Articles 235 views September 12, 2020

Corona Rakshak Policy: Benefits, Features and Exclusions

As we can see that the COVID-19 cases are increasing day by day so it is really necessary to be financially prepared to fight this disease. Therefore IRDA has launched a common policy known as the Corona Rakshak Policy and it has to be sold by all the leading insurance companies of India. Corona Raksha plan is basically an individual health plan that can help you to fight COVID-19 disease. The coverage of this plan starts from the day when you are tested positive for the COVID-19 test. But there is a waiting period of 15 days in this health insurance plan. You can see the features and other details of this plan if you are planning to buy it.

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Key Features of Corona Rakshak Policy

  1. It is an individual health insurance plan.
  2. Flexibility of choosing the Sum Assured at the time of inception of the policy.
  3. Flexibility of choosing the policy term as per your needs.
  4. There is a waiting period of 15 days in this health plan.
  5. 18 Years is the minimum age of entry in this policy.
  6. 65 years is the maximum age of entry in this insurance plan.
  7. You will receive 100% of the Sum Assured once you are diagnosed with COVID-19 Disease.

Benefits of the Corona Rakshak Policy

You must explore the various benefit of this health plan and see how it can help you to fight the COVID-19 disease.

Receive 100% of the Sum Assured

The company assures you to pay 100% of the Sum Assured if you are tested positive for COVID-19 Disease. On the other hand, the company needs a hospitalization continuously for 72 hours in order to pass the claim.

Multiple Options to Choose the Sum Assured

This insurance plan has multiple options for choosing the Sum Assured. You can get a cover starting from Rs.50 Thousand to Rs.2.5 Lacs. The options available for the sum assured are Rs.50 Thousand, Rs.1 lac, Rs.1.5 Lacs, Rs.2 Lacs, and Rs.2.5 Lacs.

Various Policy Terms

You are free to choose the term of the policy as per the need for coverage. The options to decide the policy terms are for 105 Days, 195 Days, and 285 Days. There will be a waiting period of 15 days and it starts from the date of inception of the policy.

Exclusions of the Corona Rakshak Policy

  1. There is no cover for the treatment of a pre-existing disease.
  2. No Coverage will be given if the insured has travelled to a restricted country.
  3. There will be no reimbursement for the COVID-19 disease if it is diagnosed at an unauthorized testing center.
  4. If the treatment is taken outside India then there will be no coverage.
  5. If any family member with whom the insured is living has been detected with COVID-19 or is Quarantine or recommended Quarantine on or before the date of the proposal then there will be no reimbursement.

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