INSURANCE
IRDAI proposes to price Bima Vistaar at Rs 1,500 per policy
Apr-29-2024

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed to price Bima Vistaar at Rs 1,500 per policy. Bima Vistaar covers life, health, property, and accidents insurances. It provides defined benefits for each risk category, ensuring quick claim payouts without surveyors. 

The product includes life cover with a premium of Rs 820, health cover at Rs 500, personal accident cover at Rs 100 and property cover at Rs 80. If taken for the entire family on a floater basis, the policy will cost Rs 2,420, with an additional Rs 900 charged for the rest of the family members. The sum assured for life, personal accident and property covers is Rs 2 lakh each. The health cover, known as hospi cash, offers a sum assured of Rs 500 for 10 days, with a maximum amount of Rs 5,000 available without producing bills or documents.

In efforts towards achieving the objective of insurance for all, IRDAI has been working on the concept of Bima Trinity. Bima Trinity initiative consists of 3 programs Bima Sugam, Bima Vistaar, and Bima Vahak. 

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