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Insurers may offer the standard individual health insurance product Arogya Sanjeevani Policy as a group health insurance product. All general and standalone health insurers except Agricultural Insurance Company of India and Export Credit Guarantee Corporation of India are affected. Insurers must file the group product on a use and file basis. Insurers must comply with product filing guidelines and health insurance regulations. Insurers must keep all terms and conditions of the standard individual policy the same except for premium rate and group policy operation specifications. Insurers may add the word group to the product name. Insurers may set their own minimum and maximum sum limits under the group policy subject to their board approved underwriting policy. The mandate of offering sum insured in multiples of fifty thousand rupees does not apply.
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[Image omitted. See the official document.]
Ref: IRDAI/HLT/REG/CIR/197/07/2020 24th July, 2020
To All General and Standalone Health Insurers (except AIC and ECGC)
Re: Filing of "Arogya Sanjeevani Policy" as group health insurance product
Reference is drawn to Clause 8 of Section 3 of "Master Circular on Standardization of Health Insurance Products" (Ref: IRDAI/HL T/REG/CIR/193/07/2020 dated 22.07.2020) vide which all the general and health insurance companies (insurers) were mandated to offer standard individual health insurance product, "Arogya Sanjeevani Policy".
In partial modification of the above referred guidelines, Insurers are hereby allowed to offer this product also as a group product by duly complying with the norms specified hereunder.
D VS Ramesh, General Manager(Health)
Sy No. 115/1, Financial District, Nanakramguda, Hyderabad - 500 032 www.irdai.gov.in
