There is good news for health insurance buyers. The Insurance Regulatory and Development Authority (IRDAI) has introduced a bunch of guidelines that is set to make health policies more comprehensive and policyholder friendly.
Insurance companies are allowed to sell their existing policies for one more year (till October 1, 2020). But, here on, any new health product for the retail segment that insurers file with the regulator has to comply with the new guidelines. Existing holders of health policies need not stress out. At the time of renewal, their policies will be revamped in line with the new regulations.
Products compliant with the new norms will be in the market in three months, say insurers. The premium will be 10-15 per cent higher than the older policies, as they will be offering wider coverage, they add.
What do the new Guidelines on Standardisation of Exclusions in Health Insurance Contracts prescribe, and how do they help?
1 Cover extended for more diseases and conditions; genetic disorders covered
Insurers had been excluding many lifestyle and genetic disorders from cover. Now, these have to be covered. Women can heave a sigh of relief — health insurance will now cover menopause-related issues, too. According to the new regulations, a health insurance policy cannot exclude the treatment of mental illnesses, stress or psychological disorders; puberty- and menopause-related disorders; genetic disorders and internal congenital diseases; speech disorders; and injury or illness associated with hazardous activity.
هذه القصة مأخوذة من طبعة October 09, 2019 من The Hindu Business Line.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة October 09, 2019 من The Hindu Business Line.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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