look news india
Insurance regulator IRDAI has removed the age limit of 65 years for individuals to purchase health insurance policies in a bid to broaden the market and promote adequate protection against health care costs. The Insurance Regulatory and Development Authority of India (IRDAI) aims to promote a more inclusive and accessible healthcare ecosystem by eliminating the maximum age limit on purchasing health insurance plans, while ensuring adequate protection against uncompensated medical expenses.
As per earlier guidelines, individuals were allowed to buy new insurance policies only up to the age of 65 years. However, from April 1, anyone of any age is eligible to buy a new insurance policy with Research. In a recent gazette notification, IRDAI said, 'Insurers will ensure that they also provide health insurance to meet the needs of the Omar Group. Insurers may design products specifically for senior citizens, students, children, maternity and any other group specified by the competent authority.'
Insurance even for serious diseases
Furthermore, insurers are already mandated to offer health policies to individuals with any type of medical condition. As a result, insurers are prohibited from offering policies to individuals with serious medical conditions such as cancer, heart or kidney failure, and AIDS.
can pay in installments
As per the notification, insurers are permitted to pay the premium in installments for the convenience of policyholders. Travel policies can only be offered by general and health insurers. It says there is no limit on AYUSH treatment coverage. Treatment under systems like Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homeopathy will be covered in the sum insured without any limit. Policyholders with benefit-based insurance can make multiple claims with different insurers, increasing flexibility and choices, the notification said.
