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Should You buy Corona Kavach/ Corona Rakshak Policy

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Mamta Khanna

Corona pandemic treatment is burning a hole in people pocket, therefore IRDA has mandated all life insurance, Health Insurance, and general insurance companies to launch COVID Standard Health Insurance Policies. With respect to the above regulation, companies have come up with two types of Health Insurance cover for Corona, namely
  • Corona Kavach 
  • Corona Rakshak
 Corona Kavach is an indemnity based health insurance cover. which covers reimbursement in case of hospitalization or home treatment on doctor advice. Corona Rakshak is a benefit based plan that pays a fixed sum to the policyholder in case he suffers from Covid 19. To know more about the features, eligibility please consider to watch the video.   If you already have a Comprehensive health insurance plan then you may ignore buying Covid standard health policy. However, if your comprehensive regular cover is low than you may consider increasing your cover by adding a super top-up plan. Alternatively, you can buy Corona Kavach/ Rakshak Plan. The plan can be used in combination with basic plans to increase the overall cover size. For instance,if you have cover of about 3 to 5 lac then you may consider to buy a Corona Kavach for Rs 5 lac cover. The plan also covers ventilator and ICU charges, cost of oximeter and oxygen cylinder. It is worth knowing that your regular insurance plan does not cover expenses related to PPE kit, mask, gloves, and other consumables and hygiene charges. These days, most of the hospitals are charging hygiene cover. Your regular plan may also not cover for Ayush treatment or home based treatment also. If you are young and you do not have a health insurance cover then you should think of buying a comprehensive regular health insurance plan with high insurance cover. You may also supplement your insurance with a super top up plan, to increase your cover in a cost-efficient manner.  If you cannot afford to buy regular Health Insurance then buy short term Corona Kavach/ Corona Rakshak immediately. Young and married people/middle age can consider buying family floater corona kavach and corona Rakshak. Corona Kavach plan does not cover people above 65. Hence, if you are above 65, you may consider buying a comprehensive health insurance plan.

Conclusion

The COVID standard health plans are useful to those who have low insurance cover. Secondly, if you cannot afford to buy basic health cover plans,than you may consider buying these plans. However, you may also consider buying if you want to increase your cover amount also. If you have basic health insurace cover even than you have to shell out money from your pocket in lieu of hygiene charges, oximeter etc. The corona cover adds to your cover and pocket friendly plan.
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