NEW DELHI : In a bid to lower confusion involved in the purchase of health insurance, the Insurance Regulatory and Development Authority of India (Irdai) in January this year mandated all health and general insurance companies to offer a standard product called the Arogya Sanjeevani policy starting 1st April 2020.
As many as 29 insurers are now offering this product which comes with a maximum sum insured of ₹5 lakh. Ever since the pandemic broke out in the country, insurers are seeing more traction for the purchase of health insurance policies.
Irdai in a circular dated 4 March said all health insurance policies will have to cover the cost of covid-19 treatment. The Arogya Sanjeevani policies too will cover the hospitalisation treatment