Corona Rakshak Policy: Features, Premium Rates, Claim Process And How To Buy It Online
The Corona Rakshak policy is a COVID 19-specific health insurance policy standardised by the IRDAI (Insurance Regulatory and Development Authority of India) for all health and general insurance companies. With this policy, the insured customer will receive a lump sum amount ranging from Rs. 50,000 to Rs. 2.5 lakhs if he/she is hospitalised for more than three days for COVID-19 treatment. The policy offers a complete insured sum instead of cashless treatment or reimbursement.
Features of the Corona Rakshak Policy
COVID-19 treatment can be cost-intensive. The Corona Rakshak health insurance policy is designed to financially protect you and your family members if they are diagnosed with COVID-19. Given are some of the unique features of this policy:
The policy will pay a fixed lump sum amount if –
- A Government-authorised testing centre diagnoses the insured person with COVID-19.
- If the patient gets admitted to a hospital for 72 hours or more after testing COVID positive.
1. Lump-sum insured
The insured sum starts at Rs. 50,000 and continues in multiples of Rs. 50,000 up to a maximum of Rs. 250,000. You only have to pay a one-time premium to get the insurance.
2. Tenure
The policy comes with short-term tenures of 3.5, 6.5 and 9.5 months without the option to renew it.
3. Age limit
Anyone between the age of 18 years and 65 years can get the policy.
How to Buy Corona Rakshak Policy Online
If you wish to purchase the Corona Rakshak policy online then follow the steps below:
- Visit the official website of the health insurance provider like NAVI health insurance.
- Select the gender of the beneficiary and the name of the beneficiary.
- Enter your current and valid phone and then view all the existing plans additionally enter the age of the beneficiary as well.
- Choose your state and city where you reside and want to avail your treatment.
- After selecting the plan, pay the premium or you can talk to the customer care representative if you need more information.
- Post completion of all the steps the policy will be sent to your registered email address.
What are the Benefits of Getting the Corona Rakshak Policy?
Following are some of the reasons why people may want to get a Corona Rakshak insurance policy:
- 100% lump sum payout of the sum insured
- Reasonable premium
- The policy has a very short waiting period of 15 days.
- Corona Rakshak saves policyholders from expensive hospital bills, ambulance charges, ICU costs and more.
Corona Rakshak Policy Premium Rates
Navi offers a number of health insurance policies, including standard Coronavirus covers such as Corona Kavach and Corona Rakshak. Take a look at the premium rates for ages of 18 to 65 years to check if this insurance policy fits your requirements (18% service tax included).
| Sum Insured | Rs. 50,000 | Rs. 100,000 | Rs. 150,000 | Rs. 200,000 | Rs. 250,000 |
| Tenure- 3.5 months | Rs. 670 – Rs. 1627 | Rs. 1,340 – Rs. 3,254 | Rs. 2,011 – Rs. 4,882 | Rs. 2,680 – Rs. 6,509 | Rs. 3,350 – Rs. 8,136 |
| Tenure- 6.5 months | Rs. 1,005 – Rs. 2,441 | Rs. 2,010 – Rs. 4,882 | Rs. 3,015 – Rs. 7,322 | Rs. 4,020 – Rs. 9,762 | Rs. 5,026 – Rs. 12,204 |
| Tenure- 9.5 months | Rs. 1,206 – Rs. 2,929 | Rs. 2,412 – Rs. 5,858 | Rs. 3,618 – Rs. 8,786 | Rs. 4,824 – Rs. 11,715 | Rs. 6,030 – Rs. 14,644 |
You can also check out other health insurance policies extended by Navi to find the one that matches your needs. Download the Navi App to secure the health of your entire family in less than 5 minutes! The most amazing thing is that the whole process is paperless and very efficient.
What Coverage is Included Under the Corona Rakshak Policy?
- ICU expenses: The lump sum can be used entirely for the ICU (Intensive Care Unit) expenses.
- Hospitalisation costs: If one is hospitalised for more than 72 hours, he/she can get the lump sum amount for hospital bills. The policy covers boarding charges, room rent, fees for consultants, anaesthetics, diagnostic tests, surgical appliances, etc.
- Covers home treatment: The insurer will pay for home treatment care for up to 14 days.
- Ambulance charges: Ambulance charges of up to Rs. 2,000 is covered by the Corona Rakshak Policy.
- Pre and post-hospitalisation expenses: The policy covers treatment expenses incurred 15 days prior to getting hospitalised as well as expenses incurred 30 days after discharge.
- Comorbid conditions: Along with Covid-19 treatment, this policy also covers treatment expenses for pre-existing health conditions and any comorbidity.
- AYUSH treatment: Corona Rakshak covers treatment expenses provided by an AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) practitioner.
Tax Benefits of Corona Rakshak Policy
Individuals who pay a premium for Corona Rakshak policy can claim tax deduction benefits under Section 80D of the Income Tax act. They can claim a deduction of up to Rs 75,000
How to File A Claim for Corona Rakshak Policy
Follow these steps to file a claim for Corona Rakshak Policy:
- Step 1: Inform the insurance-providing company about the diagnosis/hospitalisation.
