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Sunday, 21st April 2024

Page No. 1

Chennai Print Edition

SUPPLEMENTMain Edition

The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limit for purchasing health insurance policies, with effect from April 1.

Earlier, there was an age limit of 65 years to buy new health insurance policies. The IRDAI’s latest move is aimed at bringing in extended health benefits to senior citizens.

The IRDAI directive mandates health insurance providers to develop specialised policies catering to senior citizens, and to establish dedicated channels for addressing their claims and grievances. Companies are also encouraged to develop tailored products to meet specific age-related requirements, fostering a more inclusive healthcare ecosystem.

It adds that the move will enhance the accessibility and affordability of healthcare coverage across all age groups. The IRDAI is an autonomous and statutory body responsible for managing and regulating India’s insurance and reinsurance industry.

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