Best insurance policy for Covid 19 , best and cheap covid insurance policy, Corona Kavach Vs Corona Rakshak
In view of covid-19 IRDAI has launched two health insurance policies Covid Kavach & Covid Rakshak. Both the scheme is to be mandatorily launched by all the insurance companies.
The Terms & Features will remain the same in every insurance companies of these two schemes except its premium which can be decided by the insurance companies themselves.
Covid kavach is an Indemnity based insurance cover, the insurer gets the amount upto the bills he had generated (Upto the sum insured).
Jitna Kharcha hoga bas utna milega ….lekin insured amount se jyada nhi milega
In covid kavach scheme 1 day of hospitalization is necessary to get the benefit of this scheme, Pre-hospitalization of 15 days & Post-hospitalization of 30 days also gets covered under covid kavach insurance scheme.
Comorbidities is also covered, If Pre-Pre Existing Diseases gets affected in the time of infection of COVID 19, it will also cover it.
Sum assured is available from ₹50 thousand to upto ₹5 lakhs. It also covers hospital cash expenses which is 0.5 % of the sum insured, for getting this benefit , the premium of insurance will also increase a little bit.
The age group of 18 to 65 years can get benefitted by this insurance policy
COVID Rakshak is a Benifit based covid policy, if the insurer gets affected by covid 19, He will get the lump sum amount of the sum insured.
Jitna ka insurance hoga …utna pura ek baar me mil jyega
In this cover Minimum 3 days of hospitalization is necessary to get benefitted from this scheme.
The sum insured starts from ₹50 thousand & goes upto ₹2.5 Lakhs.
Both the insurance policy comes with the duration of 3.5 Months (105 days), 6.5 Months (195 Days) , 9.5 months (285 days), hence 15 days of the waiting period is allocated in Both the scheme.
The terms of both the policy had decided by the government and not by any insurance companies, COVID Kavach policy is mandatorily for all the Insurance companies to bring on its platform. The insurance premium is to be decided by the insurance companies and not by the government. The age group of 18 to 65 years can get benefitted from this insurance policy
Which policy you should buy Covid rakshak or covid Kavach!
As mentioned Covid kavach is an indemnity based scheme, you wil get the amount that you consumed up to the full sum insured, whereas Covid Rakshak is lumpsum based scheme in which you will directly get the full sum insured after 3 days of hospitalization.
Kavach covers home hospitalization feature while rakshak does not cover it, in the time when all the hospitals in fully occupied, you should take Coid kavach policy, as you can get the benefits of home hospitalization.
You can also get Insured in both the scheme, Covid rakshak for lumpsum based support and Covid kavach for home hospitalization, but covid Rakshak is limited up to only 2.5 Lakhs
Both the scheme discounts 5% for health care workers in Premium.
What if you have Health insurance!
The majority of the health insurance policies covers covid 19. You can take Covid rakshak policy as a subsidiary policy as whenever you got infected you will get a lumpsum amount of the sum insured and your primary health insurance will cover it.