Arogya Sanjeevani -- a standard health insurance policy for individuals and families -- provides coverage of up to Rs 5 lakh for basic hospitalisation-related expenses. This was launched by Insurance Regulatory and Development Authority of India (IRDAI) on April 1.

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"The coverage and terms/conditions of Arogya Sanjeevani health policy are universal for all insurance providers. The buyer has the choice to purchase this policy from any insurer. However, the premium rates and customer service can vary from one insurance provider to another," according to PolicyBazaar - an insurance web aggregator.

Here are the salient features of Aarogya Sanjeevani health policy:

Aarogya Sanjeevani policy offers a standardised product that covers basic hospitalisation needs of customers.

This policy comes with minimum sum insured of Rs 1 lakh and maximum of Rs 5 lakh.

These are available for both individual lives and on family floater basis.

The minimum and maximum entry age are 18 and 65 years, while for children under 'Family Floater' policies, the entry age is 3 months and exit is 25 years.

This policy is annually renewable with a grace period of 30 days.

A co-payment of 5 percent is also applicable across all ages. It means the policyholder are required to pay 5 percent of the bill amount compulsorily.

No add-ons and optional covers are available in Arogya Sanjeevani Policy.

As a special benefit, plastic surgery and dental cover in case of injury or illness is provided.

First Published:May 19, 2020 11:01 PM IST