IRDAI modifies the guidelines for Arogya Sanjeevani Policy

In a bid to pass on the benefits to the policyholders, the IRDAI has modified the guidelines for Arogya Sanjeevani Policy, after which the policy is set to be cheaper for policyholders. The insurance companies have also been allowed by IRDAI to release the policy contract of Arogya Sanjeevani Policy in the electronic as well as digital format to the policyholders. The IRDAI has recently modified the guidelines on Standard Individual Health Insurance Product called Arogya Sanjeevani Policy as far the issuance of the policy certificate is concerned. IRDAI has allowed insurers to issue the policy contract of Arogya Sanjeevani Policy in electronic or digital format, thus saving on costs. The objective is to reduce the operating or servicing costs and to pass on this benefit of reduced operational cost to the policyholders by way of affordable premiums.