Arogya Sanjeevani Policy – Eligibility and Premium Details

Age Entry(Years)18-65
Sum Insured1 Lakh – 5Lakh
PremiumAs per insurer’s discretion
TenureOne year with life time renewal
Add-on’sNot allowed
Co-Pay5% of sum insured
Room ExpensesCapped at 2% of sum insured
Modern treatments50% of the sum insured
Cumulative bonus5% for each claim free year
Sub limits25% for cataract treatment

What is Arogya Sanjeevani Policy?

As cases of CoronaVirus are increasing at a very fast rate in India, the demand for Health Insurance policies has also increased. The people are confused to decide over which Health insurance policy is best and what policy they should choose.

Lot of Health Insurance products can be found there in the market. The presence of huge number of insurance products makes it difficult for the insurance policy buyers to decide upon which insurance company’s policy should be chosen.

To solve this issue and to encourage more and more people to purchase health insurance policies, the IRDAI ie. the Insurance Regulatory and Development Authority of India has issued a Circular to insurance companies of India to provide standard Health insurance products across the country. The main motive of this is to focus on the basic needs of all policyholders.

This new policy has been named as Arogya Sanjeevani Policy by IRDAI and it is applicable from 1 April 2020.

While announcing this policy, the IRDAI has ordered all Insurance companies of the country to offer a Minimum of Rs. 1 Lakh and Maximum of Rs. 5 Lakh coverage in order to meet the basic health needs of the Indian citizens. As mentioned above all the Insurance companies will have a common name for this product i.e Arogya Sanjeevani Policy. The companies can use their own name at the end of this standard name, but no other name can be used in the documents for this policy.

Duration of the Policy:

IRDAI has mentioned that there are thousands of Insurance products and policies available these days in the market which makes it so difficult for the policy buyers to select the best one. That’s why this decision was made to allow General and Health insurance companies to bring a standard policy like Arogya Sanjeevani Policy. Some fixed covers will be included in the standard policy and no permission will be granted to include any Add-ons or Optional Covers. The duration of this policy will be for 1 year which can be renewed.

Age Limit for Arogya Sanjeevani Policy:

To buy this policy IRDAI has set up the age limit of 18-65 years. It is possible to renew the policy for a full life. All portability rules will be applicable on this policy. And there will be a fixed premium for this policy across India.

Eligibility Criteria for Arogya Sanjeevani Policy:
As mentioned in the above para, in order to be eligible to purchase Argoya Sanjeevani Policy, the policyholder must be aged between 18 to 65 years. One can purchase the Argoya Sanjeevani policy for himself as an individual or for Family. It is possible to include the following members of your family when you purchase this policy for Family.

  1. Husband/Wife
  2. Parents
  3. Mother in Law, Father in Law
  4. Dependent Childer between 3 to 25 years of age.

Arogya Sanjeevani Policy Premium:

As Arogya Sanjeevani Policy is a standard product launched by IRDAI, so all insurance companies across India have to follow the same standard in terms of premiums. It means that the premium of Arogya Sanjeevani Policy will be the same all over India and there will be no variations in it. The premium amount for both types of policies i.e individual and Family plan is as below:

  • Premium amount for Family Plan: Rs. 15000
  • Premium amount for Individual Plan: Rs. 5000

Below are some interesting things and facts about this standard health insurance policy ie. Arogya Sanjeevani Policy.

  • The minimum cover amount of Arogya Sajeenvani Policy is Rs. 1 lakh and the maximum amount is Rs. 5 Lakh. This policy will be offered for a term of one year.
  • The minimum age to choose this policy is 18 years and the maximum is 65 years.
  • There is also the option to renew this policy for a lifetime.
  • Your Husband/wife, Parents, Mother in Law, Father in Law can be included in this policy.
  • It is also possible to include your dependent children from 3 to 25 years.
  • There are many ways to pay the premium. i.e you can pay the premium monthly, quarterly, half-yearly or yearly.
  • A grace period of 30 days will be provided if you pay the premium yearly. For other periods there will a grace period of 15 days.
  • For individuals, there is a family floater plan also. No rider or top-up is available for this type of policy.
  • For the surgery of Cataract a coverage of Rs. 40000 or 25% of the sum assured will be provided.
  • The plastic surgery due to injury or any other disease will also be covered under this policy.
  • Dental treatment is also covered under this policy.
  • If you don’t agree with the terms and conditions, then you can cancel the policy within 15 days of its issue date.
  • If someone is admitted to the hospital and is treated under the AYUSH scheme, then these expenses will also be covered under the Arogya Sanjeevani Policy.
  • The policyholders can also avail of the option of portability under this policy.

What’s not included in this policy?

Various types of treatments are not included under Arogya Sanjeevani Policy:-

  • No coverage will be provided under Arogya Sanjeevani Policy for outdoor patients.
  • The expenses incurred on treatments like Maternity, weight loss treatment, Sex change operations, treatment of the injury caused by dangerous sports or games, treatment of injuries occurred during breaking any law or any injuries due to war, etc are not covered under Arogya Sanjeevani Policy.
  • As mentioned above the cost of treatment done under Ayush scheme, expenditure up to 30 days before hospitalization and 60 days after discharge from hospital are also covered under this standard health policy. We have also stated above that this policy is portable and its premium remains uniform in the whole country. There is no variation in the premium based on states or any regions. During this period of the CoronaVirus pandemic, the government of India has taken this very good step to take care of the health of Indian citizens.

How to Buy Arogya Sanjeevani Policy Online:

As a lockdown has been imposed in the Whole Country, so it is not possible for anyone to go to the offices of any insurance companies at this time and to get a health care policy. But it is very easy to buy Arogya Sanjeevani Policy online by sitting at your home. You can purchase Arogya Sanjeevani Policy online in just a few steps. There are many insurance companies from where you can purchase Arogya sanjeevani policy online with no need to go anywhere.

Some most popular Insurance companies which provide Arogya Sanjeevani Policy online are:

  • Bajaj Allianz Insurance
  • SBI General Insurance Company
  • ManipalCigna

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