The Insurance Regulatory and Development Authority of India on 24th July 2020 has allowed general and health insurers to offer the Arogya Sanjeevani Policy as a group insurance product.
The Insurers are allowed to set their own minimum and maximum sum limits under this group policy, subject to the board approved underwriting policy. The mandate of offering sum insured in multiples of Rs 50000 (Rupees fifty thousand only) is not insisted for the group product and they may determine the price keeping in view the cover proposed to be offered subject to complying with the norms specified in the IRDAI (Health Insurance) Regulations, 2016 and Guidelines notified thereunder.
The group policy is expected to provide protection to a large number of employees engaged in manufacturing, services, SMEs, MSMEs, logistics sector, and migrant workers, catering to their medical needs.
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