Covid standard benefit based health policy
Sum Insured : Up To ₹ 2.5 lacs
Covid standard benefit based health policy
Best suited for
Individual
Multi Individual
Key Benefits
Lump sum Benefit
All India Coverage
Affordable premium
No PPMC required
Sum Insured starting from ₹ 50000
Launch Date: 14-08-2020
SAFEGUARD AGAINST CORONAVIRUS WITH COVID STANDARD BENEFIT BASED HEALTH POLICY
Coronavirus or Covid-19 has affected millions of people worldwide and India is not an exception. It’s very normal to be worried about yourself and your loved ones in these trying times. In such a situation when there are uncertainty and probable health risks, having a health insurance is an ideal solution to deal with any medical emergency. Covid Standard Benefit Based Health Policy provides lump sum payment to cover treatment costs of Coronavirus in case infected with Covid-19.
WHAT IS CORONA RAKSHAK POLICY?
Corona Rakshak Policy, ManipalCigna also known as Covid standard benefit based health policy is developed by IRDAI and made available by ManipalCigna Health Insurance Company. It is designed to provide lump sum benefit equal to 100% of the Sum Insured on positive diagnosis of Covid, requiring hospitalisation for a minimum continuous period of 72 hours. The positive diagnosis of Covid shall be from a government authorised diagnostic centre.
SUM INSURED UPTO ₹ 2.5 LACS
This plan comes with choice of multiple sum insured options starting from ₹ 50,000 to ₹ 2.5 lacs (in multiples of 50,000).
LUMPSUM INDIVIDUAL COVERAGE
The policy provides individual coverage, which pays lump-sum amount upon testing positive and requiring hospitalization.
ALL INDIA COVERAGE
The policy provides coverage within India.
TAX BENEFIT
Premium paid under the policy shall be eligible for Income Tax deduction as per the prevailing regulations and tax laws. Tax benefits are subject to change in the tax laws, please consult your tax advisor for more details.
Basic Cover:
The policy provides lump sum benefit equal to 100% of the Sum Insured on positive diagnosis of Covid, requiring hospitalisation for a minimum continuous period of 72 hours. The positive diagnosis of Covid shall be from a government authorised diagnostic centre.
First 15 days Waiting Period
Expenses related to the treatment of Covid within 15 days from the first policy commencement date will not be covered.
Renewal
Renewal available, subject to the underwriting policy of the Company.
What’s covered
- The policy provides a coverage for following: The policy provide lump sum benefit equal to 100% of the Sum Insured on positive diagnosis of Covid, requiring hospitalisation for a minimum continuous period of 72 hours. The positive diagnosis of Covid shall be from a government authorised diagnostic centre.
What’s not covered
- We will not pay any claims arising out of or attributable to any of the following:
• Investigation & Evaluation
i. Expenses related to any admission primarily for diagnostics and
evaluation purposes.
ii. Any diagnostic expenses which are not related or not incidental to the
current diagnosis and treatment
• Any diagnosis which is not related and not incidental to COVID is
not covered in this Policy
• Testing done at a Diagnostic centre which is not authorized by the
Government shall not be recognized under this Policy
• Any claim with respect to COVID manifested prior to commencement
date of this policy or during the waiting period
• Cover under this Policy shall cease if the Insured Person travels to any
country placed under travel restriction by the Government of India
Above List is only indicative and not exhaustive. For complete details on Eligibility, Coverages, Benefits, Terms, Condition and Exclusions please refer Policy Wordings and Prospectus
Minimum Entry Age
18 Years
Maximum Entry Age
65 Years
Policy Term
3 ½ months (105 days), 6 ½ months (195 days), 9 ½ months (285 days)
Cover Type
Individual
Relationships Covered
Self, spouse, son, daughter, parents & parents in law.
Premium
Single payment
Got Questions?
What are the details to be provided at the time of intimation of claim?
The following details are to be provided to the company’s at the tine of intimation of Claim: Policy number, Name of policy, Name of the insured person in whose relation the Claim is being lodged. Nature of illness / injury. Name and address of the attending Medical Practitioner and hospital. Date of Admission and any other information as requested by Us.
Corona Rakshak Policy ManipalCigna
Corona Rakshak Policy
Corona Rakshak Policy is a Covid standard benefit-based health policy developed by IRDAI and made available by ManipalCigna. The policy offers insurance cover for coronavirus. It provides a lump sum benefit of 100% of the Sum Insured on a positive diagnosis of Covid. The payout requires a minimum continuous hospitalisation for 72 hours. Also, the positive diagnosis of Covid must be from a government-authorised diagnostic centre.
