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We all know that in the wake of Coronavirus pandemic Insurance Regulatory and Development Authority of India launched two new health insurance policies namely, Corona Kavach and Corona Rakshak. While Corona Rakshak was a benefit based policy and gave the insured sum to the person tested positive and covered under the insurance. Corona Kavach covered the hospital costs and pre-post hospitalisation expenses as well. These policies were available in three tenures of 3 and a half month, six and a half month and nine and a half month. Recently IRDAI allowed insurance provider to offer policyholders the option to renew, migrate or port both the policies. The sum insured in Corona Kavach policy ranges from 50,000 to 5 lakh. Thus, people might consider upgrading their plan by increasing the sum insured and tenure. 


Now, policyholders are allowed to renew their policy for the same tenures as was previously mentioned. The renewal is subjected to the underwriting of the plan by the insurer. It is mandatory to renew the policy before the expiration date after which they will have to get a new one. If the policy is renewed before the expiration date, the additional waiting period would not be imposed. However, if the person wishes to increase the coverage, the waiting period will be implemented on the increased sum, while the previous coverage will be extended without any waiting period. 

On Migration

For Corona Kavach policies, the policyholder has the option to migrate their policy to any other insurance provider. Insurers will have an option to provide migration to the members who are insured o any other individual indemnity based health policy at the time of exit. 

On Portability

Health insurers are permitted to allow portability of corona kavach policy from one insurer to the other. The waiting period that has been served will be protected during migration or portability. According to the new clause, if a person opts for a few adjustments, the waiting period will apply only to the changed clauses according to the add-ons opted. This migration/portability can be due to a change to a comprehensive health insurance policy. 

What option do policyholders have?

This change is for the entire benefit of consumers as now they will have more options to think about their policy. It will give people a comprehensive protection plan when they need it the most. The decision lies on the person. With the situation getting intense, it is crucial to have a health insurance policy in your pocket. If you feel you have the capability to afford comprehensive protection for yourself and your family, port your plan to comprehensive insurance right away. It will give you many additional benefits also with the change you will be eligible for the previous sum insured under Corona Kavach policy

On the other hand, many people have lost their jobs and have faced an economic downturn due to the pandemic. If you feel this is not the right time when you can invest in a policy. You can simply continue with your previous plan of Corona Kavach Policy.