Mumbai, 15th July, 2020: Reliance General Insurance, a 100% subsidiary of Reliance Capital, has announced the launch of Corona Kavach and Corona Rakshak insurance policies. The two COVID-based standard health policies have been designed in order to insure public health needs in the COVID-era. Corona Kavach is indemnity-based, while Corona Rakshak is a benefit-based health policy. Both policies are available in tenure options of three and a half months (105 days), six and a half months (195 days,) and nine and a half months (285 days).
With the evolving number of COVID-19 cases in India every day, India has officially become the third-worst affected country in the world. Corona Kavach policy is available on individual and family floater basis, offering a base cover on indemnity basis and an optional cover on benefit basis. The sum assured ranges from ₹50,000 to ₹5 lakh with a waiting period of just 15 days.
Corona Kavach will cover, COVID-19 hospitalisation expenses, home care treatment expenses, all medical expenses incurred on hospitalisation under AYUSH benefit. Followed by pre & post hospitalisation expenses. Corona Rakshak, on the other hand offers a lump sum benefit equal to 100% of the sum insured – between INR 50,000 and 2,50,000, payable on a positive diagnosis from an authorized testing centre, and only on hospitalization for a minimum continuous period of 72 hours. The age limit for availing the policy is 18-65 years.
Speaking on the announcement, Rakesh Jain, ED & CEO, Reliance General Insurance said, “We completely endorse and stand by IRDAI’s call-to-action for the standard indemnity & benefit-based Corona Standard Health insurance policies. Both the policies complement each other as it understands the need of the market. Corona Rakshak and Corona Kavach have been designed to not only protect our health in this war against the pandemic, but also remove barriers in access and speedy claims in this goal of reducing the spread of the virus.”
This policy will be sold through a 40000+ strong agency network backed with robust digital distribution support.
About Reliance General Insurance
Reliance General Insurance, a subsidiary of Reliance Capital, is one of the leading private sector general insurance companies of India.
The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and Home Insurance, and offers customized solutions to meet the protection needs of each customer.
Reliance General Insurance offers has a wide network of more than 40,000 intermediaries across 136 branch offices across India for offering its products and services to retail, corporates and SME clients.