POSTED BY July 20, 2020 COMMENTS (12)
ONHealth Insurance companies have recently launched one more corona specific health insurance policy called as Corona Rakshak Policy” as per the IRDAI guidelines.
This is a benefit based health insurance plan which pays you a lump sum amount when you are diagnosed of covid-19 and are hospitalized for continuous 72 hrs.
If the insured person is diagnosed with COVID +ve and is hospitalized of minimum 72 hours then the corona rakshak policy will pay the full 100% sum assured to the policyholder. Note that it’s not going to settle your bills, but make a single payment no matter what are your expenses.
To get the claim, you have to give the diagnosis report of Covid-19 from an authorized govt center and the proof of hospitalization for at least 72 hrs.
While IRDAI has directed all companies to launch this plan, in reality its quite complicated to find out where to buy this plan. It was reported on social media from many investors that they are not able to get the online links to buy. But few also shared that they were able to buy it from the offline agents.
#IRDAI, please instruct insurance companies to sell Corona Kavach and Corona rakshak policies online! At a time when social distancing is the key to fighting COVID19, there is no clear way to buy these policies online!
— RAHUL (@trueIndiafan) July 16, 2020
So right now it’s a bit complicated to buy this plan.
Ideally following insurance companies should come up with their online links for this policy, as soon as possible.
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Here is the indicative premium chart we managed to find online.. but note that these are still indicate premiums and you will get the real numbers while you purchase the policy.
a) IFFCO TOKIO General Insurance Co. Ltd –
b) Star Health & Allied Insurance Co.Ltd. –
The below image shows the premium details of the “Corona Rakshak Policy” with all 3 tenures of the policy.
If you are too scared about the expenses which might occur if you get covid+, then you can surely go ahead and take up this policy as the premiums are not very big amount and anyone can manage it.
However do note that this policy will only pay if the hospitalization is there for 72+ hrs. You know that most of the people who are getting corona do not require hospitalization, which means that the chances you getting corona along with hospitalization is quite low.
Also this is going to only give you Rs 2.5 lacs, however the expenses can be quite high if you get hospitalized for a 15-20 days in a good hospital. So treat this policy as just a small support system and not the replacement of the health insurance policy in itself.
This was all that I wanted to share in this article. Let me if you have any queries in the comments section.
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1. Can I get two or three corona Rakshak policies to increase the sum assurance. ?
2. I’m I eligible to claim if I get admitted in Govt hospital.?
1. No I dont think so ..
2. Yes, even in private !… But only if you meet all the criteria .. like you need to be hospitalized for minimum 3 days !
Is there any exception, suppose if someone found positive and advised to be in home quarantine or isolation because of unavailability of beds in hospital. Or still unless you hospitalized for 72 hrs you will not get benefitted though you are diagnosed of corona
If doctor gives in writing that medication is required and the line of treatment is there for each day , then its admissible
But simply being at home on some medicines will not be eligible for claim
Manish
Such a great article.
Really appreciable. i read your article and i found this so informative and useful. I think this article is helpful not only for me infact for all those who have doubt that how to purchase a best corona plan. i really like the way you explain features and benefits of Corona plan.
Thanks for such a informative article. keep updating this type of articles.
Welcome
how to be an agent to help reach to the general public those who are not aware of these type of citizens support benefial scheme?
Empanel with the companies to be their agent ..
Will other health policy give benefit… like I have family floater from star health for 5 lakh along with top up of 20 lakh
Yes, a regular health insurance plan will also cover many expenses, but some things like PPE kits and few more things are not covered !
Corona KAVACH policy is better then the Corona Rakshak policy. Kavach policy requires only 24 hrs of hospitalization. You can even get reimbursement for Home treatment. Future generali has an online option. Regards
Different policies for different requirement.