Amid the second wave of the pandemic, insurance regulator IRDA has directed to double the cover amount of the Arogya Sanjeevani policy. Insurance companies will have to offer a policy covering up to Rs 10 lakh by 1 May.
Insurance experts say this is good news for those taking health insurance for the first time. He will now be able to get a larger cover under the Arogya Sanjeevani policy at a lower premium. Due to the terms of the policy being the same for all companies, the customers will not have any problem.
To reduce confusion and encourage more people to buy health insurance, the Insurance Regulatory and Development Authority of India (Irdai) had last year mandated all general and health insurers to offer a standard individual health insurance product with a maximum sum insured of up to ₹5 lakh and a minimum of ₹1 lakh.
Corona cover also included
The second wave of Corona in the country has caused chaos everywhere. In such a situation, you can protect your family and your family during this crisis by taking Arogya Sanjeevani policy. The Arogya Sanjeevani policy also includes a corona cover. That is, if you or your family is infected corona, then you can get treatment under this health insurance.
Policy purchase age
The regulator has set a minimum age of 18 years and a maximum age of 65 years to choose this standard health policy. The policy can be taken for family members apart from themselves including spouses, parents and in-laws, dependent children between 3 months to 25 years.
Easy premium payment option
Insurance experts say that with increased cover, the Arogya Sanjeevani policy has become more attractive. Insurers can easily buy this policy by paying a lower premium. He can pay the premium on an annual, half-yearly, quarterly, monthly basis. There is a grace period of 30 days for the annual premium payment mode and 15 days for others.
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Get cover
Hospitalization expenses
Expenditure on treatment of Ayush (Ayurveda, Yoga, Naturopathy)
up to 30 days in prehospitalization
60 days post-hospitalization
dental and plastic surgery only due to injury or any disease
Premium up to 50 percent cheaper
Insurance experts say that this policy is 20 to 50 percent cheaper than basic health insurance plans. In this, the cover is being given to many such diseases which are not present in the existing policies. It is a better health insurance option for the lower-middle-income group.
