Arogya Sanjeevani is a standard health insurance policy that provides a basic health cover to its policyholders. It was launched on 1st April 2020 with the purpose of having a simple policy amidst all the other policies that contain various features that are bound to confuse a common man. Hence, with that idea, irrespective of the company of sale, the name of the insurance plan will remain the same as Arogya Sanjeevani Policy.
As directed by the Insurance Regulatory and Development Authority of India (IRDAI) no insurance provider can offer any riders, add-ons and variants with this plan. This ensures that the plan remains affordable to the public.
|Age at Entry||18 years to 65 years|
|Sum Assured||Rs. 1,00,000 to Rs. 5,00,000|
|Tax Benefits||Under Section 80D of the Income Tax Act, 1961.|
Last Updated- 17-12-2020
The policyholder can choose to cancel their Arogya Sanjeevani health insurance irrespective of their age. The policy comes with a 15-day free-look period, where the policyholder can cancel the policy within the first 15 days without any cancellation fees. Furthermore, the paid premium will be refunded to the policyholder excluding any expenses that were incurred by the insurance provider, as long as no claims were made in the short duration.
It is important to note that the free-look period is not applicable at the time of renewal of your policy.
Even if your 15-day free-look period is over, you can still cancel your insurance plan. However, you must submit a 15-day written notice to your insurance provider before cancelling the policy. Your premium for the remaining period of the insurance plan will also be refunded.
To understand the rates of your premium refund, refer the following table:
|Time of Cancellation||Percentage of Premium Refund|
|Up to 30 days||75%|
|31 days to 90 days||50%|
|3 months to 6 months||25%|
|6 months to 12 months||0%|
Last Updated- 17-12-2020
You can make PolicyX.com your one-stop-shop for all your health insurance needs. Apart from the promptness of the whole process, some other factors to consider are:
Whether you cannot understand the aspect of the waiting period while settling your claims or are simply lost with the process, PolicyX.com's team is at your service to help you at all steps.
You can connect with the support right away via any of the following channels:
The Arogya Sanjeevani health insurance policy is eligible for lifetime renewals. Hence, you as a policyholder can renew your health insurance for as long as you are alive. In order to maintain your eligibility, you must renew your policy before the date of expiry at all time. Even if you miss the date, you can pay it within the grace period of 30 days. However, if the policy is not renewed even within that period, it will then be terminated.
You can quickly renew your Arogya Sanjeevani health insurance policy online by entering your details and making the payment. It is much easier with just a few easy steps on PolicyX.com.
Yes, you can increase your cover at the time of renewal in the multiples of 50,000 while not crossing the Rs 5 lakh mark.
Yes, there is a waiting period for making a claim under this policy
No. The cost of the pre-policy medical check-up is not covered by the insurance provider. However, 50% of the medical charges will be reimbursed in case your application is accepted.
Yes, you can purchase this policy as an NRI, provided you are paying in rupees via an Indian bank account and are present in India at the time of purchase.
Yes, you need to pay 5% of the total claim amount as co-payment at the time of claim settlement.
Page updated on 17-12-2020