Everything You Should Know About Arogya Sanjeevani Health Insurance Policy
Updated On Feb 21, 2022
Table of Contents
Arogya Sanjeevani Health Insurance Policy, which was launched by the IRDAI, is a conventional health insurance plan that may be acquired on an individual or family floater amount insured basis at an inexpensive cost. The has a wide range of coverage characteristics that are both simple to grasp and helpful. From April 1, 2020, the Insurance Regulatory and Development Authority of India (IRDAI) has established the Arogya Sanjeevani Policy as a Standard Health Insurance Product (SHIP). This new plan intends to make health insurance more accessible to consumers by offering a basic and standard plan which will be available by all health insurance firms and will have the same features.
The sole difference between the Arogya Sanjeevani health insurance policies given by multiple health insurance companies is the premiums they charge and the services they give during the purchase, claim settlement, and other associated activities. To get to know more about the Arogya Sanjeevani health insurance policies, read on.
Types Of Plans Under Arogya Sanjeevani Policies
Following are the listed plans under Arogya Sanjeevani Policies -
- Individual Plan - This type of plan permits just one policyholder to be the beneficiary, as the title indicates.
- Family Floater Plan - The offeror can enrol their lawfully wedded partner, ensure the safety of children, parents, and family members in a family health insurance plan for a specific insurance cover for a premiums paid.
Eligibility For Arogya Sanjeevani Policies
The lowest age to join the Arogya Sanjeevani Policy is 18 years old, while the maximum age to join is 65 years old. The lowest age allowed for children underneath the family floater kind of arogya sanjeevani health insurance plan is 3 months, while the age limit permissible for children is 25 years. Nevertheless, if the kid is independently wealthy at the age of 18, he or she will be disqualified for insurance renewals in the future.
What Are The Key Features Under Arogya Sanjeevani Policies?
There are several characteristics that set an Arogya Sanjeevani Policy apart from other health insurance policies in India. Following are some of the important aspects of the Arogya Sanjeevani Plan that distinguish it from the others -
- Affordable Policy - In comparison to other health insurance policies, the Arogya Sanjeevani Policy is significantly less expensive.
- Insured Sum - Policyholders can pick from an insurance cover of Rs 1 lakh to Rs 5 lakhs under the scheme.
- COVID-19 Hospitalisation Expenses - It covers the costs of hospitalisation caused by the Coronavirus (COVID-19).
- Waiting Period - Other than in the case of accidents, the plan has a 30-day wait time for any illnesses or ailments.
- No Health Checkup For Upto 45 years of age - Individuals have no need to get a medical examination if you are above 45 years old and have no medical history.
What Are The Benefits Under Arogya Sanjeevani Policies?
Following are the benefits under Arogya Sanjeevani Policies -
- Affordable Premium - The premium prices for Arogya Sanjeevani policies are reasonable. They are less expensive than other health insurance plans' premiums. However, before purchasing one, you should compare Arogya Sanjeevani policy premiums to make the best purchasing selection.
- Low Copayment - The share of the claim amount incurred by the policyholder/insured just at the period of claim settlement is referred to as co-payment. A co-payment, on the other hand, has no effect on the amount insured. The co-payment for the Arogya Sanjeevani Policy is only 5%.
- 15 day free look period - The Arogya Sanjeevani Policy has a 15-day free look period. Throughout this time, the policyholder may evaluate the tax policies terms of service and withdraw it if they are not satisfactory.
Arogya Sanjeevani Health Policies are common for all general and health insurance firms in India, and they provide a number of advantages. It covers pre- and post-hospitalization expenditures such as bed, nursing, ICU, and doctor consultation fees, among other things. Arogya Sanjeevani Health Insurance shields you and your loved ones from financial ruin in the event of a medical emergency.
You may also like to read - Importance Of Having A Individual Health Insurance Policy
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.