The Insurance Regulatory and Development Authority of India on 7th July 2020 has modified the norms of ‘Arogya Sanjeevani Policy’ by allowing health insurers to offer a minimum sum insured of less than Rs 1 lakh and a maximum of greater than Rs 5 lakh.
As per clause 7 of Section C of the guidelines on ‘Standard Individual Health Insurance Product’, general and health insurers were allowed to offer insured options ranging from minimum Rs 1 lakh to maximum of Rs 5 lakh for Arogya Sanjeevani Policy.
However, through this notification it has been modified by allowing to offer a minimum sum insured less than Rs 1 lakh and the maximum sum insured greater than Rs 5 lakh subject to the underwriting policy of the insurers. The sum insured options shall be offered in the multiples of Rs 50,000 only.
The Arogya Sanjeevani Policy covers hospitalization, pre- and post-hospitalization, AYUSH treatment, and cataract treatment.
Click here to read the notification.
