Corona Kavach Policy Vs Corona Rakshak Policy | Fusion - WeRIndia

Many insurance companies offer short-term health plans to cover hospitalization expenses for the treatment of COVID-19 as per the norms of IRDAI.

Corona Kavach Policy and Corona Rakshak Policy are two different health insurance policies intended to cover Covid-19 related hospital expenses.

There are certain differences between the policies:

• Corona Kavach Policy can be offered by any general and health insurance company, but life insurance companies cannot offer them. However, Corona Rakshak can be offered by all insurers.
• Both policies differ in their type. While Corona Kavach policy is available on the basis of both individual and family floater, Corona Rakshak is available only on an individual basis.
• Corona Kavach policy offers optional benefit also, but Corona Rakshak policy does not have any such feature. Both the policies cover co-morbidity arising out of treatment in Covid-19.
• Corona Kavach policy is offered by 29 insurance companies from July 10. This policy pays for the cost of PPEs. There is no sub-limit on room rent under this policy. Since it covers a single ailment and for short-term, the premium starts from ₹208. Premium amount differs with each insurer based on the term it covers and age of the insured.
• Corona Rakshak policy is a fixed benefit plan. It pays the sum insured to the policyholders in the event of hospitalization due to COVID-19 for 72 hours.
• The minimum sum insured for both policies is ₹50,000. The maximum limit is ₹5 lakhs for Corona Kavach policy and ₹2.5 lakhs for Corona Rakshak policy.
• The minimum period of hospitalization for Corona Kavach policy is 24 hours and for Corona Rakshak policy, it is 72 hours.
• Corona Kavach policy is an indemnity based plan. The claim amount is reimbursed to the policyholders based on medical expenses they incurred. Corona Rakshak policy is a benefit plan. It pays a fixed compensation to the policyholder if the patient is hospitalized due to COVID-19 for 72 hours.

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