ICICI Lombard Corona Rakshak Health Insurance
Cashless Approval TAT | 2 hr Cashless Claim Processing |
Claim Settlement Ratio | 99.70% |
Network Hospitals | 7,500+ |
Pre-existing Disease Waiting Period | 2 year |
Special Benefits | Anywhere Cashless |
Starting Premium for Rs. 5 lakh SI | Rs. 581/month |
About ICICI Lombard Corona Rakshak Health Insurance
ICICI Lombard Corona Rakshak Policy is a benefit-based medical insurance policy that offers you the much needed cover during the coronavirus outbreak. It is an affordable health insurance policy that can be purchased on an individual basis by people aged between 18 years and 65 years. If covered under this policy, then you can enjoy a lump sum benefit equal to 100% of the sum insured on positive diagnosis of COVID-19, requiring hospitalization for a minimum continuous period of 72 hours. But you will be able to avail the policy benefit only if the positive diagnosis takes place at a government authorized diagnostic centre. You can purchase the policy for a sum insured option ranging between Rs. 50,000 and Rs. 2.5 lakh (in multiples of Rs. 50,000).
ICICI Lombard Corona Rakshak Policy is a short term policy available for 3.5 months (105 days), 6.5 months (195), and 9.5 months (285 days). To avail benefits under this policy, you will be required to complete a waiting period of 15 days which shall be calculated from the date of commencement of the policy. Note that once the benefits have been provided, the policy shall be terminated. But you will be happy to know that the policy does not come with any deductible or co-payment clause. However, you cannot renew the policy as it does not come with a lifetime renewability feature too.
Also read: COVID 19 Insurance
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Key Inclusions and Exclusions of the Plan
What's Included
- Lump sum of 100% of the sum insured provided on positive diagnosis of COVID-19 if it requires hospitalisation of at least 72 hours
- Covers people between 18 years and 65 years of age
- Sum insured options starting from Rs. 50,000 going up to Rs. 2.5 lakh
- Policy terms of 3.5 months, 6.5 months, and 9.5 months respectively
- Offers coverage on individual sum insured basis
What's Not Included
- Any treatment that is not related to COVID-19 is not covered under the policy
- Expenses incurred on admission solely for evaluation or investigation purpose
- Any treatment related to COVID-a9 manifested before policy start date
- Any expenses incurred on treatment during 15 days waiting period
- Testing done at a diagnostic center that is not authorized by the government
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FAQs on Corona Rakshak Policy Health Insurance Plan
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Can I avail tax benefits on the premium paid for ICICI Lombard Corona Rakshak Policy?
Yes. You can avail tax benefits on the premium paid for ICICI Lombard Corona Rakshak Policy under Section 80D of the Income Tax Act, 1961.
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What is the coverage benefit that I can enjoy under ICICI Lombard Corona Rakshak Policy?
ICICI Lombard Corona Rakshak Policy gives you a lump sum amount equal to 100% of the sum insured on a positive diagnosis of COVID-19 and if it requires hospitalisation of a minimum of 72 hours.
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What is the age criteria for ICICI Lombard Corona Rakshak Policy?
ICICI Lombard Corona Rakshak Policy can be availed by people aged between 18 years and 65 years.
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What are the policy terms available under ICICI Lombard Corona Rakshak Policy?
ICICI Lombard Corona Rakshak Policy can be purchased for policy terms of 3.5 months (105 days), 6.5 months (195 days), and 9.5 months (285 days) respectively.