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Corona Rakshak Policy

Corona Rakshak Policy is a standard benefit-based health policy that has been recently launched as per the guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI). Both General Insurance Companies and Standalone Health insurance providers have been encouraged to offer Corona Rakshak health insurance policy in India.

Taking into consideration the increasing number of COVID-19 cases in India, and sky-rocketing hospital bills, this specific policy has been designed to cater to the COVID-19 treatment requirements.

What is Corona Rakshak Policy?

Corona Rakshak Policy is a single-premium health insurance plan that will pay 100% of the sum insured as lump-sum to the policyholder ones being tested COVID-19 positive that requires hospitalization of 72 hours or more. Currently, some of the health insurance companies do not cover the cost incurred on personal protective equipment (PPEs), masks, and other hygiene-related consumables, which add to the hospital bills.

While the Corona Kavach Policy will compensate for the cost of masks, PPEs, gloves, and other similar expenses. However, the policy will cease to exist once the insurer makes the lump sum claim payment.

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 months Policy Term- 6.5 months Policy Term- 9.5 months
Sum Insured ( Rs) Estimated Premium ( Rs) Sum Insured ( Rs) Estimated Premium ( Rs) Sum Insured ( Rs) Estimated Premium ( Rs)
50,000 700 onwards 50,000 900 onwards 50,000 1,000 onwards
1 Lakh 1500 onwards 1 Lakh 1800 onwards 1 Lakh 2,000 onwards
1.5 Lakh 2300 onwards 1.5 Lakh 2700 onwards 1.5 Lakh 3,100 onwards
2 Lakh 3000 onwards 2 Lakh 3600 onwards 2 Lakh 4,100 onwards
2.5 Lakh 3800 Onwards 2.5 Lakh 4600 onwards 2.5 Lakh 5,100 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

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 Policy. The 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.



  • Discount on premium in Corona Kavach Health Insurance Policy to Healthcare Workers

    As mandated by the Insurance Regulatory and Development Authority of India (IRDAI), all the 30 health insurance providers and general insurance providers have started offering Corona Kavach policy, which is an indemnity Standard Health Insurance Policy.

    To acknowledge the contribution of the healthcare sector in the fight against the Covid-19 pandemic, the insurers will offer a 5% discount on ‘Corona Kavach’ policy premium to all the healthcare workers including doctors, and nurses, as per the recent guidelines issued by the Regulator. All the eligible individuals can avail of the discount at the time of policy purchase. Read more about Corona Rakshak policy here.

Written By: PolicyBazaar - Updated: 14 April 2021
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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