The Insurance Regulatory and Development Authority of India (Irdai) has mandated all general and health insurance companies to offer a standard individual Covid-19 health insurance cover from June 15. The maximum sum insured for this product would be Rs 5 lakh and minimum would be Rs 50,000.
Insurance companies are still working on the premium amount for this product, but it is estimated that premiums will be in the range of Rs 2,000-3,000 for a sum insured of Rs 5 lakh. This policy will be a standard product with common policy wordings across the industry.
