It is not new that the cost of hospitalisation is skyrocketing by the day. Medical inflation is on the rise, and it has increased manifold in recent times, especially due to the coronavirus pandemic. Therefore, the importance and benefits of health insurance policy cannot be understated, and many of us are realising it now more than ever.
This is why, Insurance Regulatory and Development Authority of India (IRDAI) introduced the Arogya Sanjeevani policy from 1st April 2020, to make a health insurance policy more affordable and accessible to all. Therefore, all licensed health insurance companies or providers are required to offer this policy to people. You can visit the official website of IRDAI for further details.
Features of the Arogya Sanjeevani Policy
Let us understand the features and benefits of the Arogya Sanjeevani policy:
- Economically viable: This policy is affordable and has been designed taking into consideration accessibility to all. Therefore, it is more economically viable and has lesser premiums as compared to regular health insurance covers.
- Cashless facilities: Another feature of the Arogya Sanjeevani is that it provides cashless hospitalisation facilities. This makes it more convenient when required.
- EMI options: Arogya Sanjeevani offers the option of paying the premium in instalments or EMIs. This makes it an even more convenient policy option for when the total amount of money is not readily available, providing added financial assistance.
- Lower co-payments: This policy also offers the benefit of lower co-payments, which are set at 5% of the total claim. *
- Availability for every budget: Arogya Sanjeevani policy offers a sum insured from ₹50,000 to ₹10 lakhs, making it an affordable policy for every budget.
- Coverage for the entire family: Not only does this policy offer individual health insurance cover, it also provides options for family floater health insurance, helping insure the whole family under a single plan.
* Standard T&C Apply
Am I eligible for Arogya Sanjeevani policy?
Any individual between the ages of 18 to 65 is eligible to apply for Arogya Sanjeevani health insurance cover. Moreover, you get an option to add up to three dependents; it can be your parents, your parents-in-law, or your children (if they are below the age of 18). Moreover, this policy has a lifetime renewability feature.
What is the scope of the Arogya Sanjeevani policy?
Here are some important things that Arogya Sanjeevani policy covers-
- Inpatient care: Whether it is room charges, medical expenses, ICU, operation theatre charges, doctors’ fees for hospitalisations of over 24 hours, day care expenses, or ambulance charges, Arogya Sanjeevani covers it all.
- Special treatments coverage: It covers the cost of up to 50% of the sum insured for advanced treatments, including but not limited to – oral chemotherapy, deep brain stimulation, immunotherapy, bronchial thermoplasty, stem cell therapy, and so on.
- AYUSH treatments: Arogya Sanjeevani policy not only covers the standard treatments, it also covers alternative treatments such as AYUSH, which expands the scope of medicine.
- Pre and post hospitalisation expenses: The policy covers pre-hospital charges of up to 30 days, and post hospitalisation costs up to 60 days.
* Standard T&C Apply
What is not included in Arogya Sanjeevani policy?
Please note the exclusions in the policy – maternity care, domiciliary care, weight control treatments, cosmetic treatments unrelated to accidents, dental care unrelated to accidents, outpatient treatments, and international treatments.
Moreover, any illness or condition that you develop in the first 30 days of the coverage is excluded, except for those caused due to accidents. In case of pre-existing conditions, a notice-period exists of maximum of 48 months, depending on the terms and conditions of your insurance provider.
So, these are the key things to know about the financial assistance offered by the Arogya Sanjeevani and the benefits of health insurance plans. Hope this article helps you to make an informed decision for yourself and your family. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.