Health Insurance can be confusing due to the numerous plans, varying premiums, exclusions, and complex terms. To address this, the Insurance Regulatory and Development Authority of India introduced the Arogya Sanjeevani Policy in April 2020. The policy aims to make Health Insurance more accessible, affordable, and understandable for every Indian citizen. Let us break down everything you need to know about this standardised Health Insurance product.
What is the Arogya Sanjeevani Policy?
The Arogya Sanjeevani Policy is a standard Health Insurance Plan mandated by the IRDAI and offered by all general and health insurers in India. It provides basic hospitalisation coverage for individuals and families at an affordable premium, with features and terms that are uniform across insurers.
Though insurers can brand the policy with their name, the core features, inclusions, exclusions, and policy wordings remain the same across all companies. This ensures transparency and makes it easier for consumers to compare and choose.
Key features of Arogya Sanjeevni Policy
- Sum Insured: Rs. 50,000 to Rs. 10 lakh
- Eligibility:
- Adults aged 18 to 65 years
- Children aged 3 months to 25 years if covered under a family floater
- Policy Type: Available as both individual and family floater
- Tenure: 1 year (renewable annually)
- No claim bonus: 5% increase in sum insured per claim-free year.
- Premium: Varies by sum insured, age, and insurer, but it is lower than most private plans
- Cashless treatment: Available at the insurer's network hospitals
What does it cover?
The Arogya Sanjeevani Policy offers essential coverage needed during medical emergencies. Here's a breakdown of the inclusions:
- Hospitalisation expenses
Covers expenses related to room rent, ICU charges, Doctor consultations, Nursing charges, medicines and operation theatre charges
- Pre- and post-hospitalisation
The period from 30 days before to 60 days after hospitalisation is covered.
- Daycare procedures
Covers modern treatments and procedures that don't require 24-hour hospitalisation.
- AYUSH coverage
Covers expenses incurred on Ayurveda, Yoga, Unani, Siddha, and Homoeopathy treatments if taken at a government-recognised hospital or institute.
Why choose Arogya Sanjeevani?
- No hidden clauses, no fine print confusion. Every insurer offers the same product with clear benefits.
- Premiums are significantly lower compared to most private Hospitalisation Plans.
- With a family floater, you can cover yourself, your spouse, your dependent children, and even your parents under one plan.
- Once purchased, the plan can be renewed lifelong, even after the age of 65.
Who should buy this policy?
- First-time Insurance buyers seeking basic protection.
- Young adults and nuclear families who want affordable family floater plans.
- Senior citizens or individuals with no group/employer Health Coverage.
- Low to middle-income individuals seeking IRDAI-regulated, standardised protection that avoids complex riders and high premiums.
Conclusion
In a market flooded with complex Insurance products, the Arogya Insurance can be ideal. It's a solid Health Insurance Plan for anyone looking for essential coverage without spending a fortune. This plan can serve as your entry point into India's Health Insurance ecosystem.
