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Covid Specific Health Insurance
Corona Kawach & Corona Rakshak Health Insurance Plans
Year 2020 is proving itself to be the toughest year to pass all over the world. The rapid increase in Covid-19 cases world wide are on one hand causing fear in mind and on the other hand also making us learn how to live with it.

These uncertain times have made IRDAI (Insurance Regulatory & Development Authority of India) to launch Covid specific insurance plans. IRDAI had instructed Insurance companies to offer some covid specific health insurance plans. Corona Kawach and Corona Rakshak health insurance plans are then introduced to provide insurers with some relief in the form of short term cover for COVID treatment.

On the guidelines of IRDAI now all the existing regular Health Insurance Polices cover claims for Covid 19 infection.

Along with health impacts, Corona Virus pandemic has brought in the financial worries too. To mitigate the financial impact of Covid 19 treatment short term Covid specific health insurance plans are launched.

Covid Kawach provides reimbursement of hospital bills as its an indemnity based plan where as Covid Rakshak provides lumpsum payment upto 100% amount secured.

Corona Kawach
(Indemnity based plan)

Corona Rakshak
(Benefit based plan)
3.5 months(105 days), 6.5 months(195 days) & 9.5 months(285 days)

Age Limit
18 to 65 years

Sum Insured
Minimum ₹50,000 to max ₹ 5.00 Lakh

What is Covered?
Being an indemnity plan costs incurred will be reimbursed on the basis of hospital bills.
  • It covers cost of consumables in treatment like PPE kit, masks, gloves & other similar expenses in Covid treatment
  • Hospitalization expenses including ICU charges, Ventilator expenses, Oximeter & Oxygen expenses will also be covered.
  • Home isolation expenses for upto 14 days are also covered
  • Covers cost of AYUSH treatment 
ADD on option
Covid Kawach Policy has an add option of ₹2500 hospital daily cash for policies having cover of ₹ 5.00 Lakh

3.5 months(105 days), 6.5 months(195 days) & 9.5 months(285 days)

Age Limit
18 to 65 years

Sum Insured
Minimum ₹50,000 to max ₹ 2.50 Lakh

What is Covered?

Its a benefit plan in which Lump Sum amount is paid upto 100% of sum insured on policyholder being diagnosed as covid positive and hospitalised for minimum 72 hours.

So no reimbursement of any cost, only a lump sum will be received.

ADD on option
No such option in Covid Rakshak Policies

Amount of Premium
Premium for Covid Specific Helath Insurance Policies depends on the sum insured, age of policy holder, tenure of the policy and the Compay providing Insurance. Premium can be as low as ₹380 and can go beyond ₹4000.

My Opinion
If you do not have any Health Cover, then considering the risk of Covid, Covid Health cover can be opted for. Once risk is reduced, you should opt for some extensive health insurance options.

If you alreay have a health insurance plan, then Covid Health Insurance can only be taken to augment your existing plan. Covid health insurance being a disease specific plan can not act as a replacement to more extensive health insurance plans.

Almost all health Insurance plans now cover Corona Virus infection. So an extensive Health Insurance cover is a good option which will cover not only Corona Virus but many other disease/infections too.

Covid Health Insurance premium is also eligible for Deduction u/s 80D of Income Tax Act.

Who may opt for Covid Specific Insurance?

Whoever is working in sectors/areas where risk of getting Corona Virus infection is higher may look for Covid Health Cover as this will protect them against the expenses of Covid treatment.

Covid Health Insurance are more actively taken by many e-commerce companies for their front line workers. E commerce companies like Flipkart, Swiggy, Zomato, Amazon have started buying Covid Health Insurance for their delivery workforce  and other workers who are facing the risk.

Some Quick Links

Which Tax Regime to opt for? New or Old??

Investment in NPS - Additional deduction of 50000 u/s 80CCD

Deduction for mediclaim/health insurance premium-Section 80D

Deduction for maintenace of a differently abled dependent-Section 80DD

Deduction for Interest on Education Loan u/s 80E

Deduction U/s 80U to the Differently Abled

Deduction for Savings Bank Interest 10000 u/s 80TTA

Deduction for Interest for Senior Citizens 50000 u/s 80TTB

How to Donate to PMNRF(Prime Minister Relief Fund)-Deduction u/s 80G

Deduction for rent paid u/s 80GG

How to Donate to PMCARES-Deductible u/s 80G

Dont miss to link PAN with AADHAR. How to link PAN & AADHAR Read in detail...

Standard deduction from salary of 50000/ in detail...
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