IRDAI clears 29 insurers to market COVID-19 health policy

Insurance Regulatory and Development Authority (IRDAI) has cleared the names of 29 standalone health and general insurance companies which will be allowed to market an indemnity health insurance product which will cover the hospitalisation costs for treatment of COVID-19.

The indemnity health insurance policy will provide a cover of Rs 1 lakh and Rs 5 lakh. The purpose of this new policy is to cut the clutter between multiple insurance products and bring out a standard product with common features across insurance companies.

Though all 29 companies will launch the policy, it will be called the 'Arogya Sanjeevani Policy' followed by the name of the respective insurance companies.