IRDAI To Allow Insurers To Offer, Renew Covid-Specific Health Policies Till This Date

The deadline for insurers to sell COVID-19-related health plans has been extended until March 31, 2022, according to the IRDAI. There are two COVID-19-specific health policies in the short term.

The 'Corona Kavach' insurance is an indemnity-based policy with an amount insured ranging from 50,000 to 2.5 lakh, whilst the 'Corona Rakshak' policy has a sum insured ranging from 50,000 to 5 lakh for hospitalisation for at least 72 hours after COVID-19 diagnosis.

All insurers are permitted to provide Covid-specific health plans, with the exception of the Agriculture Insurance Company of India (AIC) and the ECGC.