Coronavirus Health Plan Is Not an Alternative to Comprehensive Health Insurance


The Insurance Development Authority of India (IRDAI) has directed all insurers to provide a standard COVID-19 health insurance plan.

Here are some offerings of the Corona Rakshak Policy:

  • Covers coronavirus related hospitalization (in-patient and intensive care unit charges) and quarantine expenses in a registered facility
  • Offers a sum insured between INR 50,000 to INR 2.5 lakh
  • Includes a policy duration of 105 days, 195 days, and 285 days
  • Is available to Indian citizens from the age group of 18 to 65
  • Has a waiting period 15days from the date of receiving the policy

A coronavirus health insurance policy is advisable if you do not have a regular plan to protect yourself during the current pandemic. However, if you already have a health plan, the Corona Rakshak Policy may not offer any additional benefits. You must check the terms with your current insurer before you choose ahealth insurance for coronavirus plan.

Here are some features of a regular health policy:

  • Higher sum insured of up to INR 2 crore
  • 150% reload of the sum insured for additional claims arising from unrelated ailments
  • Coverage of pre- and post-hospitalization expenses
  • No-ClaimBonus (NCB) up to 10% of the sum insured for each claim-free year
  • Domestic and international emergency assistance services
  • Coverage for more than 500 day-care procedures
  • Daily cash allowance, ambulance charges, and lifetime renewability
  • Rewards for leading a healthy lifestyle through HealthReturns

Most insurers cover coronavirus in their comprehensivemedical insurance, which pays for the treatment costs in a registered hospital.

Here are three reasons why a Coronavirus Rakshak Policy may not be suitable:

  • Options like lifelong renewability, portability, and migration are not applicable
  • Coverage is automatically terminated after you receive the policy amount
  • Hospitalization of at least 72 hours is required to be eligible for the policy benefits
  • Unavailability of additional riders like personal accident or critical illness

Comprehensive plans offered by well-known health insurance companies cover expenses related to COVID-19. These include:

  • Medical expenses during hospitalization based on the policy’s terms and conditions
  • Costs incurred for living in isolation in a registered facility
  • Cashless health insurance coverage when treatment is at a network hospital

You may opt for a COVID-19 policy as an additional cover; however, it cannot replace a regular health plan. With healthcare costs skyrocketing due to inflation, a mediclaim is necessary to safeguard your financial stability in case of any medical emergency.

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