Arogya Sanjeevani Policy, the standard health insurance product with uniform features launched by non-life insurance companies and standalone health insurance companies from April 1, 2020 will now have to cover hospitalization costs incurred due to coronavirus disease.
In its latest order, IRDAI said, “Indemnity based health insurance products that cover the treatment costs of hospitalization offered by all general and health insurance companies cover the costs of hospitalization treatment on account of covid-19. Following this, the product ‘Arogya Sanjeevani’ offered by general and health insurers also covers the hospitalisation treatment costs of COVID.”
Currently, there are 29 Arogya Sanjeevani policies in the market. Soon, life insurance companies will too launch their Arogya Sanjeevani policies covering hospitalization costs incurred due to covid-19.