Corona Rakshak Policy
  • Lump sum payout
  • High sum insured
  • ICU covered
Corona Rakshak Policy
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Corona Rakshak Policy

Since last year, Coronavirus has become our constant unwanted companion. This highly contagious and lethal virus took an enormous toll on people's mental and physical health.

In addition to this, the world has witnessed soaring death rates, wreaking havoc, and an increase in medical treatment expenses. Everyone is getting shivers from the enormous financial drain and uncertain life following COVID-19.

Though the situation has come under control, the danger of Covid-3rd wave is still hovering on our heads. Have you given a thought about how you would manage everything if god forbid you get infected with this virus?

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Looking at the rising cases of Coronavirus patients in the country in 2020, the Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for the Health Insurers to offer COVID General and Health Policy, named ‘Corona Rakshak', for individuals. The policy was launched on 10th July 2020 and was made compulsory to be provided by each Insurer.

Corona Rakshak is a single premium policy that will pay 100% of the sum insured as a lump sum if the policyholder is hospitalized for at least for 3 days after testing positive. In this policy, the Insurance sum could range between 50,000 to 2.5 Lakhs.

Let's explore more about the policy:

Eligibility Criteria

Product type Individual
Waiting period 15 days
Sum insured Rs. 50 Thousand to 2.5 Lakhs
Policy tenure 3.5 months, 6.5 months & 9.5 months
Entry age 18 years to 65 years

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Key Features of Corona Rakshak Policy

Corona Rakshak Health Insurance Plan is created with characteristics that offer financial protection to you and your family against the hospitalisation expenses incurred due to Coronavirus.

Following are some of the policy's unique features:

  • Lump sum Payment On a positive COVID diagnosis by a government-authorized centre, the entire sum insured is reimbursed in lump sum.
  • One Time Premium Payment Since the policy is a short- term cover, you only have to pay the premium once at the time of purchase. This makes it a hassle-free process.
  • Pre-Medical Check-Up No pre-medical examination is required in order to buy this plan.
  • Short Waiting Period The plan comes with a waiting period of only 15 days.
  • Individual Coverage The coverage is provided on an individual basis.
  • Tax Benefits Premium paid is eligible for tax exemption under Section 80D.
  • Loss of Income This is a benefit-based plan that offers a payout that can help you to compensate for a probable loss in income due to a COVID 19 diagnosis.

What's Covered under Corona Rakshak?

Inclusions of Corona Rakshak are specific to the procedures required during coronavirus treatment. The policyholder gets a lump sum payout from their Health Insurance provider if he/ she is diagnosed as COVID-19 positive by a government-approved diagnostic centre within the policy period. Check out the following benefits provided by the Corona Rakshak policy:

Hospitalization Expenses

If the hospitalization is more than 72 hours, the lump sum amount is paid to the policyholder.

ICU Expenses

The policy coverage amount also includes the cost of ICU/ICCU.

Pre & Post Hospitalization Expenses

Under the Corona Rakshak policy, Pre & Post hospitalization expenses are covered up to 15-days & 30 days respectively

Road Ambulance Charges

Road Ambulance expenses are also covered up to Rs. 2000.


  • Any hospitalisation that lasts less than 72 hours
  • AYUSH Coverage i.e. Ayurveda, Yoga, Unani, Siddha & Homeopathy
  • Claims filed based on diagnostic reports from unauthorized testing Centres
  • Any diagnostic or therapy that isn't connected to the COVID-19
  • Renewals and portability is not possible in this policy
  • Claims submitted before the initial 15-day waiting period are not covered.

Is Corona Rakshak available as a Family Floater Plan?

Corona Rakshak cannot be availed on a Family Floater Plan basis. You can buy individual health plans for your family members to ensure financial protection against Covid-19 related expenses.

But is this coverage enough?

The answer is No.

There could be two major reasons:

  • The cost of consumables are not covered in the standard Health Insurance Policy
  • The treatment cost is very high and usually exceeds the Health Insurance Cover.

Read along to find out the differences between Corona Rakshak and a Standard Health Insurance Plan.

Basis of Distinction Corona Rakshak Standard Health Insurance
Coverage Corona Rakshak is a specifically designed policy for coronavirus, that covers expenses specific to Coronavirus treatment. Standard Health Insurance covers coronavirus along with other illnesses and diseases.
Separate/ Same Policy You have to buy a separate policy that covers the treatment cost as well as the cost of consumables such as PPE kits, gloves, face masks, sanitisers etc You don't have to buy a separate cover or policy as it is all-inclusive in your Health Insurance.
Premium The premium paid is quite lesser than the standard Health plan The premium for standard Health Insurance is comparatively higher than the Corona Rakshak. The premium largely depends on your age, location, add-on covers opted for, plan, and sum insured chosen.
Policy Term It is a short-term policy and comes with a duration of 3.5 to 9.5 months It is a long-term policy that comes with a minimum term of 1 year.
Claims & Cancellation The policy will be cancelled once the claim is made. The policy will expire until your claims don't go above your total Sum Insured.

How Can I File Claims under Coron Rakshak Policy?

The COVID-19 claim process is somewhat similar to Health Insurance.

The first step to file any claim is to inform the respective Insurance Company about the diagnosis/hospitalisation.

Under the cashless facility, the policyholder first needs to check the Network Hospitals associated with his/her Insurer to get the treatment done. There is no need to worry about the expenses, as they are borne by the Insurer.

In the case of Reimbursement, the policyholder can get the treatment done in any hospital and primarily pay the bills on his/ her own. After discharge and sharing proper documents, (s)he can file a claim.


In such a scenario, where everyone is scared from the third wave of Corona, you cannot ensure that you will be able to avoid becoming a victim of Covid. In such situations, it is better to enrol in a health plan that not only helps you to pay medical bills but will also compensate for any loss of income caused by your illness. Thus, buying a Corona Rakshak policy is one of the best ways to safeguard your financial future.

Corona Rakshak Policy FAQs

1. What do you mean by lump sum benefit in a Corona Rakshak?

Lump sum means payment of the entire Sum Assured in one go.

2. Can I pay premiums in installments?

Since Corona Rakshak is a short- term cover, the option to pay premiums isn't available.

3. Can I buy Corona Rakshak online?

The answer is Yes. In fact, by buying the policy online, you will adhere to Social Distancing, which is beneficial & preferable.

4. Is Corona Rakshak available as a Family Floater Plan?

Corona Rakshak cannot be availed on a Family Floater basis. You can buy individual plans for your family members to ensure financial protection against Covid-19 related expenses.

5. I am availing Homeopathic Treatment for Covid- 19. Will I get coverage under Corona Rakshak?

No, AYUSH Treatment expenses are not covered under Corona Rakshak policy.

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