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his gives you flexibility to keep your finances on track so you can focus on recovery and on becoming mentally and physically well again.
No one can predict when and how the virus SARS-CoV2 will attack anyone of us. Hence, having an insurance cover is a must during these tough times of COVID-19 outbreak so that an appropriate protection is in place for you and your loved ones too.
Corona Rakshak Policy is a benefit based Covid product that offers lumpsum amount which you can use however you want. This gives you flexibility to keep your finances on track so you can focus on recovery and on becoming mentally and physically well again.
This product is designed by IRDAI and hence the coverage and features of the product are uniform across the market.
Features you'll appreciate
Coverage - The policy provides Covid Cover that offers lumpsum amount equal to 100% of the Sum Insured upon positive diagnosis of COVID, requiring hospitalization for a minimum continuous period of 72 hours. The positive diagnosis of COVID shall be from a government authorized diagnostic centre.
Sum Insured Options - You have the option to choose the sum insured from 50,000 to 2.5 Lacs in the multiples of 50,000.
Age Eligibility - Minimum age at entry under this Policy is 18 years and maximum age at entry shall be 65 years. Proposer with higher age can obtain policy for adult members of the family, without covering self.
Policy Period Option - Policy can be issued with any of the below term based on your choice
i. Three and half months (3.5 months) = 105 days
ii. Six and half months (6.5 months) = 195 days
iii. Nine and half months (9.5 months) = 285 days
Type of Policy - This policy can be issued on an Individual Sum Insured basis only
Geography - Policy covers for event within the territorial limits of India. All payments under the Policy will be made in Indian Rupees.
Waiting Period - We shall not be liable for any claim arising under the policy within 15 days from the first policy commencement date.
Premium - The Premium charged on the Policy will depend on the Tenure and Sum Insured. Premiums will be payable by Single premium mode only.
Risk Loading - We may apply risk loading on premium payable based on the information revealed in the Proposal Form and the current health status of the person.
The maximum risk loading for an individual shall not exceed 100%.
We will inform You about the applicable risk loading and issue the policy only when we receive your consent and applicable premium.
What are the Exclusions?
We shall not be liable to make any payment under the policy, in respect of any expenses incurred in connection with or in respect of:
1) 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
2) Any diagnosis which is not related and not incidental to COVID is not covered in this Policy
3) Testing done at a Diagnostic centre which is not authorized by the Government shall not be recognized under this Policy
4) Any claim with respect to COVID manifested prior to commencement date of this policy or during the waiting period.
5) Cover under this Policy shall cease if You travel to any country placed under travel restriction by the Government of India.
