Correct, no contact until the receiving team touches the ball (or it goes 10 yards).
This may seem to give an advantage to the receiving team who could come forward and bait a kicking team player into contact, but this wouldn't be a very effective use of personnel.
The reason for this rule is that kicking teams were sending 2 or 3 players down to blast the would-be receivers. If they were waiting for the ball they were just sitting ducks to these hits.
I personally don't like the rule because it's hard to officiate, but it was the better option -- the others being outlawing onside kicks and even the occasional radical proposal to get rid of all kickoffs.