IRDAI allows insurers to offer, renew Covid-specific health policies till March 2022

The insurance regulator has allowed insurers to offer and renew the Covid-19 specific health policies till March 31, 2022. Corona Kavach and Corona Rakshak are Covid specific health policies offered by insurers.

Moneycontrol News

September 13, 2021 / 17:52 IST

Insurance Regulatory and Development Authority of India (IRDAI) on September 13 extended the time line for insurers to offer Covid-related health policies till March 31, 2022.

"Corona Kavach" and "Corona Rakshak" are two short term Covid-specific health policies. Corona Kavach is an indemnity-based policy where sum insured range is from Rs 50,000 to Rs 250,000 with a hospitalisation period of 24 hours.

Corona Rakshak is a standard benefit plan offering sum insured of Rs 50,000 to Rs 5,00,000 for hospitalisation of at least 72 hours post-diagnosing coronavirus.

All insurers, except Agriculture Insurance Company of India (AIC) and ECGC are allowed to offer Covid specific health policies.

Moneycontrol News

first published: Sep 13, 2021 05:51 pm

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