General and Standalone Health Insurers (except ECGC, AIC)
on Standard Individual Health Insurance Product
is drawn to Clause 7 of Section C of Guidelines on Standard Individual Health
Insurance Product (Ref: IRDAI/HLT/REG/CIR/001/01/2020 dated 01.01.2020) wherein
General and Health insurers are allowed to offer Sum Insured options ranging
from minimum Rs.1,00,000/- to maximum of Rs.5,00,000/- (in the multiples of
50,000/-)for “Arogya Sanjeevani Policy”.
the standard policy is required to be offered by all General and Health
insurers for sum insured between Rs.1 lakh and Rs.5 lakhs, to further
facilitate the general public, insurers are hereby allowed to offer minimum sum
insured less than Rs.1,00,000/- and maximum sum insured greater than
Rs.5,00,000/- subject to the underwriting policy of the Insurers.The Sum
insured options shall be offered in the multiples of Rs. 50,000/-(fifty
tables of premium rates for revised sum assured slabs shall be filed in terms
of Clause C (10) of “Guidelines on Filing of Minor Modifications in the
approved Individual Insurance Products offered by General and Stand Alone
Health Insurers on Certification Basis” (Ref No: IRDA/HLT/CIR/MISC/151/09/2019
dated 20th September,2019).
may launch the modified version of the “Arogya Sanjeevani Policy” after filing
the same on Certification Basis as referred to at Para (3) aboveand on getting
the UIN from the Authority. The use of the name “Arogya Sanjeevani” and the
“Use and File” procedure are permitted only if the standard terms and
conditions of “Arogya Sanjeevani’ product are followed.
will come into force with immediate effect.
has approval of the competent Authority.
D V S Ramesh,
General Manager (Health)