New Delhi, June 12 -- In a bid to offer an affordable and covid- 19-specific health insurance product, the Insurance Regulatory and Development Authority of India (Irdai) has asked all general and health insurance companies to offer a standard covid-19 policy, starting 15 June.
The covid-19 standard health policy followed by the name of the insurance company will be a standard product across all insurers with common policy wordings. Mint reviewed a copy of Irdai's draft guidelines. The minimum sum insured under this policy would be '50,000. You can opt for the sum insured in the multiples of '50,000, up to '5 lakh.
What is the product? The product is a one-year indemnity policy.
The base cover of the policy will include hospitalization e...