Corona Rakshak Policy by Digit Insurance

What is the Corona Rakshak Policy?

Features of the Corona Rakshak Policy

Single Premium Payment
Single Premium Payment - pay only once since this is a short-term cover only.
Lumpsum Benefit
Lumpsum Benefit - Get the total sum insured as a lumpsum instead of reimbursing hospital bills. 
Choose between 3.5 months or 9 months expiry
Choose between 3.5 months or 9 months expiry - Choose how long you want the corona rakshak policy for. 
Individual sum insured only
Individual sum insured only - The corona rakshak is specific to individuals only, no family floater plans are available. 
Choose sum insured between 50,000 to 2.5 lakhs
Choose sum insured between 50,000 to 2.5 lakhs - Choose the sum insured you’re comfortable with, in multiples of 50,000.
Available for ages 18 to 65 years
Available for ages 18 to 65 years - Anyone between the ages 18 to 65 are eligible to buy the corona rakshak policy.

What’s covered under the Corona Rakshak?

Hospitalization more than 72-hours

The lumpsum amount is given to you only if there is hospitalization required, of more than 72 hours.

ICU expenses

The lumpsum amount can be used for the entire treatment, including covering for ICU expenses.

Road ambulance charges

The lumpsum amount also includes charges towards the road ambulance.

Home treatment cover

If you or your family member needs prescribed treatment at home for up to 14-days. The lumpsum amount can be used for the same.

AYUSH

If you’d like to use AYUSH treatment for COVID-19, this policy can be used for the same.

Pre & Post Hospitalization expenses

Pre hospitalization expenses up to 15-days and post hospitalization expenses up to 30 days are covered under the corona rakshak policy.

What’s not covered under the Corona Rakshak?

Treatment or diagnostics outside India.

Any hospitalization below 72 hours.

Any diagnosis or treatment not related to the COVID-19 is not covered.

Claims made before initial waiting period of 15-days is not covered.

Renewals or portability on the corona rakshak are not applicable.

Corona Rakshak Policy Premium Calculator

Based on the kind of plan you opt for, here is a summary of what your premium for a corona rakshak plan may look like:

Sum InsuredPremium (Term- 3.5 months)Premium (Term- 6.5 months)Premium (Term- 9.5 months)
₹50,000₹700 onwards₹900 onwards₹1,000 onwards
₹1 Lakh₹1500 onwards₹1800 onwards₹2,000 onwards
₹1.5 Lakh₹2300 onwards₹2700 onwards₹3,100 onwards
₹2 Lakh₹3000 onwards₹3600 onwards₹4,100 onwards
₹2.5 Lakh₹3800 onwards₹4600 onwards₹5,100 onwards
Disclaimer: These are only the estimated premiums. The same may vary according to the insurer you pick and the age of the insured person.

Advantages & Disadvantages of the Corona Rakshak Health Insurance

Advantages

Disadvantages

One-time premium payment: Since the corona rakshak is a short-term cover, you only have to pay the premium once at the time of purchase.

Short-term cover only: One of the main disadvantages of the corona rakshak is that, it is valid for a short period of time only, from 3.5 months to 9.5 months after which the policy expires.

Lumpsum amount: Instead of having to reimburse bills, what’s great about the corona rakshak is that you receive the entire sum insured at the time of claims, as a lumpsum.

Limited sum insured: Since this is a health insurance only specific to coronavirus related treatment, the sum insured is limited to a maximum of Rs 2.5 lakhs only.

Affordable Premium: Since the corona rakshak is a short-term cover only, the premium for it is a lot more affordable than standard health insurance policies.

Limited benefits: Apart from covering for the COVID, there are no other benefits of the corona rakshak policy.

Well suited for those with a corporate health insurance: If you’re someone who already has a corporate health insurance and are hence only looking for a coronavirus specific cover, this makes for a suitable cover.

Not very useful if you already have a health insurance: If you already have a good health insurance policy, then coronavirus treatments would already be covered under your policy and getting an additional covid—specific policy may not be that helpful.

Difference between Corona Kavach vs Corona Rakshak

Corona Kavach

Corona Rakshak

Policy type

Corona Kavach is a covid-indemnity plan that helps one get their hospital bills covered when they’re being treated for the covid-19.

Corona Rakshak is a covid-benefit policy. Here, a lumpsum benefit is offered instead of getting specific hospital bills covered, i.e. the insured receives the entire sum insured if they are to be treated for the virus.

Sum Insured

Choose between minimum Rs 50,000 and maximum, Rs 5 lakhs.

Choose between minimum Rs 50,000 to maximum, Rs 2.5 lakhs.

Hospitalization terms

One can claim through their Corona Kavach cover if they need hospitalization for more than 24-hours.

One can only claim through their Corona Rakshak and receive the lumpsum if the hospitalization required exceeds 72-hours.

Type of plans available

In Corona Kavach, one can choose between a family floater and individual plan.

In a Corona Rakshak cover, you can only opt for an individual plan, there is no option for a family floater.

Additional benefits

In a Corona Kavach policy, you can also opt for a daily hospital cash cover wherein you can receive 0.5% of your sum insured for each day of hospitalization.

There are no additional benefits or covers available in a Corona Rakshak policy.

Difference between Corona Rakshak and a Standard Health Insurance

Corona Rakshak

Standard Health Insurance

The corona rakshak is a pocket size insurance policy that provides a lumpsum benefit to cover for costs only for treatment pertaining to the COVID-19.

A health insurance that covers coronavirus means your health insurance policy will also cover for coronavirus among other illnesses and diseases. You don’t have to buy a separate cover or policy for a separate disease. It is all inclusive in your health insurance.

The Corona Rakshak is a short-term policy and the policy is no longer valid after a claim, or after the duration of 3.5 to 9.5 months (based on plan chosen).

A health insurance is a long-term policy (you can choose from 1 year to multi-year plans) and you can claim as many times in a year, as long as your total claims don’t go above your total sum insured.

Apart from covering for coronavirus, there are no other additional benefits of a coronavirus insurance.

Apart from covering for coronavirus, a standard health insurance policy also comes with other benefits such as maternity and newborn baby cover, OPD, Daycare Procedures and more.

You can’t use a single cover for tax savings.

Under section 80D, a health insurance is eligible for tax savings to up to 25,000

The premium for a coronavirus insurance may be lesser since it is a specific cover to one disease only. The premium here depends on your age, duration of plan and sum insured chosen.

The premium for a 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.

Health insurance Options for COVID-19

FAQs about the Corona Kavach Policy in India