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.
Esta historia es de la edición October 09, 2019 de The Hindu Business Line.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 09, 2019 de The Hindu Business Line.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Covid Presents An Opportunity For India
India must attract investors exiting China post-Covid. Streamlining of project clearances and relaxation in FRBM norms will help
Did Alternative Assets Shield You From Covid-19 Volatility?
The assets closely linked to stock and debt markets could not stave off the losses
How To Put Aircraft To Bed
Preserving grounded planes, to get them up and flying at short notice, is a challenging task. Ashwini Phadnis captures the process
There Can Be No Going Back On WFH
Covid-19 has fast-forwarded the shift to ‘work from home’. However, some face-to-face connect will always be needed
UN, WHO Urged To Ensure ‘Benefit Sharing' Of Covid-Related Data
Biopharma firms should reach vaccines, medicines to poor nations at an affordable price, say civil society bodies
With No Clear Signal From Rlys, States Explore Ways To Bring Back Migrants
Quarantine centres, cross-country buses being arranged even as migrants hop on to boats, trucks and ambulances
Centre Allows All Neighbourhood Shops To Open But With Riders
Final call will be taken by local authorities; shopping complexes that draw fewer ‘outsiders’ are permitted to operate
Covid Impact Relatively Muted In India
Compared to Italy and the US, India’s rate of infection spread has been slow. This can be attributed to the strict measures in place
How Global Trade Will Fare Post-Covid
China isn’t likely to lose its pre-eminent position soon. India, for one, will need to make manufacturing globally competitive
How To Curb Harassment In The Virtual Office
Training and sensitisation are essential. Institute a strict dress code and chat etiquette to ensure professionalism during video calls
