Mashak Rakshak policy: Should you buy?

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Vector-borne diseases are one of the most common and deadly diseases across the country. According to World Health Organization (WHO) data, malaria causes more than four lakh deaths every year across the world. Moreover, the major vector-borne diseases constitute around 17% of all infectious diseases. In such a situation, Mashak Rakshak policy can come to your rescue. This policy is different from other health insurance. Mashak Rakshak, introduced by Insurance Regulatory and Development Authority of India, is a standard health insurance policy designed for vector-borne diseases. As this is a standard plan, the terms and conditions will remain the same across insurers.

Hospitalisation benefits

Mashak Rakshak policy is a benefit based health insurance policy. Policyholders will get a lump sum money up to 100% of the sum insured to deal with the medical expenses for treatment of vector borne diseases like dengue fever, malaria, filaria, kala-azar, chikungunya, Japanese encephalitis, zika virus. To avail these benefits the policyholder must be hospitalised for a minimum of 72 hours.

Diagnosis cover

The insurer will pay 2% of the sum insured on a positive diagnosis of every covered vector-borne disease. One can avail of this benefit only once in each of the policy years.

Sum assured

The assured sum of money under this cover ranges from Rs 10,000 to Rs 5 Lakh. The tenure of policy one year. But it can be renewed every year. Mashak Rakshak policy can be bought for both individuals and families.

Premium

The basis of premium is dependent on the sum assured and the type of policy. For a family floater Mashk Rakshak plan, you have to pay a premium of up to Rs 3,000 annually, while an individual can get such a plan for a premium of Rs 1,000. Older persons more than 65 years old can not buy this policy.

Exclusions

There are some general exclusions under Mashak Rakshak policy. As it is a disease-specific plan, no claims are made for diseases apart from the vector borne diseases.

Expenses for OPD treatment, daycare charges, domiciliary hospitalisation, etc, are not covered.

Expenses related to any admission primarily for diagnostics and evaluation purposes are also excluded under Mashak Rakshak policy.

Policyholders will not get any cover for hospitalisation for treatment other than allopathy.