- Step 2: For the cashless facility, the insured person needs to check for all the network hospitals and the insurance company will cover the hospital expenses.
- Step 3: Submit the medical card and required documents from the insurance company.
- Step 4: The beneficiary needs to submit all the hospital bills and pharmacy bills to the insurance company.
- Step 5: Hospital authorities and the doctor should sign all the necessary documents.
If the beneficiary wants to reimburse the expenses then he or she needs to pay the hospital bills with his or her money and later claim the money by submitting all the relevant documents and bills
Who Should Buy Corona Rakshak Policy?
The Corona Rakshak Policy is an important health insurance scheme in today’s era. Even though vaccines are already available in the market it is wise to purchase health insurance to cover the medical expenses related to COVID-19. If you and your family members are between the ages of 18-65 years then you can opt for this policy.
Moreover, if you test positive for COVID-19 and do not have an insurance policy that covers the expenses for COVID then this policy can save your expenditure as the waiting period to get it approved is only 15 days.
What Expenses are Excluded from the Corona Rakshak Policy?
- Diagnostic tests and medical treatment for Covid-19 outside India are excluded from Corona Rakshak’s coverage.
- If a person travels to a restricted country during the pandemic, he/she will be excluded from the policy’s coverage.
- The insurer can also reject a claim if the insured person gets his/her Covid test from a non-authorised diagnostic centre.
- The policy does not cover medical expenses unrelated to Covid-19.
- The policy also excludes claims raised during the 15-day waiting period.
- To raise a claim, the insured person must get hospitalised for at least 72 hours.
- Corona Rakshak does not cover the costs of buying any medicines not prescribed by one’s doctor.
How to Cancel Corona Rakshak Policy?
If the policy is not meeting your requirements then you can cancel the Corona Rakshak policy. However, cancelling the policy needs to be done within 15 days of purchase. The premiums that you paid will be adjusted according to the current norms of IRDAI.
Similarly, the insurance provider can also initiate cancellation of the policy if they find any information that is not true. This can include false medical history, forging of prescriptions, etc.
Difference between Corona Kavach Policy and Corona Rakshak Policy
Corona Kavach and Corona Rakshak are two important policies in India that provide COVID-19-related medical coverage to beneficiaries. They have certain differences that are discussed below:
| Features | Corona Rakshak Policy | Corona Kavach Policy |
| Type of cover | Benefit based | Indemnity based |
| Coverage | Individual policy | Family Floater policy and includes spouse, 2dependent children and parents |
| Sum Insured | Rs. 50,000 to Rs. 2,50,000, in multiples of Rs. 50,000 | Rs. 50,000 to Rs. 5,00,000, in multiples of Rs. 50,000 |
| Hospitalisation | Requires 72 hours to get the benefits after hospitalisation or diagnosis | Hospital expenses will be reimbursed within 24 hours |
| Compensation | Based on a one-time settlement | Based on the hospitalisation of the beneficiary or family |
| Add On cover | Does not allow add-on covers | Includes add-on covers |
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Final Word
The Corona Rakshak Policy allows people to be financially prepared for any medical treatment required due to COVID-19 infection. With a lump-sum payment, covering all manners of treatment costs, hospital bills, ambulance charges and more, this policy enables people to seek treatment without having to worry about the hospital and medical bills. Read through the terms and conditions before purchasing Corona Rakshak Policy.
FAQs
Ans: You can download the Navi Health Insurance app on your smartphone from Google Play. Choose the Corona Rakshak policy and enter details for the sum insured and tenure to instantly buy the insurance.
Ans: This is a one-time benefit policy offering the entire lump sum for Covid-19 treatment and gets terminated upon payment.
Ans: No. The Corona Rakshak is an individual plan and does not provide the option to add family members to it.
Ans: Yes. The Corona Kavach is an indemnity-based policy providing coverage from Rs. 50,000 to Rs. 5 lakhs and makes payments for hospital-related expenses only. Corona Rakshak policy is a benefit-based policy that provides a lump sum amount if the insured is hospitalised for a minimum of 72 hours.
Ans: No. You don’t need to undergo any medical screening or check-ups before getting the Corona Rakshak policy.
Ans: There is only one eligibility criteria for the Corona Rakshak policy and that is the beneficiary should be between the age of 18-65 years. Moreover, the maturity age is 66 years.
Ans: The minimum waiting period for the Corona Rakshak policy is 15 days.
Ans: Yes you can file your claim for Corona Rakshak policy online. You have to log in to the official website of the health insurance provider from whom you had purchased the policy initially.
Ans: Your insurance company can cancel the policy during circumstances like miss-representation, fraud from the insured person’s side or non-disclosure of material facts. Moreover, the company will give 7 days’ written notice before cancelling the policy.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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