While there was no regulatory cap on age for health insurance policies, most companies had an internal policy which did not allow them to sell health insurance products to persons over 65.
"The key point of contention is affordability of insurance at a senior age. The price of the product is always higher because the risk and vulnerability is higher. So, that has been a touch point always for that age group. Simultaneously, there is an issue on the amount of insurance cover. Also, there is the issue of the existing set of ailments," said an insurance industry official.
Last week, the Insurance Regulatory and Development Authority of India (Irdai) said that insurance companies must ensure that they offer health insurance products to all age groups, effective from April 1, 2024.
Bu hikaye Business Standard dergisinin April 23, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin April 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
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