Document Detail

Title: Circular
Reference No.: IRDAI/HLT/REG/CIR/172/07/2020
Date: 07/07/2020
Guidelines on Standard Individual Health Insurance Product, Jul 2020


AllGeneral and Standalone Health Insurers (except ECGC, AIC)

Re: Guidelineson Standard Individual Health Insurance Product

1. Attentionis drawn to Clause 7 of Section C of Guidelines on Standard Individual HealthInsurance Product (Ref: IRDAI/HLT/REG/CIR/001/01/2020 dated 01.01.2020) whereinGeneral and Health insurers are allowed to offer Sum Insured options rangingfrom minimum Rs.1,00,000/- to maximum of Rs.5,00,000/- (in the multiples of50,000/-)for “Arogya Sanjeevani Policy”.

2. Whereasthe standard policy is required to be offered by all General and Healthinsurers for sum insured between Rs.1 lakh and Rs.5 lakhs, to furtherfacilitate the general public, insurers are hereby allowed to offer minimum suminsured less than Rs.1,00,000/- and maximum sum insured greater thanRs.5,00,000/- subject to the underwriting policy of the Insurers.The Suminsured options shall be offered in the multiples of Rs. 50,000/-(fiftythousand) only.

3. Thetables of premium rates for revised sum assured slabs shall be filed in termsof Clause C (10) of “Guidelines on Filing of Minor Modifications in theapproved Individual Insurance Products offered by General and Stand AloneHealth Insurers on Certification Basis” (Ref No: IRDA/HLT/CIR/MISC/151/09/2019dated 20th September,2019).

4. Insurersmay launch the modified version of the “Arogya Sanjeevani Policy” after filingthe same on Certification Basis as referred to at Para (3) aboveand on gettingthe UIN from the Authority. The use of the name “Arogya Sanjeevani” and the“Use and File” procedure are permitted only if the standard terms andconditions of “Arogya Sanjeevani’ product are followed.


5. Thiswill come into force with immediate effect.


6. Thishas approval of the competent Authority.



D V S Ramesh,

General Manager (Health)

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