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Corona Rakshak Health Insurance Policy- A Guide

Updated on April 6, 2024 , 1817 views

Coronavirus pandemic has become a global health issue. While the pandemic has been sweeping across various countries around the world, scientists and doctors are working together incessantly to come out with a vaccine that would help cure those infected. The World Health Organization (WHO) confirmed that 570 288 people across the globe have succumbed to the virus while there are 12,964,809 confirmed cases exist as of 14th July 2020.

Corona Rakshak Health Insurance Policy

This situation calls for better medical treatment and care. One of the major concerns of affected people is the covering of hospital cost. The good news - The Insurance Regulatory and Development Authority of India (IDRAI) announced a special COVID-19 insurance policy.Corona Rakshak health policy was launched on July 10, 2020. It has been lauched with covers that is considerably lower than other health policies. The policy will offer an insured sum starting at Rs. 50,000 to Rs. 2.5 lakhs.

What is Corona Rakshak?

Corona Rakshak is a single-premium policy that IRDAI has directed all general and health insurance companies to provide from July 10, 2020. This is a standard benefit-based insurance policy that will provide up to Rs. 2.5 lakhs for hospitalisation expenses regarding COVID-19. The policy will be called the Corona Rakhshak Policy, which will be succeeded by the name of the insurance company.

Senior citizens up to the age of 65 can avail this policy. It will be issued for 3-and a half months (105 days), 6-and half months (195 days) and 9-and a half months (285 days).

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Corona Rakshak Policy Details

IRDAI has set out guidelines about Standard Benefit-Based Health Policy. They are mentioned below:

Insured Amount

The minimum amount that will be insured will Range between Rs. 50,000 and the maximum will be Rs. 2.5 lakhs. The amount will have to be in multiples of Rs. 50,000.


Anyone between the age of 18 years and 65 years can avail the policy.

Individual Basis

The policy is made available to individuals only.

Benefit Basis

The base cover and add-on cover will be made available based on a benefits Basis.


The modes of premium payment is a single premium.

Structure of Benefit

The benefit payout will be disclosed in the format of application form along with other relevant documents. On payment of 100% of the amount insured the policy will be terminated.

Freelook Period

If you are insured, you will be allowed at least 15 days from the Receipt date of the policy to review terms and conditions of the policy and to cancel the policy if not acceptable.

Other Regulations

Lifelong renewability portability and migration mention under the regulation 13 and 17 of IRDAI (health insurance) Regulations, 2016 are not applicable to Corona Rakshak.

How will Corona Rakshak Benefit You?

This benefit-based standard policy will help you if you are someone with no health insurance and are looking for health insurance amid the COVID-19 pandemic. However, if you already are having health insurance, this benefit policy may not be of any help since you are already insured.

If you don’t have a health insurance policy, then you should opt for this policy. For example, if you have the Corona Rakshak health policy with a maximum amount insured of Rs. 3 lakhs, on hospitalisation you will get a lump sum payout of Rs. 3 lakhs. Please note that if the hospital bill goes higher than the insured amount, you will have to bear out-of-pocket expenses.


Corona Rakshak is one of the best policies available to help you through the pandemic. It is always good to have the insurance to keep yourself and family others in your family safe.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
How helpful was this page ?

Rajesh, posted on 25 Aug 20 9:07 PM

This policy very helpful

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