Star Health Corona Rakshak Policy: Benefits, Premium, Renewal

Star Health Corona Rakshak Policy

Star Health and Allied Insurance Co. Ltd. offers fixed benefit Corona Rakshak Policy with many shield options to cover the expenses of COVID-19 treatment. The lump-sum payout of the sum insured under Star Corona Rakshak Policy helps the insured to access quality healthcare. The policy comes with attractive benefits such as no TPA involvement, exclusive coverage for Coronavirus, sum insured up to Rs 2.5 lakh etc.

Type of Coverage	Individual basis
Policy Tenure	105 days, 195 days, 285 days
Sum Insured Options	Rs 50,000-Rs 2.5 lakh
Pre-policy Medical Screening	Not Applicable
Waiting Period	15 days

Coverage Offered

The policy coverage can be availed with multiple sum insured options ranging from Rs 50,000 to 2.5 lakh. The policy covers the expenses incurred for treating coronavirus including. The policy benefit is offered for one-time, after which the policy ceases.

Inclusions of the Plan

The Corona Rakshak Policy covers the insured exclusively for positive COVID-19 infection. The lump-sum payment is the right reassurance, where the insured has the flexibility to avail of the best healthcare to combat the menace. It practically acts as a supplementary coverage on top of the existing health insurance under which the insured is covered.

Exclusions of the Plan

The specific policy for COVID-19 infection confines the benefits exclusively to its treatment. The insured must consult the policy bond for clarity on the different restrictive clauses to ensure a seamless claim experience. Accordingly, only the significant are described below.

Waiting Period: The insured has to wait for 15 days for the cover to set in, permitting a claim.
Other Exclusions: Many other clauses restrict the claim submission under the Corona Rakshak Policy.
A claim with a positive diagnosis report dated before the policy inception or during the waiting period is not liable for payment.
The policy kicks in based on a positive diagnostic report from a Government Authorized Testing Center.
A positive Corona Virus diagnostic report from an unauthorized testing center is not accepted.
The insurer is not liable to pay for any expenses incurred for diagnostics and evaluation not related to COVID-19.
The cover in the policy ceases if the insurer travels abroad during the policy period.

Features & Benefits of the Star Corona Virus Policy

The factors that influence the buy Corona Rakshak Policy are the flexible options of the Sum Insured and multiple policy terms.

Policy Type: The plan is offered only on an individual basis.
Renewal: The policy does not offer any renewal facility to the insured.
Tax Benefit: The premium paid for the Corona Rakshak Policy Health Insurance in modes other than cash is tax-exempt under Section 80D of the Income Tax Act, 1961, subject to applicable limits.

Cancellation of the Policy

Only the insurer is empowered to cancel the Corona Rakshak Policy by serving a written notice of 7 days on the grounds of misrepresentation, fraud, moral hazards, and non-cooperation. The insurer is not liable to refund the premium for cancellation on grounds other than non-cooperation.

FAQs

Q. Under which circumstances does the Corona Rakshak Policy automatically terminate?
Ans: The policy can terminate in any of the three situations described below:
- Upon the demise of the insured during the policy period
- Upon payment of the lump-sum benefit on diagnosis of positive Corona Virus infection, and:
- Upon the expiry of the policy term
Q. What is the claim settlement mechanism applicable to the Corona Rakshak Policy?

Ans: The insurer does not employ any TPA to handle the claim settlement process but pays it directly to ensure speedy resolution of a claim. The Corona Rakshak Policy's claim documents must be submitted to the insurer within 30 days from the hospital discharge. The important point to remember is that, apart from the COVID-19 related medical reports and documents, the insured must also submit bank details from claim settlement through electronic means
Q. Does the Corona Rakshak Policy need pre-acceptance medical screening?

Ans: No, to buy Star Corona Rakshak Policy, no pre-acceptance medical screening is called for.
Q. What factors are employed to determine the Star Health Insurance premium?

Ans: The policy offers a fixed premium determined by a combination of the sum insured and policy terms selected by the insured.
Q. Is the option for Online Corona Rakshak Policy purchase open to the applicant?

Ans: Yes, the policy can be purchased at the insurer portal in a few simple steps.