What is the Corona Rakshak Policy?
The Corona Rakshak Policy is a lumpsum benefit policy that covers you for potential medical expenses if you or a family member are infected and hospitalized due to the coronavirus. What makes this COVID insurance cover different is that, it provides the complete sum insured as a lumpsum in case of a claim, instead of going for a reimbursement or cashless treatment.
Features of the Corona Rakshak Policy
What’s covered under the Corona Rakshak?
What’s not covered under the Corona Rakshak?
Corona Rakshak Policy Premium Calculator
Based on the kind of plan you opt for, here is a summary of what your premium for a corona rakshak plan may look like:
| Sum Insured | Premium (Term- 3.5 months) | Premium (Term- 6.5 months) | Premium (Term- 9.5 months) |
| ₹50,000 | ₹700 onwards | ₹900 onwards | ₹1,000 onwards |
| ₹1 Lakh | ₹1500 onwards | ₹1800 onwards | ₹2,000 onwards |
| ₹1.5 Lakh | ₹2300 onwards | ₹2700 onwards | ₹3,100 onwards |
| ₹2 Lakh | ₹3000 onwards | ₹3600 onwards | ₹4,100 onwards |
| ₹2.5 Lakh | ₹3800 onwards | ₹4600 onwards | ₹5,100 onwards |
Advantages & Disadvantages of the Corona Rakshak Health Insurance
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Advantages |
Disadvantages |
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One-time premium payment: Since the corona rakshak is a short-term cover, you only have to pay the premium once at the time of purchase. |
Short-term cover only: One of the main disadvantages of the corona rakshak is that, it is valid for a short period of time only, from 3.5 months to 9.5 months after which the policy expires. |
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Lumpsum amount: Instead of having to reimburse bills, what’s great about the corona rakshak is that you receive the entire sum insured at the time of claims, as a lumpsum. |
Limited sum insured: Since this is a health insurance only specific to coronavirus related treatment, the sum insured is limited to a maximum of Rs 2.5 lakhs only. |
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Affordable Premium: Since the corona rakshak is a short-term cover only, the premium for it is a lot more affordable than standard health insurance policies. |
Limited benefits: Apart from covering for the COVID, there are no other benefits of the corona rakshak policy. |
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Well suited for those with a corporate health insurance: If you’re someone who already has a corporate health insurance and are hence only looking for a coronavirus specific cover, this makes for a suitable cover. |
Not very useful if you already have a health insurance: If you already have a good health insurance policy, then coronavirus treatments would already be covered under your policy and getting an additional covid—specific policy may not be that helpful. |
Difference between Corona Kavach and Corona Rakshak
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Corona Kavach |
Corona Rakshak |
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Policy type |
Corona Kavach is a covid-indemnity plan that helps one get their hospital bills covered when they’re being treated for the covid-19. |
Corona Rakshak is a covid-benefit policy. Here, a lumpsum benefit is offered instead of getting specific hospital bills covered, i.e. the insured receives the entire sum insured if they are to be treated for the virus. |
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Sum Insured |
Choose between minimum Rs 50,000 and maximum, Rs 5 lakhs. |
Choose between minimum Rs 50,000 to maximum, Rs 2.5 lakhs. |
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Hospitalization terms |
One can claim through their Corona Kavach cover if they need hospitalization for more than 24-hours. |
One can only claim through their Corona Rakshak and receive the lumpsum if the hospitalization required exceeds 72-hours. |
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Type of plans available |
In Corona Kavach, one can choose between a family floater and individual plan. |
In a Corona Rakshak cover, you can only opt for an individual plan, there is no option for a family floater. |
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Additional benefits |
In a Corona Kavach policy, you can also opt for a daily hospital cash cover wherein you can receive 0.5% of your sum insured for each day of hospitalization. |
There are no additional benefits or covers available in a Corona Rakshak policy. |
Difference between Corona Rakshak and a Standard Health Insurance
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Corona Rakshak |
Standard Health Insurance |
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The corona rakshak is a pocket size insurance policy that provides a lumpsum benefit to cover for costs only for treatment pertaining to the COVID-19. |
A health insurance that covers coronavirus means your health insurance policy will also cover for coronavirus among other illnesses and diseases. You don’t have to buy a separate cover or policy for a separate disease. It is all inclusive in your health insurance. |
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The Corona Rakshak is a short-term policy and the policy is no longer valid after a claim, or after the duration of 3.5 to 9.5 months (based on plan chosen). |
A health insurance is a long-term policy (you can choose from 1 year to multi-year plans) and you can claim as many times in a year, as long as your total claims don’t go above your total sum insured. |
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Apart from covering for coronavirus, there are no other additional benefits of a coronavirus insurance. |
Apart from covering for coronavirus, a standard health insurance policy also comes with other benefits such as maternity and newborn baby cover, OPD, Daycare Procedures and more. |
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You can’t use a single cover for tax savings. |
Under section 80D, a health insurance is eligible for tax savings to up to 25,000 |
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The premium for a coronavirus insurance may be lesser since it is a specific cover to one disease only. The premium here depends on your age, duration of plan and sum insured chosen. |
The premium for a standard health insurance is comparatively higher than the Corona Rakshak. The premium largely depends on your age, location, add-on covers opted for, plan, and sum insured chosen. |
Health insurance Options for COVID-19
Health Insurance covering COVID-19
Today, most standard health insurance policies cover for coronavirus, despite it being a pandemic. If you’ve already got a health insurance, confirm and check with your insurer if the COVID-19 is covered or not.
If you haven’t got any health insurance yet then maybe this is the right time to evaluate your options and decide to get one to cover not only for the COVID-19 but, also for all your other healthcare needs in the long-term.
Know more about
Corona Kavach Health Insurance
The Corona Kavach is a pocket-size, indemnity cover that helps one cover for medical expenses and treatment of the COVID-19. It’s a short-term cover.
Group Health Insurance – Coronavirus Cover
Given the situation today, it is recommended that all organizations big and small provide a group health insurance for their employees.
However, we understand that some small business may not be able to afford comprehensive health plans, they can instead opt for a group coronavirus cover to cover their employees against the coronavirus.
Learn more about:
FAQs about the Corona Kavach Policy in India
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