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Who Should Buy Corona Rakshak Policy And Why?


The Covid-19 pandemic, which began in 2020 and continues to this day, has claimed millions of lives around the world. To date, the only known method of combating it has been massive 'lockdowns' and physical separation, which have resulted in an economic downturn and job losses. The Corona Rakshak Policy was created primarily to help people cope with the costs of a pandemic when they are already in financial distress. The policy is important if you want coverage for coronavirus illness, but you should also look at other policies to find one that will provide you with full coverage at a fair price. For covid-19, the majority of insurance firms are offering the regulator-mandated standard indemnity health scheme, Corona Kavach, but only a few have begun offering the standard benefit-based policy, Corona Rakshak.


Major Features of Corona Rakshak Policy

Major Features of Corona Rakshak Policy

  • The Corona Rakshak Scheme has a single premium payment term, which means you can pay all of your premiums in one lump sum and avoid making any more periodic payments.
  • The Corona Rakshak Policy includes an individual cover that ranges from Rs 50,000 to Rs 2.5 Lakh in coverage.
  • If the policyholder tests positive for Covid-19 at a government-approved center, 100 percent of the amount insured is charged as a lump sum to the policyholder.
  • A policyholder does not need to undergo prior medical screening in order to be eligible for this policy, and it is not required for purchasing or investing in the Corona Rakshak Policy.
  • One of the most appealing aspects of the Corona Rakshak scheme is that it has no deductibles, meaning that the medical care and monitoring are not jeopardized.
  • Persons between the ages of 18 and 65 can apply for the policy. A proposer of a higher age may purchase insurance for adult family members without protecting himself.
Benefits of Corona Rakshak Policy

Benefits of Corona Rakshak Policy


If a policyholder tests positive for Covid-19 and has to be hospitalised, their hospital bills are fully protected by this benefit. This policy covers all expenses associated with the diagnosis, care, and hospitalisation for Covid-19, and the policyholder is assured of having to invest any excess funds on his own.

Treatment due to Covid

When a patient does not need to be admitted to the hospital, this feature covers all medical expenses for 14 days and allows the policyholder to use the lump sum amount for any treatment-related expenses. It's a useful advantage that guarantees you get the best medical care possible, regardless of how long you're in the hospital.

Payout due to Covid

The Corona Rakshak policy enables its policyholders to receive their sum assured in a lump sum format. This aspect is beneficial for policyholders under this benefit, where they can choose to use that same amount for making payments towards consumables such as PPE kits.

Compensation due to Covid

Policyholders may use this feature to request a benefit payment if they lose their income as a result of a Covid-19 diagnosis. As a result, the policy seeks to meet your financial needs and requirements, even if you lose your work.

What happens when a person tests Positive?

What happens when a person tests Positive?

On a positive diagnosis of COVID requiring hospitalisation for a minimum of 72 hours, a lump sum payout equal to 100% of the Sum Insured would be paid. A government-approved diagnostic centre must have a positive COVID diagnosis. Payment can be made only if you are admitted to the hospital for a minimum of 72 hours after receiving a positive COVID diagnosis.

Who Should Consider Corona Rakshak Policy?

If you already have health insurance but are concerned that a positive diagnosis for covid-19 will result in a loss of income, Corona Rakshak could be for you. PPEs (personal protective equipment) and other consumables are not often protected by standard health insurance plans. This is where Rakshak could come in handy. If you already have sufficient health insurance, opting for Corona Rakshak for income replacement makes sense because most insurers' premiums are just 1-2% of the amount insured.

This is a one-time bonus that will last for the duration of the Policy and will end when it is paid.

Read more about: insurance covid
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