The Corona Rakshak health insurance policy provides individual coverage that pays a lump sum amount upon testing positive and requiring hospitalisation. The policy terminates once 100% of the sum insured is paid. The policy is only available on an individual basis. It does not have a floater option.
The Corona Rakshak policy is the best health insurance plan for you if your hospitalisation can impact your financial situation. The policy acts as an income replacement plan. The product is standard across insurance companies, but the premium could vary.
Why should you buy the Corona Rakshak Policy?
Having one best health insurance plan is an ideal solution against any medical emergency. Covid standard benefit-based health policy or Corona Rakshak policy provides lump sum payment to cover treatment costs of Coronavirus.
Buying a standard best health insurance plan gives protection against a wide range of illnesses, including Coronavirus. Then why should one buy the Corona Rakshak policy?
You can consider investing in the fixed benefit corona-specific health insurance plan for many reasons. A benefit-based plan offers you a lump sum of 100% of the Sum Insured. It can help you cover expenses for PPE kits and other consumables used during the Covid-19 treatment. Your base health insurance policy might not cover the cost for such consumables. Again, the fixed-benefit payout can also take care of incidental expenses.
How to Buy Corona Rakshak Policy?
You can follow the following steps to buy Corona Rakshak policy:
Step 1: Thoroughly understand the product brochure, exclusions, policy benefits, and premium details. Discuss the same with our advisor or company representative before buying the policy.
Step 2: After understanding the policy’s benefits, fill up the Proposal Form with the prospective Insured Persons’ details. Provide medical information as accurately as possible.
Step 3: Submit the Proposal Form and required documents along with the premium.
Step 4: Based on the information received, we will process your proposal for insurance. A policy kit containing the Benefit Schedule, Policy Terms, and associated documents will be sent to you in a digital or physical form.
You can contact our advisor at any of our branches, the list of which is available on our website. You can even call our Toll free number—1800-102-4464 for details.
Who Should Buy Corona Rakshak Policy?
The Corona Rakshak policy is a defined benefit plan that acts as a means for income replacement. You should buy this insurance cover for coronavirus if you have a basic policy with a lower sum insured or room rent limits.
If you have a health insurance policy in place and think that a positive Covid-19 diagnosis could result in loss of income, you should buy the Corona Rakshak policy. Any deduction that happens on the claim can be supplemented with the benefit-based policy. Also, PPEs and other consumables are covered with the Corona Rakshak policy.
FAQs about Corona Rakshak Policy
Q.1) What is Corona Rakshak Policy, ManipalCigna?
Corona Rakshak Policy is developed by IRDAI and made available by ManipalCigna Health Insurance Company. It is designed to provide lump sum benefit equal to 100% of the Sum Insured on positive diagnosis of Covid, requiring hospitalisation for a minimum continuous period of 72 hours. The positive diagnosis of Covid shall be from a government authorised diagnostic centre.
Q.2) Why to buy Corona Rakshak policy, ManipalCigna?
A person can consider investing in corona-specific plan for fixed benefits. Such plan helps you to get additional coverage for Personal Protective Equipment (PPE) kits and other consumables required during the treatment of Covid-19, which your base policy may or may not cover. The fixed benefit payout also takes care of incidental expenses. However, for maximum value a comprehensive health insurance plan that protects against a wide range of illnesses including coronavirus, will be more suitable.
Q.3) How can I buy Corona Rakshak policy, ManipalCigna?
You can contact our sales advisor at any of our branches (list available on website https://www.manipalcigna.com) or can call our Toll free customer care number 1800-102-4462 for details..
Q.4) Is there any age limit to buy Corona Rakshak Policy, ManipalCigna?
Policy can be availed by persons between the age of 18 years and 65 years (inclusive of both ages). Proposer with higher age can obtain policy for adult members of the family, without covering self.
Q.5) What type of policies are available under this product?
The Policy can be availed on Individual basis only.
Q.6) What are the Sum Insured options available?
The Sum Insured options available under this policy are Rs. 50000, 1 lac, 1.5 lacs, 2 lacs and 2.5 lacs.
Q.7) What are the coverages available under Corona Rakshak policy?
The policy provides individual coverage which pays lump-sum amount upon testing positive and requiring hospitalization.
Q.8) Will I get tax benefit under Corona Rakshak Policy?
One can avail tax benefit under sec.80 D as per IT Act. This section is subject to revision in tax laws.