Another big change that came as a surprise this year is the Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limit of 65 years for buying health insurance. They have surprised everyone by changing this time limit.
The move aims to create a healthcare system that protects people of all ages against unexpected medical expenses.
Earlier, people could only get new insurance up to the age of 65. Now, anyone can buy health insurance. This facility has been made available from April 1.
IRDAI has said that insurers must offer plans for all ages and provide special discounts for specific populations such as seniors, students and children. Insurers must also include pre-existing conditions, including serious illnesses like cancer and AIDS.
🚨🚨 Important changes in Health Insurance.
IRDAI released a master circular today.
Most of the changes are applicable from immediate effect – unless there is a specific target date mentioned for the change.
Thread time 👇🏻 pic.twitter.com/79d3CAmoio
— Mahavir Chopra / Beshak.org (@themahavir) May 30, 2024
Read Also –Not Babar Azam, this emerging Indian batsman is most trending player in Pakistan
To reduce the burden on policyholders, insurers can now offer premium installment plans. Insurers will have to offer flexible premium payment options and allow travel policies only through general and health insurers.
The new regulation has established a special channel to handle complaints and claims from senior citizens, ensuring that their needs are addressed promptly.