Why should you invest in Arogya Sanjeevani Policy in 2020

The health insurance policy should also offer the benefits of normal health insurance so that you can reap more benefits from the policy. With the advent of the COVID-19 pandemic, health insurance has become a must-have investment instrument. In this blog, we have a detailed look at the Arogya Sanjeevani Policy and why should you invest in that policy at this point in time.

What is Arogya Sanjeevani Health Insurance Policy?

Arogya Sanjeevani is an initiative by the Insurance regulator IRDAI, primarily aimed at providing accessible health insurance to all citizens in India. The major benefit of this particular health insurance policy is that it also covers the expenses incurred on COVID-19 treatment. This insurance policy that falls under the category of SHIP (Standard Health Insurance Product) is available from April, 2020.

As this policy is an IRDAI initiative, many insurance companies including Royal Sundaram General Insurance have come up with this attractive health insurance offering. Arogya Sanjeevani Policy is best-suited for people who are looking out for good health insurance options that offer basic health insurance coverage since the coverage can range from Rs. 1 Lakh to a maximum amount of Rs. 5 Lakhs.

Major reasons for investing in Arogya Sanjeevani Policy in 2020

Coverage under AYUSH treatment
The AYUSH industry is booming in India  and the treatment options under AYUSH are widely preferred by youngsters as well as senior citizens. Based on the sum insured, the expenses incurred on AYUSH treatment have to be paid by the insurance provider.
Hence this policy is suited for all age categories (younger and older generation) since Homeopathy is prevalent in India.

Coverage of COVID-19 treatment
Though our lives have returned back to some normalcy, the fear of catching the Coronavirus infection will always be there in the back of our minds. Arogya Sanjeevani also covers COVID-19 treatment which makes it a must-have in these testing times.

Attractive Premiums
Since this is a basic health insurance policy, the coverage comes at an affordable premium. The validity of the Arogya Sanjeevani Policy is one year and the term is calculated from the date of issuance of the health insurance policy.

Coverage of modern-age treatments
The policy is designed keeping all the medical advancements in mind. Some of the modern-age treatments covered under the Arogya Sanjeevani policy are immunotherapy, stem cell therapy, bronchial thermoplastic, robotic surgeries, and more.

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Close to 50 percent of the sum insured is covered under these categories. This includes in-patient care and day-care setup.

Free Look Period

There is a possibility that first-time health insurance buyers might get confused with the offerings of the policy. Hence, insurers get a free look period of fifteen days to review the beneficiaries, offerings, etc. before making an informed decision to invest in the health insurance policy.

Benefits of a normal health insurance policy

Like mentioned earlier, the Arogya Sanjeevani Policy also offers the benefits of reimbursement of in-patient hospitalization, ambulance charges, doctor consultation fees, and more.

Though the co-payment percentage is as low as 5 percent, the sum insured is not affected by the same.
As a policyholder, the premium paid for the health insurance policy is eligible for tax benefits under Section 80(D). Whether you or your loved ones hold health insurance or not, the Arogya Sanjeevani health insurance policy is a worthy investment.

Conclusion
Arogya Sanjeevani offers significant benefits at an affordable premium. It is recommended to have a detailed look at the health insurance documents and buy the policy from a trusted insurance provider like Royal Sundaram General Insurance.