Sell Short-Term COVID-19 Plans Till March 2022: IRDAI to Health Insurers

The Insurance Regulatory & Development Authority of India (IRDAI) has extended the sale of short-term COVID-19 insurance plans by health insurance companies until March 2022. The insurance regulator also permitted general insurers to continue issuing policies electronically until March-end next year.

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*
  • 50,000 claims approved in last 15 months*
  • Schedule home visit with our advisors
  • Get a plan based on your medical needs

*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

Back
All health plans cover Covid-19 treatment
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    Continue
    By clicking on “Continue”, you agree to our Privacy Policy and Terms of use
    Previous step
    Continue

      Popular Cities

      Previous step
      Continue
      Previous step
      Continue

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      What is your existing illness?

      Select all that apply

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step
      Advantages of
      entering a valid number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      Short-Term COVID-19 Insurance Plans Available Till March 2022

      The IRDAI on Monday has permitted the sale of short-term COVID-19 insurance plans - Corona Kavach policy and Corona Rakshak policy - until 31st March 2022. It also allowed health insurance companies in India to renew existing COVID-19 policies till March next year. These plans come with an existing policy term of 3.5 months, 6.5 months and 9.5 months.

      The Corona Kavach policy and the Corona Rakshak policy are standard coronavirus insurance plans introduced by health insurance companies in July 2020 as per the direction of IRDAI. Since the coronavirus can lead to major health complications, its treatment became increasingly expensive for critical patients. The coronavirus insurance plans were designed to help people combat the high medical expenses incurred on the treatment of COVID-19.

      While the Corona Kavach policy is an indemnity-based health insurance policy, the Corona Rakshak policy is a benefit-based policy offering coverage for the treatment cost of COVID-19. However, the premium of these policies is lower than the premiums of regular health insurance plans because of the shorter policy tenure. As a result, these plans have become extremely popular amongst the people.

      Extension of Electronic Policy Issuance

      In another circular, the IRDAI has also extended its relaxation on issuing electronic policies by general insurance companies instead of a physical policy document with a wet signature until 31st March 2022. The need for physical policy documents with wet signatures was replaced with electronically issued policies in 2020 amidst the growing concerns regarding the spread of COVID-19 last year.

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

      Health insurance articles

      Recent Articles
      Popular Articles
      Should You Buy a Super Top-up Health Insurance Policy?

      18 Jan 2023

      India is abuzz with a variety of health insurance plans to cater
      Read more
      6 Reasons Why Your Cashless Health Claims Can Get Denied

      18 Jan 2023

      Cashless claims are one of the most lucrative benefits of buying a
      Read more
      Check Out the Mandatory KYC Documents for Health Insurance

      30 Dec 2022

      The Insurance Regulatory & Development Authority of India
      Read more
      What to Look for in a Health Insurance for Cancer Plan?

      20 Dec 2022

      Cancer is one of the biggest demons that the world faces today
      Read more
      What are the Factors Affecting Health Insurance Premium?

      20 Dec 2022

      Demand for insurance products in India, especially health
      Read more
      What are the Normal Thyroid Stimulating Hormone (TSH) Levels as Per Age?
      The thyroid gland is an important gland responsible to produce the right amount of hormones for normal body
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal
      Read more
      Income Tax Slab for Women: Guide to Exemptions and Rebates
      In India, every person who earns beyond a certain limit is liable to pay income tax to the government. The tax
      Read more
      Best Health Insurance Plans for Senior Citizens in 2023
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      How Senior Citizens can save Tax with Medical Bills u/s 80 D?
      Senior citizens can save on income tax by availing tax benefits on medical expenses under Section 80D of the Income
      Read more

      top
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL