What you need to know about Arogya Sanjeevani health insurance policy

Launched by Irdai, the plan's main objective is to make insurance more accessible, affordable and less confusing for policy buyers

The Insurance Regulatory and Development Authority of India (Irdai) launched the Arogya Sanjeevani Health Insurance Policy on April 1, 2020. The main objective of the plan was to make insurance more accessible, affordable and less confusing for policy buyers. Irdai allowed several insurers to launch this policy on July 7, 2020.

What is the importance of Arogya Sanjeevani Health Insurance Policy?

The policy aims to standardise health insurance in India. Policy documents and their wordings are, more often than not, confusing for the customers. Irdai wanted all companies to offer plans that cover basic health needs and have common policy wordings that are less complicated. The policy assumes more importance now during the Covid-19 pandemic, as many are likely to require professional medical care and attention.

What is the amount of coverage under the policy?

The coverage under this policy ranges between Rs 3 lakh and Rs 5 lakh.

What expenses does the plan cover?

The insurance policy covers hospitalisation expenses, both pre- and post-, that occur because of an illness or accident. Treatment for the novel coronavirus disease also falls within the ambit of the scheme, and any expenses arising therefrom will be covered by the insurance policy. Treatment under AYUSH for patients admitted to hospital are also covered.

Room rent is covered up to a certain extent. ICU and ICCU charges, ambulance services, plastic surgery or dental treatment caused by an injury, expenses on cataract surgery (to some extent), and new-age treatments such as stem cell therapy, sinuplasty, and immunotherapy are also covered.

What is the entry level for purchase of Arogya Sanjeevani Health Insurance Policy?

One can enter the policy between the ages of 18 and 65 years, and the policy comes with lifelong renewability.

What are some benefits of purchasing the Arogya Sanjeevani policy?

The policy, which is based on standard terms, has been rolled out by Irdai, and therefore, premiums are low when compared to the rest of the market. The plan comes with a co-payment of just around 5 per cent.

Individual and family floater policies

An individual health policy covers each individual member of the family separately, whereas a family floater is essentially a single policy for the entire family. Both are available under this scheme.