Coronavirus Insurance Plans Extension

Coronavirus insurance plans extension! buy Corona Kavach, Corona Rakshak policies till this date

IRDAI had asked insurers Coronavirus Insurance Plans Extension to design need based products covering costs of treatment of coronavirus.

Coronavirus Insurance Plans Extension


If you haven’t purchase a Coronavirus health insurance plan yet, there is good news for you.

(IRDAI) has extend the time line to offer & renew short term Covid-19 specific health policies up to September 30, 2021.

Short-term health insurance policies provide coverage for the COVID-19 disease were introduce in June 2020.

Health insurance policies issue for a policy term of less than 12 months & the guidelines valid till March,2021.

To meet hospitalization costs arising out of Covid-19, there are two specific insurance plans.

One is the Corona Kavach policy which is being offer by General insurance companies.

Corona Rakshak policy which may be offer by all insurers, including life insurers.

IRDAI had asked insurers to design need based products covering costs of treatment of coronavirus (COVID-19)disease.

All insurers (Life, General and Health Insurers) were allowe to offer COVID – 19 specific short term health insurance policies subject to these guidelines.

IRDAI has extend the timeline and all insurance companies including Life, General and Health Insurers are allowed to offer.

Renew short term Covid specific health policies up to September 30, 2021.


Coronavirus Insurance Plans Extension

Corona Kavach & Corona Rakshak – Differences

Who offers them

COVID Standard Health Policy needs to be compulsorily offer by all general & health insurance companies and life insurance companies cannot offer them.

To buy Corona Rakshak Policy, one may approach any insurer including the life insurance company.

Minimum & maximum

The minimum sum insured for Corona Kavach Policy is Rs 50,000 & the maximum is Rs 5 lakh while for the Corona Rakshak Policy.

The minimum sum insured is Rs. 50,000 & the maximum limit shall be Rs.2.5 lakh.


In the Corona Kavach Policy, the base coverage or the sum insure will apply only when there is a hospitalization of a minimum period of 24 hours.

The hospital expense up to the sum insure pay will  as claim by the insurer irrespective of the days of stay in the hospital.

Corona Rakshak Policy but it requires hospitalization for a minimum continuous period of 72 hours.

Nature of policy

The Corona Kavach Policy shall have One Basic mandatory cover and One Optional Cover.

The premium payable towards this Optional Cover will pay separately so as to enable policyholders to choose & pay base on the need.

The Base Cover of Corona Kavach Policy will be offer on Indemnity basis whereas Optional Cover shall be made available on Benefit Basis.

In an indemnity cover, the claim is paid as per the hospital bills while in a Benefit cover, the entire sum insure is paid to the policyholder.

Coronavirus Insurance Plans Extension

Type of policy

One can buy Corona Kavach both on an individual basis and on Family Floater basis.

Corona Rakshak is offer on an individual basis only and hence no Family Floater option is available in it.

Optional benefit

The Corona Kavach Policy gives one the option to add ‘Hospital Daily Cash’ cover.

Under it, the insurer will pay 0.5 per cent of the sum insured per day for every 24 hours of continuous hospitalization for treatment of COVID .

The benefit shall be payable maximum up to 15 days during a policy period.

However, there is no such feature in Corona Rakshak policy as it is entirely a benefit-based plan.


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6 thoughts on “Coronavirus Insurance Plans Extension

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