Hello friends, IRDA has taken a commendable step in this bad phase of Corona epidemic. IRDA has issued standard health based policy guidelines to all insurance companies for treatment of Covid19. Standard policy means that the coverage and terms and conditions of this policy will be as per the notification of IRDA. So today we will talk about the important things of IRDA’s Corona Rakshak health policy. IRDA’s Corona Rakshak health policy which will be launch before 10 July. IRDA’s Corona Rakshak is an standard Benefit based health insurance. It is a single premium policy. Here we have discussed all the key points and information regarding eligibilties,claim settlement and other benefits. So read the article to know about this health scheme.
IRDA’s Corona Rakshak health policy
So friends, first of all,let us tell you where you will get this policy. Friends You will find this policy in any life insurance company, health insurance company and general insurance company anywhere in India. All these from these sectors can sell this product. As per IRDA’s guidelines, whichever company will sell this product, they will have to name this product same. So if you buy this policy from any company, then the name of the company will be written after the name of that policy.
for example – Corona Rakshak Policy,LIC.
The terms and conditions of the policy will be the same whether you buy any policy from any company.
Age Eligibility :-
Those who are in the age group of 18 years to 65 years can buy this policy.i.e.
Minimum entry age is 18 years and maximum entry age is 65 years.
Minimum Sum assured in this policy is Rs 50,000 and maximum sum assured under this policy is Rs 2,50,000.
Under this policy,three policy period is available.
1) three and half month i.e. 105 days
2) six and half month i.e. 195 days
3) nine and half month i.e. 285 days. You can choose the policy period as per your convenience.
Premium paying mode is Single premium,that means you have to deposit a lump sum amount to buy this policy.
Claim settlement under two condition
Firstly,the person should be tested Corona Positive at any Government Authorized Diagnostic Center. And secondly, the person should be hospitalized for Minimum of more than 72 hours continuously.
After fulfilled of both these conditions, a lumpsum benefit equal to 100% shall be payable according to your chosen sum assured.
It is to be noted that this policy is not an reimbursement policy n which payments are made according to your hospital bills. But this actually a lumpsum benefit policy in which you are payable after the hospitalization period of 72 hours continuously.
The waiting period of this policy is 15 days, i.e. if you have corona after 15 days of taking the policy then you will get claim. But if corona occur within 15days of taking the policy,the company will not pay any claim. One important thing l,the premium of any insurance company will be on PAN India basis.
We have only talked about the key features in this article. We have provided its official circular below, please check once.
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