Difference Between Corona Kavach & Corona Rakshak

Many health and General insurance companies in our country are offering these two COVID insurance products i.e. Corona Rakshak and Corona Kavach health plans. These two are standard COVID-19 specific health insurance products based on the guidelines issued by the Insurance Regulatory and Development Authority of India (IRDAI).

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Get Health Insurance that Covers CoronaVirus and Everything else
@ ₹200/month*
Consumables are covered like PPE kits, gloves, masks, etc.
Single private room permitted for hospitalization
Treatment at home is covered on a positive diagnosis of COVID-19

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply

No physical medical required Covid-19 treatment covered
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    Some plans are available only after a certain time

    The health insurance schemes cover the treatment cost of the coronavirus disease. These were launched as short-term policies last year and were valid till March, 2021. However, looking at the increasing number of coronavirus cases in India, the Insurance Regulator has further extended these health plans till September 30.



    At present, the two products can be purchased for a tenure of 3.5 months, 6.5 months, and 9.5 months including a waiting period of 15 days.

    Let’s read on to know how Corona Rakshak and Corona Kavach policies are different from each other.

    Here is the table with the difference between Corona Kavach and Corona Rakshak policies:

    Features

    Corona Kavach Policy

    Corona Rakshak Policy

    Sum Insured

    Rs 50,000-Rs 2.5 Lakh

    Rs 50,000-Rs 5 Lakh

    Coverage

    Floater

    Individual

    Hospitalization hours

    24 hours

    72 hours

    Type of Cover

    Indemnity Based

    Benefit Based

    Payment

    As per hospitalization expenses

    Paid in lumpsum upon diagnosis

    Premium

    Single Premium Payment

    Tenure

    3.5 months, 6.5 months, & 9.5 months

    Entry Age

    18-65 years, Children- 25 years

    Pre-existing Diseases

    Pre-existing/Co-morbidities are covered

    Deductibles

    N/A

    Waiting Period

    15 days

    Optional Cover

    Daily Hospital Cash Cover

    N/A

    Difference in Premium

    The below table gives you an idea of the difference in the premium between Corona Kavach and Corona Rakshak policies:

    Corona Kavach Health Premiums for 30-year-old with SI of Rs 2.5 Lakh

    Insurer

    3.5 months

    6.5 months

    9.5 months

    Bajaj Allianz Corona Kavach Plan

    615

    820

    1025

     

    Iffco Tokio Corona Kavach Plan

    766

    870

    1166

    Future Generali Corona Kavach Policy

    410

    517

    624

    New India Assurance Corona Kavach Policy

    863

    911

    959

    Max Bupa Corona Kavach Policy

    523

    697

    871

     

    Corona Rakshak Health Premiums for 30-year-old with SI of Rs 2.5 Lakh

    Insurer

    3.5 months

    6.5 months

    9.5 months

    Star Corona Rakshak Policy

    3846

    4615

    5192

    Future Generali Corona Rakshak Policy

    321

    416

    512

    Iffco Tokio Corona Rakshak Policy

    1028

    1795

     

    2406

    (Policybazaar does not endorse any insurer; the above premium table is for reference purposes only. Please refer to the policy wordings before policy purchase)

    Note* The premium can also vary based on the coverage type i.e. individual and family floater coverage

    Visit Corona Kavach and Corona Rakshak  pages on our website to check more plans and their premiums.

    Let’s check out more in detail:

    Minimum and maximum Sum Insured- You can choose a minimum sum insured of Rs 50,000 in Corona Kavach Policy and it goes maximum up to Rs 5 lakh. While for the Corona Rakshak Policy, the sum insured limit is minimum of Rs 50,000 and can go up to a maximum of Rs 2.5 lakh. 

    Hospitalization Expenses- In the Corona Kavach Policy, a minimum period of 24 hours of hospitalization is required to avail of the benefits. The hospital expenses up to coverage amount will be paid by the insurer irrespective of the number of days in the hospital. But, if you have Corona Rakshak Policy, you need to be hospitalized for at least 72 hours.

    Nature of policies- The Corona Kavach Policy offers basic mandatory cover and also Optional Cover. The base cover benefits are provided on an Indemnity basis whereas Optional Cover is only available on Benefit Basis. Indemnity means the claim is paid as per the hospital bills whereas, in a Benefit cover, you get the entire sum insured in Lumpsum by the insurer.

    Corona Kavach is an indemnity-based plan that reimburses for COVID hospitalization expenses. While Corona Rakshak is a benefit plan that gives a fixed Lumpsum amount on a positive COVID diagnosis that requires minimum of 3 days of hospitalization, regardless of the medical expenses incurred.

    Optional benefit

    Corona Kavach policy provides an additional Daily Hospital Daily Cash cover. The insurance company pays you 0.5% of the sum insured daily on 24 hours of permissible continuous hospitalization. This is valid for a maximum of 15 days during the policy term.

    On the other hand, the Corona Rakshak policy is a benefit-based plan with no such feature.

    Why do you need Corona Kavach and Corona Rakshak Health plans?

    These two health insurance plans have been designed to offer standard coverage benefits across the industry at a nominal premium. 

    Corona Kavach Policy- According to the IRDAI guidelines for the Corona Kavach Policy, the sum insured will range from Rs 50,000 to Rs 5 lakh.

    Corona Kavach is an indemnity-based health plan that offers coverage on an individual and family floater basis. It covers the cost of room rent, ICU charges, medicines, PPE kits, doctor fees, ambulance charges, etc. you can avail of the treatment without worrying about the expenses.

    People between the age group of 18 and 65 years can buy this plan. Parents can get their children between the age group of 1 day and 25 years. 

    Corona Rakshak Policy- This policy provides a 100% payout in a lump sum upon positive diagnosis. It also covers the cost of PPE kits, gloves, and masks, which is a major advantage. The policy requires a minimum of 72 hours of hospitalization to file a claim.

    Both of them are standard products with the same features and benefits across the industry but both of them come with a different set of coverage benefits.

    Know the Difference between Corona Kavach and Corona Rakshak Policy

    But, before you buy them, here are some differences between the two COVID-specific plans.

    What to do?

    Both the Corona Kavach and Corona Rakshak policies cover co-morbidities arising during the Covid-19 treatment so it is better to have a policy with a higher sum insured and a higher policy term. Do not buy these policies as a substitute for your regular medical insurance plan or comprehensive health cover.

     If you do not have insurance you can avail of COVID-19 treatment cover with these policies at an affordable premium. And buy any of the Corona kavach and Corona Rakshak policies as a supplementary to the existing policy.


    Takeaway

    With COVID-19 cases at their peak, it makes sense to invest in Corona Rakshak policy or Corona Kavach policy as per your preference. You can buy any of these products online from Policybazaar and save your time and money.

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    Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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