Individual Health Plans to Become Friendlier

IRDA keeps on intervening health insurance sector to make sure that the insurance sector works in public interest. Recently, it introduced few reforms to individual health plans and group health plans as well. The reforms are believed to evolve health plans and processes, a step further. The best of all, these new regulations are not expected to affect the price significantly, at least not in immediate terms. Such reforms are sure to pave a smoother way for the growth of health insurance sector as a whole, in the coming years.

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
      Advantages of
      entering a valid number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium

      Minimum Entry Age  –  Raised 

      It seems only an irony that senior citizens which need to be insured more than any other age group are either denied a cover altogether or have to bear high premium costs to get insured. Earlier the lower cap on entry age for getting a health plan was set at 55-60 years. With the new reform, it will now be 65 years for all the health insurance plans being offered in the market.

      Renewability  –  Goes Lifelong

      Earlier, most of the health insurers used to set an exit age (70-80 years) attaining which the policyholder would become ineligible for getting his policy renewed. With the new IRDA regulations, the scene is going to be reversed as every health insurer will have to feature lifelong renewability in their policies. Though the insurers are taking this reform  with a pinch of salt and are reluctant to accept this reform esp. for defined benefit policies for the simple reason that as one ages, the chances of him/her contracting an illness increases.

      Loading Charge  –  No More

      If you have ever made a claim, you would know it that post claim, the renewal premium on a policy rises owing to the loading charges. But according to the new regulation, your insurer can’t incur such loading charges even if you make frequent claims in a policy year. Premium can’t be increased for the first three years of the policy. However, the insurer can increase the premium marginally after the fourth year of the policy.

      Insurance Terminology  –  Standardized

      Many a times, policy buyers get eluded from the health insurance jargons and end up getting fooled. For e.g. two insurance plans may offer maternity benefits but while one of them includes Caesarean delivery, the other one doesn’t. But now onwards, insurance terms will be standardized. This will make it easier for the buyers to understand the specific benefits and exclusions of a policy and hence make informed decisions. So when two insurers offer maternity benefits, they both will mean the same standardized benefits. 

       Insurance Policies  –  Get Digitized 

      P.Chidambaran, Union Finance Minister recently introduced Insurance Repository system (IR system). The IR system will keep a record of the insurance policies in a digitized form, enabling policyholders to access it anytime via an e-insurance account. This way the policy holder will be free of risk of losing the documents. This digitization will initially be made mandatory for the life insurance and would later be extended to non-life insurance. 

      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
      Does Health Insurance Cover H3N2 Virus?

      20 Mar 2023

      The seasonal H3N2 virus is rapidly spreading across India. As per
      Read more
      Common Wellness Benefits Offered by Health Insurance Plans

      14 Feb 2023

      Health is the biggest wealth in the true sense. No matter how much
      Read more
      Should You Buy a Super Top-up Health Insurance Policy?

      18 Jan 2023

      India is abuzz with a variety of health insurance plans to cater
      Read more
      6 Reasons Why Your Cashless Health Claims Can Get Denied

      18 Jan 2023

      Cashless claims are one of the most lucrative benefits of buying a
      Read more
      Check Out the Mandatory KYC Documents for Health Insurance

      30 Dec 2022

      The Insurance Regulatory & Development Authority of India
      Read more
      What are the Normal Thyroid Stimulating Hormone (TSH) Levels as Per Age?
      The thyroid gland is an important gland responsible to produce the right amount of hormones for normal body
      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
      10 Major Benefits of Ayushman Bharat Yojana
      Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi
      Read more
      Best Health Insurance Plans for Senior Citizens in 2023
      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance
      Read more
      Income Tax Slab for Women: Guide to Exemptions and Rebates
      In India, every person who earns beyond a certain limit is liable to pay income tax to the government. The tax
      Read more

      Download the Policybazaar app
      to manage all your insurance needs.