IRDAI Guidelines on Arogya Sanjeevani product

The Insurance Regulatory and Development Authority of India (IRDAI) has asked the general and health insurance companies on March 19, 2020 to mandatorily offer the sum insured in between rupees 50,000 to rupees 10 lakh under the standard health insurance product. This move was announced in order to enhance the coverage which are available under Arogya Sanjeevani product.


The IRDAI had also mandated all the general and health insurers to offer the standard individual health insurance product with the maximum sum insured up to rupees 5 lakh and minimum of rupees 1 lakh. This was done in order to reduce the confusion and encourage more people to buy health insurance.


The insurers have offered the sum insured to rupees 50,000 under the Arogya sanjeevani product with no upper limit because of rising covid-19 cases and healthcare costs. Most of the insurers were not offering the Arogya Sanjeevani policy above the maximum original limit of rupees 5 lakh. But the latest modification to the sum insured slabs of the product will make it compulsory for insurers to offer the sum up to rupees 10 lakh. This modification will come into effect from May 1, 2021. Insurance companies will be able to file the tables of premium rates for the revised sum assured in accordance with the guidelines of filing of minor modifications in individual insurance products. The regulators will retain the unique identification number (UIN) after the modifications.

Arogya Sanjeevani

Arogya Sanjeevani is the standard health insurance product which offers a medical coverage to families and individuals with respect to the basis hospitalization expenses. It also covers the Covid-19 treatment expanses. The product comes with a co-pay of 5 percent and sub-limit of 2 percent on the room rent. It also covers the room, boarding and nursing expenses up to 2% of the sum insured. It is subject to a maximum of rupees 5,000 in a day.


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