Health Insurance is the cornerstone of a safe future. Arogya Sanjeevani health insurance policy was launched to simplify everyone’s needs for a good health insurance plan. Go through this guide to know everything about the Arogya Sanjeevani health insurance policy.
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What is Arogya Sanjeevani policy?
If you are looking to buy a health Insurance policy, you can go online and take at the options. You are bound to be confused because of how many options you have. Arogya Sanjeevani is the ideal health Insurance if you are looking for something affordable, robust, and has a wide range of coverage. Depending on your requirement, you can decide your policy coverage ranging from 3 lakhs to 2 crores. You can choose between a family floater plan or an individual policy for you and your family.
IRDAI introduced Arogya Sanjeevani Health Insurance on April 1st, 2020. It was a way to make health Insurance accessible by curating a mandatory basic plan for all health insurance companies. Let us take a look at the features of this health insurance policy.
What are the features of the Arogya Sanjeevani policy?
Hospitalization expenses - Arogya Sanjeevani covers all hospitalization expenses that are incurred before and after hospitalization. These may include diagnostics, operation costs, hospital stay, medicines, etc. The cost incurred due to an illness or accident 30 days before and 60 days after hospitalization in this policy.
AYUSH - A lot of people are exploring alternative treatments for their elements. This policy covers treatments that have been undertaken in government-certified hospitals of Ayurveda, Unani, Siddha, and homeopathy.
No claim bonus - If you don't file a claim during one year, you get a certain percentage of bonus added to your sum insured next year. Essentially your sum insured increases without any rise in premium.
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Room rent - When you are hospitalized, you get the option to choose from a private room to a general ward. You can choose any room with this policy which costs up to 5000 rupees a day.
Plastic surgery and Dental treatments - Both these kinds of treatment that are required due to an injury or a disease are covered under this policy.
ICU/ICCU - Expenses incurred on ICU and ICCU facilities are covered up to 5% of the total sum insured or 10,000 rupees per day.
What are the advantages of the Arogya Sanjeevani policy?
Here are a few things that distinguished Arogya Sanjeevani policy from other health insurance policies -
Same policy different companies - Unlike other policies offered by insurance companies, Arogya Sanjeevani is a standard policy that is offered across all companies. You don't have to check the specifics of this particular policy, and all you need to do is compare the insurance companies.
Quick processes - Everything is quick and paperless, from getting an estimate to buying the policy and filing claims. It also means it is hassle-free, and you need not run around as there is no hard copy needed.
Covers pandemics - The rise in a health crisis due to covid-19 was eye-opening. That is why it is a good thing that this policy covers medical treatment required due to coronavirus.
Copayment - This policy has a minimal copayment, and you need to pay 5% of the claim amount from your pocket.
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Renewability- You can buy this policy as soon as you turn 18, and you can keep renewing it till you are 65. Keep renewing this policy every year with ease.
Low premium - Since this is a standard policy by IRDAI, the premium is lower than most health insurance policies available in the market.
What are the exclusions of the Arogya Sanjeevani policy?
Despite being a particularly full package, the Arogya Sanjeevani policy has a few exclusions that you should know. These are just as important as the inclusions as you don't want to buy a policy and then not make full use of it.
Weight control-related surgeries not related to any comorbidities are not covered.
Claims filed stemming from any criminal activity are not covered.
Treatments required due to substance abuse are not covered.
This policy does not cover medical expenses incurred due to participation in adventure sports.
Maternity-related expenses along with sterility and fertility treatments are not a part of this policy.
Elective treatments or treatments without a doctor's recommendation are not covered.
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Who should consider buying the Arogya Sanjeevani policy?
If you are looking to buy the Arogya Sanjeevani policy, you will notice that you have the option to get the family floater plan or an individual health policy. Here are a few examples of people who should look at buying an Arogya Sanjeevani health insurance policy.
First-time health insurance buyers - If you are a first-time buyer when you have just turned 18, or started earning, this policy is enough for you. You are unlikely to need a sum insured of more than 5 lakhs. Since this policy has a low premium, you are sure not to end up spending a lot and get good advantages at the same time.
People looking for COVID-19 protection – If you are looking for a policy that includes cover against COVID-19, then this is a better option than most policies. Protection against COVID-19 is a part of the policy and not just an add-on. It is why you don’t need to worry about your COVID protection running out.
If you are about to get married - You can opt for the family floater plan. 5 lakhs are enough coverage for 2 people, and once you wish to add your parents and your children, you can move to an individual insurance plan.
Arogya Sanjeevani health insurance is ideal when you are just starting out. Use this guide to make an informed decision.