According to a mandate by the Insurance Regulatory and Development Authority of India (IRDAI), all general and health insurance companies to offer Arogya Sanjeevani Policy – a standard health insurance product covering basic expenses related to hospitalisation, pre and post admission treatment and AYUSH treatment.

The policy will be on offer from April 2020, said IRDAI.

The move is aimed at minimising the too many variations in individual health insurance products that currently flood the market. The availability of too many products confused the buyer while choosing the right health insurance cover.

The standard policy comes with some good benefits for the consumers like cumulative bonus. It also prevents the insurers from imposing deductibles. The policy puts minimum sum insured at Rs. 1,00,000 and maximum sum insured at Rs. 5,00,000. The minimum and maximum age of entry will be 18 and 65 years respectively.