You can purchase Corona Kavach, Corona Rakshak insurance policies until September 30, 2022

The Insurance Regulatory and Development Authority of India (IRDAI) has announced that the Covid-19 specific health insurance policies Corona Kavach and Corona Rakshak will continue to be sold by general insurers and standalone health insurers until September 30, 2022.

In a circular issued on March 28, 2022, IRDAI said: “Corona Kavach policies are offered in accordance with the Standard Covid Compensation Based Health Policy Guidelines of Circular ref. IRDAI/HLT/REG/CIR/163/06/2020 dated 26.06.2020 and proposed Corona Rakshak policies in accordance with the Covid Standard Benefit Based Health Policy Guidelines of Circular ref. IRDAI/HLT/REG/CIR/164/06/2020 of 26.06.2020 are also authorized to be offered and renewed by all insurers until 30.09.2022.

Corona Kavach and Corona Rakshak are two low cost basic health insurance policies. These measures were first announced in June 2020, with a deadline of March 31, 2021. With the second pandemic wave sweeping the country, the regulator decided to extend the policy until September 30, 2021. Now the IRDAI has decided to extend the deadline until September 30, 2022.

What is Corona Kavach and Corona Rakshak?

Corona Kavach is a compensatory health insurance cover that protects you from Covid-19. In the event of Covid 19 illness, this cover reimburses actual expenses within the limit of the policy. This policy offers a minimum insured value of Rs 50,000 and a maximum sum insured of Rs 5 lakh. This policy is available as a floating plan for individuals or families. The patient must be hospitalized for at least 24 hours due to covid to be able to benefit from this insurance.

Corona Rakshak, is a standard benefit-based health insurance plan. This cover promises to pay out the insured amount if the insured person is diagnosed with a specific type of covid 19 disease. This policy has a minimum insured value of Rs 50,000 and a maximum insured sum of Rs 2.5 lakh. This policy is only offered as an individual policy and not as a floating family plan. A minimum of 72 hours of hospitalization is required for the covered person to be eligible.


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