covid 19 pandemic, the regulator has now extended the validity for sale and renewal of short term covid specific health insurance policies.
The policies issued under these guidelines will now remain valid till 30 September 2021.The policies are commonly known as Corona Kavach and Corona Rakshak policies.
Amongst these short-term covid specific policies, the Corona Kavach policy is an indemnity-based product while Corona Rakshak is a benefit-based product.
Besides, the policy wordings of these covid specific policies are uniform across all insurers.The Insurance Regulatory and Development Authority of India (Irdai), issued a circular on 24 March said, "Corona Kavach Policies offered as per guidelines on Covid Standard Indemnity based Health.