance providers as per your preference, make the payment and receive the policy over e-mail.

Is there any waiting period applicable to Corona Rakshak Policy?

Yes, this policy comes with a waiting period of 15 days and you can only file a claim after completion of 15 days.

For how many days can I avail home care treatment under Corona Rakshak health insurance plans?

The insurer will cover home care treatment expenses for 14 days under the Corona Rakshak insurance policy.

Are comorbid diseases covered by Corona Rakshak health insurance policy?

Yes, Corona Rakshak health insurance policy covers comorbidities and pre-existing comorbidities.

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