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- Corona Kavach And Corona Rakshak Policy Can Be Purchased And Renewed Till March 31, 2022, IRDA Extended The Deadline
New Delhi9 hours ago
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Insurance Regulatory IRDA has allowed insurance companies to sell new Corona Kavach and Corona Protector and renew old policies till March 31, 2022, in view of the Corona epidemic. Earlier it was allowed to issue policies till 31 September 2022.
IRDAI had issued guidelines in June last year for insurance companies to issue two standard policies with coverage of Kovid – Corona Kavach and Corona Rakshak – to people in the age group of 18 to 65 years. These policies will be valid for three and a half months, six and a half months and nine and a half months.
Financial help is available when there is corona
Corona Kavach is indemnity policy whereas Corona Rakshak is a benefit cover. That is, those who have Corona Kavach will get cash free medical treatment or will get reimbursement for the cost of treatment. Those who have purchased Corona Protector, they will get a predetermined amount if they claim to be Kovid.
It is necessary to be hospitalized for 24 hours in Corona Kavach
In Corona Kavach, the policyholder is given the cost of hospitalization for at least 24 hours. Apart from the treatment at home, the insurance company also pays the expenses before and after hospitalization.
The policyholder who buys Corona Protector gets the full amount of insurance when he turns out to be Kovid positive. But for this, it is necessary for the policyholder to stay in the hospital for at least 72 hours.
5 lakh Rs. will get cover up to
The sum insured for the Corona Kavach policy is a minimum of Rs 50,000 and a maximum of Rs 5 lakh (in multiples of Rs 50,000). At the same time, in the Corona Rakshak policy, you will get a cover of minimum 50 thousand rupees and maximum 2.5 lakh rupees.