Anuradha Singh

July 20, 2020

Corona Rakshak Policy – Get paid when you catch Covid-19

Health 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.

Corona Rakshak Policy review

Features of Corona Rakshak Policy

  1. This policy can be purchased only on an individual basis.
  2. Sum Insured options in this policy range between Rs 50,000 to Rs 2,50,000.
  3. There is no pre-medical screening necessary for this policy.
  4. This policy has a waiting period of 15 days.
  5. Adults aged between 18 yrs. to 65 yrs. can take this policy.
  6. Tax benefit on premium paid u/s 80D of Income Tax Act,1960.
  7. The policy cannot be renewed nor it has a free look period.
  8. Its a single premium policy and the tenure have 3 options of 3.5 months (105 days), 6.5 months ( 195 days), and 9.5 months (285 days).

Benefits under this Policy

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.

Where can I purchase this Policy from?

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.

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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  • Acko General Insurance Ltd.
  • Aditya Birla Health Insurance Co. Ltd.
  • Bajaj Allianz General Insurance Co Ltd
  • Bharti AXA General Insurance Co. Ltd.
  • Cholamandalam MS General Insurance Co. Ltd.
  • Edelweiss General Insurance Co. Ltd.
  • Future Generali India Insurance Co. Ltd.
  • Go Digit General Insurance Ltd
  • HDFC ERGO General Insurance Co.Ltd.
  • HDFC ERGO Health Insurance Limited
  • ICICI Lombard General Insurance Company Ltd
  • IFFCO TOKIO General Insurance Co. Ltd.
  • Kotak Mahindra General Insurance Co. Ltd.
  • Liberty General Insurance Ltd.
  • Magma HDI General Insurance Co. Ltd.
  • Manipal Cigna Health Insurance Company Limited
  • Max Bupa Health Insurance Co. Ltd
  • Navi General Insurance Ltd.
  • National Insurance Co. Ltd.
  • Raheja QBE General Insurance Co. Ltd.
  • Universal Sompo General Insurance Co. Ltd.
  • Reliance General Insurance Co.Ltd
  • Religare Health Insurance Co. Ltd
  • Royal Sundaram General Insurance Co. Ltd.
  • SBI General Insurance Co. Ltd.
  • Star Health & Allied Insurance Co.Ltd.
  • Tata AIG General Insurance Co. Ltd.
  • The New India Assurance Co. Ltd
  • Oriental Insurance Co. Ltd.
  • United India Insurance Co. Ltd.


Premium For Corona Rakshak Policy

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 –

Corona Rakshak Policy premium detaiIs of IFFCO TOKIO General Insurance

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.

Star Health & Allied Insurance Co.Ltd., premium details of corona rakshak policy

Exclusion under this policy

  • If there are any diagnostic expenses made which are not related to COVID, then those expenses will not be covered in this policy.
  • If a person is tested COVID +ve before the start of the policy, then this person cannot file a claim to the company.
  • If a person is getting testing done related to COVID in diagnostic centers that are not authorized by the government then the expenses incurred will not be covered under this policy.
  • If the insured person travels to any country placed under travel restriction by the government of India the insured person will not get the benefit under this policy if the insured person tests +ve for COVID-19.

Should you take up this 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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3 years ago

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.?

Reply to  Shivu
3 years ago

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 !

Vaibhav Potdar
Vaibhav Potdar
Reply to  Jagoinvestor
3 years ago

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

Reply to  Vaibhav Potdar
3 years ago

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


Tushar Chauhan
Tushar Chauhan
3 years ago

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.

Reply to  Tushar Chauhan
3 years ago


3 years ago

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?

3 years ago

Empanel with the companies to be their agent ..

3 years ago

Will other health policy give benefit… like I have family floater from star health for 5 lakh along with top up of 20 lakh

Reply to  Amit
3 years ago

Yes, a regular health insurance plan will also cover many expenses, but some things like PPE kits and few more things are not covered !

Hinesh shah
Hinesh shah
3 years ago

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

Reply to  Hinesh shah
3 years ago

Different policies for different requirement.