IRDA announce 'Corona Kavach’ and 'Cornoa Rakshak’ policy to insurance companies

Regulatory Development Authority of India (IRDAI) announces guidelines for two standard COVID-19 health insurance policies offering 'Corona Kavach’ and 'Cornoa Rakshak’ to insurance companies with similar characteristics, terms and conditions.

It is mandatory for general and health insurers to supply the reimbursement-based standard COVID-19 product, while offering the benefit-based product is optional for all insurers.

“General and Health Insurers shall make sure that this product is compulsorily offered on or before 10th July, 2020,”

The premium under both the products shall be pan India basis and no geographic location or zone-based pricing are going to be allowed, consistent with the IRDAI.

Corona Kavach- which will be a standard health policy.

According to the rules by the IRDAI, the minimum sum insured for the Corona Kavach Policy are going to be ₹50,000 and therefore the maximum sum insured would be ₹5 lakh. There is also a five per cent discount for healthcare workers.

The Corona Kavach Policy would have tenure period ranging from three and half months to six and a half months, and nine and a half months.

Those between 18 and 65 years of age can buy this product. Parents can also be covered under this product.

Corona Kavach policy are going to be an indemnity-based policy, but optional cover shall be made available on benefit basis. The base cover will offer hospitalization expenses like room and boarding charges alongside PPE kits, gloves, masks and such other similar expenses and even AYUSH treatment.

Corona Kavach also will cover home care treatment expenses of up to 14 days, if it involves a lively line of treatment and is completed on a medical practitioner's advice, among other conditions. Cost of pulse oximeter, oxygen cylinder and nebulisers also will be covered.

The policy would also include the cost of treatment for any comorbidity or pre-existing disease along with the treatment of Covid-19.

Expenses for hospitalisation, home care treatment, AYUSH treatment and pre- and post-hospitalisation, will also be covered.


Corona Rakshak-  standard benefit policy.

Corona Rakshak, the single-premium plan can pay out 100 per cent of the sum insured as lump-sum if the policyholder is hospitalised -- a minimum of for 72 hours -- after testing positive for COVID-19.

In the Corona Rakshak Policy, the minimum sum insured is 50,000 and the maximum limit has been set at Rs 2.5 lakh.

The minimum entry age for both the policies shall be 18 years and therefore the maximum is 65. Dependent children shall be covered from the age of three months to 25 years.


At home, treatment would be covered for up to 14 days per incident.

The policy tenure might be 3.5 months, 6.5 months or 9.5 months, including the waiting period, and insurance rules like lifelong renewability, migration, and portability shall not be applicable to these products.

Both policies shall accompany 15 days waiting period, during which no claim are going to be accepted.

Expenses for hospitalisation, home care treatment, AYUSH treatment and pre- and post-hospitalisation will also be covered in both the policies.

Policyholders can avail of the services on a cashless basis which shall be arranged by the insurer through network providers.

Premiums for both the products shall be an equivalent pan-India and geographic location-based as zone-wise pricing isn't allowed. The option to pay premiums in instalments is also not available for these products.