A Complete Guide to Corona Rakshak Policy

Corona Rakshak Policy Guide - BimaBandhu

With the Covid-19 cases rising in India each day, more people are gradually realizing the importance of buying a suitable health insurance policy. A small health problem is now enough to cause significant stress about health and finances in our hearts. Keeping that in mind, the IRDAI directed all insurance companies in India to offer two short-term Covid specific health insurance policies, one of which is the Corona Rakshak Policy. 

In this guide, we will cover various aspects related to Corona Rakshak Policy.  

What is Corona Rakshak Policy? 

It is a standard-benefit based health insurance policy. Under this policy, you can get 100% of the chosen sum insured on being diagnosed with Covid-19 disease and require hospitalization of 72 hours or more. The payment of the insurance benefits will be done as a lumpsum amount. You can buy Corona Rakshak policy either online or offline through different insurers with a sum insured of up to Rs. 2.5 Lacs to get the best quality medical treatment. 

What are the Features of Corona Rakshak Policy? 

Corona Rakshak health insurance has been designed to offer standard features to every policyholder irrespective of the chosen insurance company. Given below is the list of salient features of this standard Covid insurance plan: 

  • Sum insured ranging from Rs. 50,000 to Rs. 2.5 Lakh (in multiple of 50,000) 
  • Lumpsum mode of payment of 100% sum insured on a positive diagnosis of Coronavirus infection in an authorized hospital 
  • No restrictions to use the amount on PPE kits, gloves, masks, and other consumable items 
  • Short tenure options of 3.5, 6.5, and 9.5 months 
  • Associated waiting period of fifteen days only 
  • Corona Rakshak policy premium starting from Rs. 700 
  • Minimum and maximum age kept at 18 and 65 years respectively 
  • No deductibles 
  • Tax deduction under Section 80D 

The IRDAI launched Corona Rakshak policy to ensure that people like you can have easy access to Covid insurance benefits under a standard policy and can get medical treatment without having financial worries. 

You May Like to Read: A Complete Guide to Coronavirus Health Insurance 

What is the Approximate Cost of Corona Rakshak Policy? 

Since different insurance companies are offering Corona Rakshak policy, the exact premium varies from one insurer to the other. Since the features of this policy are standard across India no matter from where you buy it, you can get an estimated cost of Corona Rakshak policy.  

Given below is the premium chart for Corona Rakshak policy for different policy periods: 

Sum Insured (in Rs.)   Minimum Premium for a policy term of 3.5 months  Minimum Premium for a policy term of 6.5 months  Minimum Premium for a policy term of 9.5 months 
0.5 Lakh  700  900  1000 
1 Lakh  1500  1800  2000 
1.5 Lakh  2300  2700  3100 
2 Lakh  3000  3600  4100 
2.5 Lakh  3800  4600  5100 

** The above chart is just to give you an idea of the Corona Rakshak policy premium. Please check the policy wordings for the exact premium while buying it. 

What are the Benefits of Corona Rakshak Policy? 

Corona Rakshak policy comes with several benefits specific to the treatment required for Covid-19 disease. These include:  

  • Covid insurance coverage in terms of positive diagnosis of Coronavirus 
  • 100% lumpsum payout which can be used for various medical expenses including hospitalization 
  • Standard insurance coverage irrespective of the chosen insurer 
  • Short waiting period that helps in getting maximum benefits of Corona Rakshak policy 
  • Flexible policy tenure 

What are the Primary Inclusions of Corona Rakshak Policy? 

Most of the inclusions of this policy are specific to the medical treatment required for Coronavirus infection. In case you (the insured) get diagnosed Coronavirus positive during the policy term, you will get a lumpsum payment from your insurer.  

Here are some of the primary Corona Rakshak policy inclusions: 

  • Hospitalization expense coverage, which includes nursing and boarding charges, room rent, oxygen, gloves, PPE kits, and medical tests 
  • ICU or ICCU coverage 
  • Road ambulance cover up to Rs. 2,000 
  • AYUSH treatment cover as prescribed for this disease 
  • Home care treatment cover for up to 14 days 
  • Pre- and post-hospitalization cover for medical expenses incurred before 15 days of getting hospitalized and till 30 days after getting discharged  
  • Optional daily cash benefit of 0.5% of sum insured for a maximum of fifteen days during hospitalization 

What are the Exclusions Related to Corona Rakshak Policy? 

Certain exclusion terms are applicable to the claims filed under Corona Rakshak policy, for which the insurer is not liable to provide the insurance benefits. The most common exclusions of Corona Rakshak policy are: 

  • Filing of claims based on reports from unauthorized diagnostic centres 
  • Overseas medical tests and treatment 
  • Travel history to any of the restricted regions/countries 
  • Diagnosis of health issues that are unrelated to Covid-19 disease 

** Corona Rakshak policy does not allow renewal or migration.  

What are the Facts Related to Corona Rakshak Policy Cancelation? 

In case of misrepresentation, fraud act, or non-disclosure of correct information by the insured individual, the insurer can cancel the Corona Rakshak policy with a notice of 7 days. Particularly for cases involving misrepresentation of information, the premium is non-refundable.  

