Articles 199 views September 12, 2020

Difference Between Corona Kavach Policy and Corona Rakshak Policy

The COVID-19 Pandemic has created a mess in the whole world. Every country is fighting for this disease. Therefore IRDA has taken a small initiative by offering Corona Kavach and Corona Rakshak Policies in India. You can protect yourself against the Coronavirus disease through these policies. But a lot of individuals are confused between the Corona Kavach Plan and Corona Rakshak Plan. Both of these plans are different from each other. But the common feature between these plans is that will give you coverage against the COVID-19 Disease. So, let’s explore the key differences between these plans, and after exploring the difference you can decide the best plan for yourself.

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Difference Between Corona Kavach Policy and Corona Rakshak Policy

Basis of DifferenceCorona Kavach PolicyCorona Rakshak Policy
CoverageYou can cover your family members as well under the same insurance plan because it is a family floater plan. An individual Plan option is also available in this policy.This plan is an individual insurance plan that only covers the risks of the insured and you can’t cover your family members.
AvailabilityThis plan is offered by all the health and general insurance companies. But Life Insurance Companies don’t offer this plan.The Corona Rakshak Policy is offered by all the insurance companies and you can buy it from any company.
Sum AssuredThe minimum sum assured in this insurance plan is Rs.50 Thousand and the Maximum Sum Assured is Rs.5 Lacs.The minimum sum assured in this insurance plan is Rs.50 Thousand and the Maximum Sum Assured is Rs.2.5 Lacs.
Hospitalization DurationThis plan needs a minimum hospitalization of 24 hours in order to pass the claim.This plan needs a minimum hospitalization of 72 hours in order to pass the claim.
ReimbursementYou will get a reimbursement for the hospital expenses only in the Corona Kavach Plan.You will get 100% of the Sum Assured as Reimbursement in the Corona Rakshak Policy.
CoverageThe company will only indemnify for medical expenses.You will get a fixed sum of money irrespective of the medical expenses.
Optional BenefitYou can add optional benefits as well in this plan like Hospital Daily Cash.There is no such optional benefit in this insurance plan.

Conclusion

Well, these are the major differences between Corona Kavach Policy and Corona Rakshak Policy. Now you can make a final choice between these plans after knowing the differences. On the other hand, the company will only provide you with all the benefits if you are diagnosed with COVID-19 positive from an authorized diagnostic centre. There is no coverage for the pre-existing disease in both these plans. The company will not make any reimbursement if you are tested positive for the COVID-19 disease during the waiting period. Usually, both these plans have a waiting period of 15 days and all the treatment has to be done in India. No risk will be covered if the treatment is done outside India.

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