The Health Insurance Regulations, 2016 were in force till March 31 this year. It was said that insurance companies will have to offer regular policies to people up to at least 65 years of age. This clause has been removed in the new guidelines of the insurance regulator. This does not mean that there will be no age restrictions on insurance companies when it comes to offering policies.
IRDAI has made some changes in its policy for insurance companies. These have come into effect from April 1, 2024. The regulator has removed a clause related to health policy. This clause stated that insurance companies would have to offer health policies to policyholders up to the age of at least 65 years. Various types of things are going on about this on social media. It is being said that IRDAI has given permission to insurance companies to sell health policies to people above 65 years of age. But, this is not the truth. Let us know what the changes made by IRDAI mean.
The real meaning of removing the clause
In the new rules introduced by IRDAI for health policy, the age clause of 65 years has been removed. The Health Insurance Regulations, 2016 were in force till March 31 this year. In this it was said that insurance companies will have to offer policies to policyholders up to the age of 65 years. Removing this clause does not mean that IRDAI has allowed insurance companies to sell health policies to people above 65 years of age.
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