IRDA Proposes Amendments in Health Insurance

The Insurance Regulatory and Development of India (IRDAI) has recently proposed amendments to health insurance regulations in the country. From lifelong renewals under personal accident insurance to discount on renewal premiums, the proposed amendments are pro-policyholders. The insurance regulator has invited comments from different stakeholders until March 6, 2022.

Read More

Policybazaar exclusive benefits
  • 30 minutes claim support*
  • 50,000 claims approved in last 15 months*
  • Schedule home visit with our advisors
  • Get a plan based on your medical needs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Tax benefit is subject to changes in tax laws. Standard T&C Apply

All health plans cover Covid-19 treatment
  • 1
  • 2
  • 3
  • 4

Who would you like to insure?

  • Previous step
    By clicking on “CONTINUE”, you agree to our Privacy Policy and Terms of use
    Previous step

      Popular Cities

      Previous step
      Previous step

      Do you have an existing illness or medical history?

      This helps us find plans that cover your condition and avoid claim rejection

      Get updates on WhatsApp

      What is your existing illness?

      Select all that apply

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step

      Health Insurance Amendments by IRDAI

      In the amendment draft issued on February 16, 2022, the IRDAI has proposed lifelong renewals under personal accident cover if the policy was previously renewed without any breaks. With this amendment, health insurance companies will be unable to deny lifetime renewals to personal accident policyholders due to an increase in their age.

      The insurance regulator has also proposed a discount on renewal premiums if the risk profile of a policyholder is low. At present, insurance companies offer loading on health insurance premiums that could be removed once the risk lowers.

      Further, the amendment also proposes revision in the health insurance portability. It proposes a fixed time of five working days for insurance companies to obtain all essential details on the medical history and claim history of a policyholder from the existing insurance provider. This amendment will ensure that no insurance company rejects any claims in future related to an already made claim on the grounds of non-disclosure after portability. It is also expected to prevent the refusal of porting of a policy by insurance companies.

      The IRDAI has also proposed revision in the cashless facility clause so that the onus of ensuring the cashless facility is shifted by the insurer. However, no specific guidelines have been mentioned to do so.

      Besides, IRDAI has also proposed other amendments relating to the operations of a health insurance company.

      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance articles

      Recent Articles
      Popular Articles
      Monkeypox: Dos and Don’ts of the Disease That You Should Know

      15 Sep 2022

      Monkeypox has slowly and steadily spread to more than 85 countries...
      Read more
      Why is It Important to Disclose Pre-existing Diseases to Your Insurer?

      06 Sep 2022

      As we grow old, the chances of developing a disease or a medical...
      Read more
      Benefits of Multi-Year Health Insurance Plans

      25 Aug 2022

      Ever since COVID-19 entered our lives, health insurance has come...
      Read more
      Does Health Insurance Cover Monkeypox?

      25 Jul 2022

      Monkeypox is the latest disease to make its way to India while we...
      Read more
      List of Diseases Covered by Bajaj Allianz Health Insurance Plans

      05 Jul 2022

      Barely any person has remained unaffected due to rising health...
      Read more
      PMJAY Scheme: Ayushman Bharat Yojana Eligibility & Registration Online
      Prime Minister Shri Narendra Modi announced the launch of (PMJAY) Ayushman Bharat Yojana in his Independence...
      Read more
      Best Health Insurance Plans in India 2022
      Finding the best health insurance plan from so many different health insurance companies can get confusing for many...
      Read more
      How to Apply for Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY)?
      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal...
      Read more
      Best Maternity Insurance Plans
      Maternity insurance offers comprehensive coverage for medical expenses incurred during pregnancy, including the cost...
      Read more
      Best Health Insurance Plans for Senior Citizens in 2022
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance...
      Read more

      Download the Policybazaar app
      to manage all your insurance needs.