Arogya Sanjeevani Health Insurance Policy To Cover Covid 19 Hospitalization

The insurance regulator IRDAI in order to ease the hassle in selecting relevant health insurance, in January this year asked all general and health insurers to offer a standard health plan called Arogya Sanjeevani from April 1, 2020. And after the outbreak of Covid 19 infection, the regulator has clarified that the standard plan on offer by all 29 health or general insurance companies will also cover hospitalization due to Covid 19.

On April 1, IRDAI in a press release said it has approved the Arogya Sanjeevani plan for all 29 insurers. Further, companies' can price the product based on their own discretion. The cost of premium for per lakh of coverage is about Rs. 1000.

The policy offers a maximum coverage or sum insured value of up to Rs. 5 lakh and so for a total coverage of Rs. 5 lakh, the premium would go up to Rs. 5000. Nonetheless some of the companies are even pricing the plan over and above Rs. 1000.

Also, IRDAI added that all existing mediclaim policies in the country would cover Covid-19 hospitalisation. Furthermore, old policies of general insurers which exclude epidemic from their scope will too cover Covid 19 treatment as per the instructions of the regulator.
Media reports suggest that Covid 19 treatment in private hospitals resulted in expenses as high as Rs. 15 lakh.

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