Insta
‘Arogya Sanjeevani’ Insurance Policy, Existing Mediclaim Policies To Cover Covid-19 Hospitalisation Cost, Says IRDAI
Representative image of hospital (Manjunath Kiran/AFP/Getty Images)
Insurance Regulatory and Development Authority (IRDAI) in a press release on Wednesday (1 April) has said that the standard health insurance policy “Arogya Sanjeevani” for all 29 general/health insurance companies will now cover hospitalisation under Covid-19, reports Times of India.
The regulator further added in the circular that it has approved the Sanjeevani product for all 29 general/ health insurance companies.
It must be noted that the new standard health insurance policy, named Arogya Sanjeevani, was announced in January this year to provide a basic health cover between Rs 1 lakh and Rs 5 lakh. The purpose of this new policy, launched from 1 April 2020, is to clear the confusion among customers due to the existence of multiple insurance products launched by different insurance companies.
Under the scheme, the IRDAI also gives freedom to insurance companies to charge
the premium for the product. Currently, the cost of premium is roughly Rs 1,000 for every Rs 1 lakh of coverage.
IRDAI also added all current mediclaim policies in India will cover COVID-19 hospitalisation. Notably, the policy-documents of old schemes of general insurance companies exclude coverage of an epidemic. However, these policies will cover Covid-19, as per the instructions of the regulator.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
