The Insurance regulator (IRDA) has proposed a new consolidated Life & Health cover for the poor families in India.
The plan if approved would cover a total of 6 crore families with
- Rs 1.5 lakh of Life cover
- Rs 1 Lakh of medical cover
- annual premium cost of Rs 1500- half of which paid by centre, rest shared by state & the beneficiary family

Since the underwriting insurance provider will also get a profit, the scheme is being touted as commercially viable in the long run.
Also from an administrative perspective, it would be easier to roll out a single mass scheme rather than managing the multiple schemes that are currently running parallely.

The scheme is estimated to have a total outflow of Rs 12000 Crore.