What are IRDA’s New Health Insurance Changes 2024? How is it going to impact our health insurance policies? Let us try to understand in detail.
On May 29th, 2024, the IRDA released a circular titled “Master Circular on IRDAI (Insurance Products) Regulations 2024- Health Insurance.” This circular introduces significant changes to your health insurance policy. Let us delve into each of these changes individually.
IRDA’s New Health Insurance Changes 2024
Let’s examine each of them individually and analyze their influence on your health insurance.
# Health Insurance Claims can’t be rejected after 5 Years
I have covered this important change in my earlier post. However, repeating here.
What is the moratorium period in health insurance policies?
After the completion of FIVE continuous years under the policy no look back to be applied. This period of five years is called as moratorium period. The moratorium would be applicable for the sums insured of the first policy and…