ManipalCigna Corona Rakshak Policy Health Insurance

ManipalCigna Corona Rakshak Policy, also known as Covid standard benefit health policy, is developed by IRDAI and provides a lump sum benefit equal to 100% of the Sum Insured on the positive diagnosis of COVID-19. A government-authorized diagnostic center shall confirm the positive diagnosis of COVID-19.

It is a benefit-based policy, available on an individual basis, and offers a range of Sum insured to choose from -Rs 50,000 to Rs 2.5 lakhs. It is a short-term policy with different policy terms like 3.5 months (105 days), 6.5 months (195 days), and 9.5 months (285 days).

Eligibility criteria for ManipalCigna Corona Rakshak Policy Health Insurance

Minimum entry age  18 years
Maximum entry age 65 years
Sum assured options Rs. 50,000 to Rs. 2.5 Lakh, in multiples of Rs. 50,000
Policy term 3.5 months, 6.5 months, and 9.5 months
Premium payment mode Single premium payment mode
Relationships covered Self, Legally wedded spouse, Son, Daughter, Parents, Parents-in-law

Key highlights of ManipalCigna Corona Rakshak Policy Health Insurance

  • A pre-insurance medical check-up is not required irrespective of the insured’s age and Sum insured.
  • The Free-look period is not applicable under this policy.
  • An initial waiting period of 15 days is applicable from the starting date of the policy.
  • Potability and migration are not applicable in this policy.
  • Tax benefits are applicable under section 80D of the Income Tax Act.
  • The policy offers coverage across all parts of the country.
  • It is available at affordable premiums.
  • Renewal is available, subject to the underwriting policy of the Company.

 

Inclusions in ManipalCigna Corona Rakshak Policy Health Insurance

  • ManipalCigna Corona Rakshak Policy Health Insurance offers a lump sum benefit equal to 100% of the Sum insured, payable on the positive diagnosis of COVID-19, which requires hospitalization for a minimum continuous period of 72 hours.

 

Exclusions in ManipalCigna Corona Rakshak Policy Health Insurance

The insurer will not be liable to make any payment in respect of any expenses incurred with respect to the following:

  • Investigation & Evaluation
  1. Expenses related to admission primarily for evaluation and diagnostics purposes.
  2. Any diagnostic expenses not related or not incidental to the current diagnosis and treatment.
  • Any diagnosis not related and not incidental to COVID-19 is not covered in this policy.
  • Testing done at a Diagnostic center that the Government does not authorize shall not be recognized under this policy.
  • Any claim concerning COVID-19 manifested during the waiting period or before the commencement date of this policy.
  • Cover under this policy shall cease if the insured travel to any country placed under travel restriction by the Government of India.
  • The insurer will not cover the expenses related to the COVID-19 treatment within 15 days from the first policy commencement date.

 

FAQs:

Why should you opt for the Corona Rakshak Policy?

A health insurance policy provides protection against any medical emergency, illnesses including Coronavirus. Corona Rakshak Policy or Covid standard benefit-based health policy provides lump sum payment to cover treatment costs of Coronavirus. This kind of corona-specific health insurance plan offers you a lump sum of 100% of the Sum Insured and also covers expenses for PPE kits and other consumables used during the COVID-19 treatment. The basic health insurance policy might not cover the cost for such consumables, and the fixed-benefit payout can take care of incidental expenses.

Who can all buy ManipalCigna, Corona Rakshak Policy?

ManipalCigna, Corona Rakshak Policy can be purchased by people between the age of 18 years and 65 years (inclusive of both ages). A proposer with higher age can obtain a policy for adult members of the family, without covering themselves.

What are the various Sum Insured options available?

The different Sum Insured options available under this policy are Rs 50000, Rs 1 lakh, Rs 1.5 lakhs, Rs 2 lakhs, and Rs 2.5 lakhs.

What are the coverages available under Corona Rakshak’s policy?

The policy provides individual coverage wherein it pays a lump-sum amount upon testing positive and requiring hospitalization.

Is tax benefit applicable under Corona Rakshak Policy?

Yes, ManipalCigna, Corona Rakshak Policy is eligible for tax benefit under sec.80 D as per the Income Tax Act. This section is subject to revision in tax laws.

What is the waiting period under Corona Rakshak Policy?

ManipalCigna Corona Rakshak Policy offers an initial waiting period of 15 days, calculated from the date of the policy commencement.

Is a pre-insurance medical examination test required to apply for ManipalCigna Corona Rakshak Policy?

No, there is no requirement of a pre-insurance medical examination test, irrespective of the Sum insured and age, to apply for ManipalCigna Corona Rakshak Policy.

Does this policy offer any discount?

No, there is no discount applicable under this policy.

Is there a limit on how long a person can stay in the hospital?

No, there is no such restriction on the number of days to stay in the hospital. Coverage is the available maximum up to the Sum Insured.

Does this policy offer worldwide coverage?

Coverage under this policy shall cease if the Insured Person travels to any country placed under travel restriction by the Government of India. All claims under the policy shall be payable in India and Indian currency only.

Are medical expenses covered if a person gets hospitalized in a private hospital?

Yes, hospital means any institution established for in-patient care and daycare treatment of disease/ injuries and which has been registered as a hospital with the local authorities under the Clinical Establishments (Registration and Regulation) Act, 2010 or under the enactments specified under Schedule of Section 56(1) of the said Act, OR complies with minimum criteria as specified in Policy Terms and Conditions.

The policy provides a lump sum benefit equal to 100% of the Sum Insured on a positive diagnosis of Covid, requiring hospitalization for a minimum continuous period of 72 hours. Under this policy, any other set-up designated by the Government as a hospital for the treatment of Covid shall also be considered as a hospital.

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