Why Should You Buy Corona Rakshak Policy in 2021? 

Given the current situation of pandemic in the country, it has become imperative for everyone to buy Corona Rakshak policy. In the long run, it will help prevent the financial burden that may come up while getting Covid-19 treatment in a reputable hospital.  

If you do not have any health insurance policy, you should buy Corona Rakshak policy to cover the treatment cost for this disease. You will get the insurance benefits post the waiting period of 15 days on getting hospitalized for 72 hours or more. Alongside, it is advisable to take all the necessary precautions to avoid contracting the virus in the first place.  

How to Buy Corona Rakshak Health Insurance Policy Online? 

Most of the insurance companies have made it easier for policy buyers to purchase Corona Rakshak policy online. You can either buy it directly from an insurer or via renowned insurance aggregators. Given below are the common steps to buy Corona Rakshak policy: 

  • Search for the insurer of your choice who offers Corona Rakshak policy online. 
  • Visit their official website and go through the details of the policy, including features, benefits, any specific terms, etc. 
  • Use the online Corona Rakshak policy premium calculator to get an idea of the amount payable to buy this policy. 
  • Once you have gone through all the details and premium estimate, provide the required details and pay premium online to buy the policy. 

Why Should You Buy Corona Rakshak Policy Online? 

Online insurance purchase has made things much easier for individuals. Although you can visit any of the branch offices of your insurer to buy Corona Rakshak policy, it is advisable to buy it online and avail the following benefits: 

  • No rush towards the office hours as you can buy the policy anytime as per your convenience with the 24×7 online access. 
  • Ease to maintain social distancing and safety norms related to the pandemic  
  • Hassle-free online insurance purchase  

How to Choose Adequate Insurance Coverage under Corona Rakshak Health Insurance Plan? 

Buying a health insurance plan during the global pandemic may seem like an overwhelming task. While some people make the insurance buying decisions in rush, others do not opt for any health cover at all. Here are a few tips to help you out in selecting suitable coverage under Corona Rakshak policy: 

  • Select Adequate Sum Insured 

Make sure that the sum insured you choose will be enough to get the best healthcare treatment in your city. Do consider the approximate cost of getting treatment in different hospitals nearby. 

  • Get The Premium Estimate 

Buy Corona Rakshak policy with adequate sum insured at a premium you can easily afford. Furthermore, you are advised not to choose the policy based on the premium alone. 

  • Select the Right Policy Term 

Although Corona Rakshak policy is a short-term health insurance plan, you should select the longest policy period for maximum protection in these challenging times. 

What is the Difference between Corona Kavach and Corona Rakshak Policy? 

Both these types of health insurance plans are based on the IRDAI guidelines which were issued to help individuals get standard health insurance coverage. They also cover the cost of treatment related to Coronavirus disease. Since the pandemic is not over yet, the insurance regulator has extended these plans till September 30, 2021.  

However, there are several differences between Corona Kavach and Corona Rakshak policy.  

Also Read:A Complete Guide to Corona Kavach Policy

Corona Kavach Vs. Corona Rakshak Policy  

Parameters   Corona Rakshak Policy  Corona Kavach Policy 
Sum Insured  Rs. 50,000 to Rs. 5 Lakhs  Rs. 50,000 to Rs. 2.5 Lakhs 
Hospitalization required for   72 hours  24 hours 
Coverage  Individual   Individual and floater 
Insurance benefits  Lumpsum payable on Covid-19 diagnosis  Based on hospitalization expenses 
Insurance cover type  Benefit-based  Indemnity-based 
Optional cover  NA  Daily Hospital Cash 
Premium Mode  Single Premium 
Entry Age  16-65 years in general 
Policy Tenure  3.5 months, 6.5 months, 9.5 months 
Coverage for pre-existing diseases  Comorbidities/pre-existing diseases are covered 
Waiting Period   15 days 
Deductibles  NA 

 Corona Rakshak Policy FAQs 

  • Why should I buy Corona Rakshak policy for health cover? 

Corona Rakshak policy is a benefit-based plan which can help deal with financial worries arising because of Covid-19 treatment and hospitalization expenses. It is a standard, low-cost health insurance plan that is available both online and offline. 

  • Does Corona Rakshak health plan cover AYUSH treatment expenses? 

Yes, the policy covers the expenses related to AYUSH treatment as per the chosen sum insured and without any sub-limits.  

  • Is there any waiting period related to Corona Rakshak health insurance policy? 

The policy has a waiting period of 15 days, which means you can only file a claim after this period is over.  

  • Does Corona Rakshak policy cover comorbid diseases? 

This health insurance policy does cover comorbidities and pre-existing diseases.  

  • For how long can I avail home care treatment under this policy? 

The insurance company you choose to buy Corona Rakshak policy will offer coverage for home care treatment expenses for 14 days. 

  1. How can I renew Corona Rakshak policy? 

Since the IRDAI has extended coverage under Corona Rakshak and Corona Kavach policy till September 30, 2021, you can renew the policy online.  



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