Reliance Corona Rakshak Policy

In the past, COVID was a significant threat to people's health and financial security. You see, if you contracted this virus and went to your doctor for treatment, it was common knowledge that you'd have to stay in the hospital for at least two weeks so that your body could fight off the virus. It wasn't cheap! And then, if you did get cured but didn't have medical insurance – or couldn't afford the price of paying for treatment without insurance – things could get pretty desperate. Corona Rakshak Policy is one way of avoiding that financial rush.

The Corona Rakshak plan is a fixed-benefit health insurance policy which provides an amount of up to INR 2.5 lakhs to the insured individual if he or she is diagnosed with the coronavirus and hospitalised for 72 hours or more. This plan is designed for short-terms mainly to cover the financial expenses of COVID treatment which is usually high. The plan is provided by multiple insurers all over the nation. It can be purchased online as well.

This article will offer a deep dive into the Corona Rakshak Policy offered by Reliance Health Insurance.

As one of the market's major health insurance providers, Reliance Health insurance assists its consumers by supporting medical expenditures for hospitalisation owing to COVID. Reliance Corona Rakshak Policy can be described as a single-premium medical insurance plan that provides coverage for a positive COVID-19 diagnostic. If the insured individual is hospitalised for a minimum of 72 hours owing to COVID-19 treatment made at a government-recognized health clinic, the insurance pays out the total sum insured in amount lumpsum fashion.

This COVID policy from Reliance General Insurance includes:

• The applicant needs to be within the age range of 18 years and 65 years when applying
• The policy matures at 66 years of age
• The sum insured ranges from INR 50,000 to a limit of INR 2,50,000
• The policy term options are 105 days, 195 days, and 285 days
• The premium needs to be paid in a single transaction
• Pre-policy medical checkup is not necessary
• There is a waiting period of 15 days from the policy starting date.

The Corona Rakshak Policy offers a benefit amounting to the total sum insured due to hospitalisation for COVID treatment for 72 hours continuously. This benefit is provided by this policy and can be used by the insured individual in multiple ways as per their requirement and the coverage expires after that. The coverage of this plan helps to include the small gaps in your base health insurance plan which includes room rents over the applicable limits, the PPE kit costs as well as other things.

Compare & Buy Health Insurance Plans

Get upto 60% discount

Compare Plans

The policy exclusions include:

• Hospitalisation for 71 hours or less
• Mild COVID symptom treatments
• Initial 15-day COVID hospitalisation
• Travelling to a government-restricted location
• Plan discounts
• Plan loans
• Grace tenures
• Claims arising due to maturity, death or surrender.
• Treatment from a non-government-recognised healthcare facility
• Non-COVID diagnosis

If the insured individual is COVID diagnosed after the waiting term is over, the first step of claim filing would be to inform the insurance provider as soon as possible. All required paperwork needs to be submitted to the insurance company within a month of hospital discharge. The insurance provider will go through the reports and provide you with an approval or denial of the claim. If your claim is approved, the company will send you the claim amount.

Here is a list of the required claim documents:

• Duly filled and signed claim form
• A copy of the insured’s passport with all pages.
• Patient’s photo ID
• Prescription of the physician
• Summary of the hospital discharge which includes a breakdown of the patient medical record along with all required details
• Government-recognised healthcare centre issued COVID report
• Insured’s bank account details with a cancelled cheque
• Proposer’s KYC details (If the claim amount is over INR 1 lakh)
• Legal heir certificates (if needed)
• Other necessary paperwork demanded by the insurance provider

In order to purchase COVID health insurance policies by Reliance, you need to visit the company’s website, go through their eligibility requirements and then apply for it if you meet the needs.

Alternatively, you can use the Coverfox app for the same. Here is how you can do it:

• Install the Coverfox application.
• Input your basic details like age, gender, name and mobile number
• Input your city and pin code
• Compare different Reliance health insurance plans
• Choose your preferred plan and purchase it online
• The policy details will be sent to you via email.

Given the pandemic situation we experienced a few months back, Corona Rakshak Policy should be one of the main requirements of everyone right now. The policy offers short-term financial support which can prove to be a great help after a positive diagnosis of COVID.

For example, most health insurance plans put a limit on their room rent. However, in COVID cases where hygiene and isolation need to be maintained, the room rent often crosses the limit provided. This is exactly where the lumpsum payment from this fixed-benefit plan can help. It also helps cover any additional expenses regarding the treatment and the patient’s healthcare in general.

In short, owning a Corona Rakshak policy is a smart move if you are looking to protect yourself and your family from the financial costs incurred by hospitalization. Most insurance providers can set up a health insurance policy for their patients, so you should talk with them about it if the time comes. But the thing is, your standard health insurance plan is limited in its scope! It may cover some treatments, but not others. It may not have enough coverage for the amount of time you'll need to stay in the hospital. Therefore, a Reliance Corona Rakshak Policy makes perfect sense.