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New Rules To Fortify Health Cover Buyers

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June 15, 2020

Insurers can’t reject claims in 8-yr-old policies

New Rules To Fortify Health Cover Buyers

Health insurance companies will not be permitted to contest mediclaims of their customers once the premium has been paid for a continuous period of eight years, according to the latest guidelines issued by the Insurance Regulatory Development Authority of India (IRDAI).

IRDAI said the aim of the guidelines is to standardise the general terms and clauses incorporated in indemnity based health insurance (excluding personal accident and domestic/overseas travel) products by simplifying the wording of general terms and clauses of the policy contracts and ensure uniformity across the industry.

All policy contracts of the existing health insurance products that are not in compliance with these guidelines shall be modified as and when they are due for renewal from April 1, 2021 onwards.

यह कहानी Mail Today के June 15, 2020 संस्करण से ली गई है।

हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।

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