IRDAI Change Health Insurance Rule: Now a person of any age can buy a new health insurance policy. Earlier the maximum age limit for purchasing it was 65 years, but it has been abolished.
If your parents are elderly and their age is more than 65 years and you want to take a health insurance policy for them, then now it will be possible for you. Actually, insurance regulator IRDAI has made a major change in the rules related to buying health insurance and has removed the age limit of 65 years for people buying the policy. Earlier, customers could buy a new health insurance policy only till the age of 65 years.
IRDAI’s announcement regarding health insurance
According to PTI report, IRDAI aims to promote a more inclusive and accessible health care ecosystem by eliminating the maximum age restriction on purchasing health insurance, which will help in reducing unexpected medical expenses. Ensures adequate protection against. This rule has been implemented for health insurance policies with effect from April 1, 2024. That means now a person of any age can buy a new health insurance policy.
These instructions were given to the insurance companies:
While abolishing the maximum age limit, Irdai has said in a circular that all the insurance companies should ensure that they have health insurance products available for people of all age groups. The regulator has also directed health insurance providers to bring insurance policies tailored to senior citizens and set up dedicated channels to deal with their claims and complaints.
Cancer-AIDS patients will also be able to get insurance.
In its circular, IRDAI has also ordered insurance companies to provide health insurance policies to persons with any type of medical condition. In this, insurance companies are also prohibited from refusing to issue policies to patients suffering from serious diseases like cancer, heart and AIDS. According to the circular, IRDAI has also reduced the health insurance waiting period to 36 months instead of 48 months.
The insurance regulator’s circular states that there is no limit on AYUSH treatment coverage. Treatment under systems like Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homeopathy will be covered up to the sum insured without any limit. IRDAI said that insurers will ensure that they offer health insurance products to meet the needs of all age groups. Can design products specifically for senior citizens, students, children and any other group specified by the competent authority.
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