Health Insurance: Now a person of any age can buy a new health insurance policy. Earlier the maximum age limit for purchasing it was 65 years, but IRDAI has abolished it.
Now you can buy health insurance policy for your old parents also. Insurance regulator IRDAI has removed the age limit of 65 years for purchasing health insurance. Earlier, customers could buy a new health insurance policy only till the age of 65 years.
With the recent amendments coming into effect from April 1, anyone of any age is eligible to buy a new insurance policy. In a recent gazette notification, Irdai said that insurers will ensure that they offer health insurance products to meet the needs of all age groups.
People with Cancer-AIDS will also be able to get insurance.
Apart from this, insurers have already been ordered to provide health policies to persons with any type of medical condition. As a result, insurers are prohibited from refusing to issue policies to individuals with serious medical conditions such as cancer, heart or kidney failure, and AIDS.
Facility of premium payment in installments will be available.
According to the notification, insurers are allowed to offer premium payment in installments for the convenience of policyholders. Travel policies can be offered only by general and health insurers.
There is no limit on coverage on these treatments.
It is said that there is no limit on AYUSH treatment coverage. Treatments under systems like Ayurveda, Yoga, Naturopathy, Unani, Siddha and Homeopathy will get coverage of sum insured without any cap. The notification said that policyholders with benefit-based policies can file multiple claims with different insurers.
