Personal Finance Should you renew Corona Kavach, Corona Rakshak insurance policies or buy a new plan? Updated : October 19, 2020 07:26 PM IST The Insurance Regulatory Authority of India (IRDAI) has decided to give consumers the option to renew the Corona Kavach and Corona Rakshak policies. While Corona Kavach is a standard indemnity-based COVID-19 policy, Corona Rakshak is a fixed benefit plan. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.