The insurance regulator has designed two standardised Covid-19 health insurance policies which all non-life and health insurance companies have been told to mandatorily offer from July 10. One is a regular indemnity policy covering the disease with the tenure ranging from 3.5 months to 9.5 months, and the other is an optional standard benefit cover, which pays out a fixed amount. The indemnity policy has been named Corona Kavach by the regulator and every insurance company has to follow the same nomenclature. The standard benefit policy is called Corona Rakshak. All non-life companies have been asked to start selling both these policies by July 10, 2020. The sum insured under the policy ranges from Rs 50,000 to Rs 5 lakh. The regulator has asked insurance companies to ensure that the premium is kept affordable. There is also a 5% discount for healthcare workers.