Healthcare cost can act as one of the biggest obstacles to financial planning. Therefore, it is important to be protected from any unexpected medical expenses with the help of health insurance. However, there are many health plans available and finding the right one that suits your pocket and health insurance needs can be a bit difficult. Plus, with so many options, things can get pretty confusing. This can often lead the buyer to make a wrong purchase decision.
Arogya Sanjeevani Policy is a standard health insurance product regulated by the Insurance Regulatory and Development Authority of India (IRDAI).
The policy became effective from April 1, 2020. The purpose of this new plan is to provide basic and standard health insurance. This was done in order to make health insurance easier and simpler. All health insurance companies offer this plan and the benefits are the same.
Features of Arogya Sanjeevani policy
Here are the some of the features of the Arogya Sanjeevani medical insurance policy.
Wide range of coverage: Medical expenses caused by accidents and diseases are covered according to the policy.
Minimum Out-of-Pocket Payment: Since this is a basic health insurance plan with a lower sum insured, the co-pay at the time of claims will be lower as well.
Covers COVID-19 Treatment: This plan covers the treatment of COVID-19 for 30 days from the policy commencement date.
ICU/ICCU Coverage: ICU/ICCU room rental covers up to 5% of the sum insured.
Hospital room rent: Room rent is reimbursed up to 2% of the insurance amount.
Pre-existing conditions: Pre-existing conditionswill be covered 48 months after the start date of the policy. This benefit is only applicable if you renew your plan for 4 consecutive years.
Pre-hospital and post-hospital expenses: Medical expenses for 30 days before and 60 days after a long-term hospital-stay of more than 24 hours are covered by this plan.
Day-care Treatments: Day-care treatments that do not require 24-hour hospitalization are covered under the terms and conditions of the Arogya Sanjeevani policy.
Cataract Surgery: Cataract-related surgery and treatment costs for each eye are covered for 24 months after the insurance start date. It covers up to 25% of the insured amount.
New age treatments: New age treatments such as robotic surgery and oral chemotherapy are included in this plan.
AYUSH treatments: Medical expenses for Ayurvedic, Yoga, Unani, Siddha and Homeopathy treatments (also known as alternative medicine) are covered by this health insurance policy.
Ambulance Fee: Up to Rs. 2,000 for ambulance charges per admission.
* Standard T&C Apply
Benefits of Arogya Sanjeevani Policy
Arogya Sanjeevani Policy aims to provide basic and standard health insurance plans as one of the best health insurance plans designed to meet the needs of all income groups in India. Here is why Arogya Sanjeevani is a great choice for health coverage:
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Low premium
As Arogya Sanjeevani insurance policy is a standard policy regulated by the IRDAI (Insurance Regulatory and Development Authority of India), the premium of this plan is relatively lower than other health insurance plans in India.You can visit the official website of IRDAI for further details. *
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Lifetime renewable
Even the best policies you find across various providers only allow you to renew your coverage a limited number of times. However, Arogya Sanjeevani policy can be updated up till the time you are alive. *
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Great for first-time buyers
Arogya Sanjeevani Insurance is a standard health insurance plan with affordable premiums. This plan is suitable for first-time users as it offers a wide range of benefits at a low price. *
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Sold as individual and family floater plan
Arogya Sanjeevani policy has two types of plans: individual plan (for one person) and family floater plan (for the entire family). *
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Tax benefits
Under Section 80D of the Income Tax Act, 1961, you are entitled to tax benefits of up to Rs. 1,00,000 (if family and parents above 60 years of age are also covered in the plan). Deduction in tax is one of the biggest benefits of health insurance. *
* Standard T&C Apply
Eligibility of Arogya Sanjeevani Scheme
The age at which you can buy an insurance policy is between 18 and 65 years. The age of children covered by this insurance is between 3 months and 25 years. This policy is subject to lifetime renewal. Even if you are over 65 years old, you can renew your policy. You, your spouse, your dependent children, your parents, and your in-laws can register. * Standard T&C Apply
Insurance is the subject matter of solicitation.
