After the Kovid-19 vaccine, companies incur the cost of hospitalized health insurers due to adverse effects. The IRDA has notified insurance companies about this. The health of consumers taking health insurance is worsened by the Kovid-19 vaccine, the IRDA said. If they need to be hospitalized, they should be able to claim the insurance company for the cost of treatment. The insurance regulator recently included Kovid-19 treatment in the health insurance policy, but does not cover the cost of the vaccine, which is still out of the policy.
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Health Sanjeevani is now worth Rs 10 lakh
The insurance regulator IRDA has directed the government to increase the cover under the standard health insurance policy ‘Health Sanjeevani’ to Rs 10 lakh. Following this instruction, the minimum limit for this policy has been increased to Rs. 50,000 and the maximum limit to Rs. The Insurance Regulatory and Development Authority (IRDAI) issued guidelines for health insurance policy in July last year.
Compensation for health insurers, cause of claim revocation
Insurance companies are required to provide compulsory insurance coverage of at least Rs 1 lakh and maximum of Rs 5 lakh. However, the IRDA says the new reform guidelines do not apply to two specific governmental general insurance companies, the ECGC and the AIC. Indian Agricultural Insurance Company Limited belongs to the agriculture sector and is an ECGC Export Credit Guarantee Company which supports exporters.
