Irdai ups max cowl underneath Arogya coverage to Rs 10 lakh

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HYDERABAD: To deliver extra individuals underneath the ambit of medical health insurance, Insurance coverage Regulatory and Growth Authority of India (Irdai) has hiked the utmost cowl underneath the usual medical health insurance plan — Arogya Sanjeevani Coverage — from Rs 5 lakh earlier to Rs 10 lakh.
The insurance coverage regulator has made it necessary for insurers to supply a sum insured between Rs 50,000 to Rs 10 lakh underneath the Arogya Sanjeevani coverage as in opposition to the earlier vary of Rs 1 -5 lakh.
Arogya Sanjeevani is the standardised medical health insurance product that was launched in March 2020.
“As a way to improve the protection obtainable underneath Arogya Sanjeevani Coverage, in partial modification of the extant pointers, insurers shall mandatorily provide the sum insured between Rs 50,000 to Rs 10 lakh underneath the usual product from Could 1, 2021, or earlier,” the regulator mentioned in a round.

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