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Corona Rakshak Policy: Features and Benefits, Should You Buy It?

In the phase of skyrocketing COVID-19 cases nobody is safe from probable contamination. Although India hasn’t entered the community containment phase yet, the current situation isn’t a treat either. In this scenario, it is imperative to be cautious about your health as well as finances. IRDAI has launched a new policy covering financial risk associated with COVID-19 named ‘Corona Rakshak’. The new guidelines encourage General health insurance companies as well as standalone health insurance providers to offer this policy to the consumers. This policy is especially beneficial for people without health insurance.

Here we have all the information you need about the features and benefits of this Corona Rakshak Policy​. Let’s dive right in!

Features


  • The coverage amount ranges from Rs.50,000 to Rs. 2.5 Lac, each in the multiples of 50,000
  • This policy can only be purchased on an individual basis
  • Pre-medical screening is not mandatory for this policy
  • There is a waiting period of only 15 days
  • The insurance can only be claimed if the diagnosed individual is hospitalized for a minimum of 72 hours.
  • It cannot be claimed if the patient has a proven travel history to the restricted countries
  • Once diagnosed as corona positive by government-authorized center, 100% insured sum will be paid in lump-sum
  • This policy is non-renewable. There is no provision migration either.
  • The paid premium for this policy is eligible for tax exemption under section 80D

    • Benefits


    Coronavirus is on a consistent rise and there is no sign of flattening of the curve. Health insurance is the need of the hour today, considering the importance of both health and money. In case you did not have a health insurance cover so far, what would be better than insurance packed with benefits and protects your financial interest while fighting against this deadly virus!

    Treatment Coverage


    Corona Rakshak Health Insurance can payout for your entire hospital bill if you require hospitalization for over 72 hours. This includes the cost of PPE kits, mask, gloves, oxygen, ventilator charges, nursing charges, boarding charges, room charges, and diagnostic test charges. It will also cover the most exorbitant charges incurred in ICU or ICCU treatment.

    In case of home treatment, the policy covers for 14 days of the treatment

    Optimum Payout


    With this insurance policy, you will receive 100% of the lump-sum amount of insurance coverage. This amount can be used to pay the hospital bills and post-hospitalization treatment.

    Standard Coverage


    This insurance is regulated by IRDAI and is standard across all the insurers. This means, regardless of which insurance you choose to buy this policy from, you will receive the exact same features everywhere.

    Ambulance Charges


    The hospitalization will probably include ambulance cost. This charge will also be compensated with the reimbursement of Rs.2000.

    Pre & Post Hospitalization


    This policy covers medical expenses incurred 15 days before hospitalization and 30 days after hospitalization including test charges.

    A Health Insurance Policy is an optimum solution for securing your finances during this pandemic. With this policy, you wouldn’t need to worry about your life savings draining out and concentrate on your health. Go through the details of this policy and insure your future with this policy!