The Insurance Regulatory and Development Authority of India (IRDAI) has provided guidelines for the health insurance providers to implement Arogya Sanjeevani Insurance Policy. The regulator had earlier made it mandatory for the insurance providers to frame a policy to provide basic coverage to at least 55% of Indian population.
About the policy
The “Arogya Sanjeevani Insurance Policy” guidelines was basically launched to cover the hospitalisation expenses of the COVID-19 patients. The policy is not brought by GoI rather instructed by GoI. So far policies of 29 health and insurance companies to cover COVID-19 have been approved by IRDAI.
Guidelines of the Policy
The cost of the premium shall cover between Rs 1000 and Rs 1 lakh. Interested customers shall opt for coverage up to Rs 5 lakhs. It is to be availed for citizens above the age of 18 years and up to the age of 65 years. The room rent shall also be covered under the policy. It has been capped at 2% of the sum.