INSURANCE
Irdai allows health insurers to offer sum insured above Rs 5 lakh under ‘Arogya Sanjeevani Policy’
Jul-08-2020

With an aim to facilitate the general public, the Insurance Regulatory and Development Authority of India (Irdai) has modified the norms of ‘Arogya Sanjeevani Policy’ by allowing health insurers to offer minimum sum insured of less than Rs 1 lakh and maximum of greater than Rs 5 lakh.

As per the guidelines on ‘Standard Individual Health Insurance Product’, general and health insurers were allowed to offer sum insured options ranging from minimum Rs 1 lakh to maximum of Rs 5 lakh (in the multiples of Rs 50,000) for Arogya Sanjeevani Policy.

The regulator further said insurers can launch the modified policy with immediate effect. The popular Arogya Sanjeevani Policy covers hospitalisation, pre- and post-hospitalisation, AYUSH treatment, and cataract treatment. The policy is a standardised insurance product offering to take care of the basic requirements of policyholders.

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