Home Business IRDA Suggests Removing Age Limit for Health Insurance

IRDA Suggests Removing Age Limit for Health Insurance

by Web Desk
IRDA Suggests Removing Age Limit

The Insurance Regulatory and Development Authority of India IRDA Suggests Removing Age Limit for Health Insurance

At present, citizens in India are eligible to purchase a fresh health insurance policy up to 65 years of age only. Under the new health insurance policy, there will be no maximum age limit. The regulatory body has urged insurers to introduce
customized policies for specific demographics like senior citizens and millennials, recognizing the diverse
needs within such segments.

Proposed Changes to Enhance Health Insurance Features

Longer policy tenures – Life insurers can introduce long-term health policies of up to 5 years tenure
while general insurance and standalone health insurers can offer long-term health policies of up to 3
years’ tenure. Shift towards benefit-based policies – Benefit-based policies from the insurer will provide fixed costs
upon the occurrence of a particular (covered) disease. Indemnity-based policies compensating for
hospital expenses fall beyond their scope, however. Streamlined process of renewal – Health insurers are barred from making medical examinations at the time of renewal if there is no alteration in the sum insured. This will make the process simpler for the re- newer and policyholder.

Claim flexibility enhancement – Policyholders would be permitted to make several claims in one go on
benefits-based policies from different policy insurers thereby promoting greater choice and flexibility.
Furthermore, the draft regulation will aim at addressing the grievances and claims of seniors through a
dedicated channel to ensure a more responsive and specific approach to their unique needs.


Leaders in the health insurance marketplace have welcomed the proposed changes. Most of them feel
that with increasing lifespans of citizens in the country, will allow health security to our seniors.
Removing the maximum age entry will throw open the doors for all age groups looking for additional
health coverage for themselves as well as their family members. Targeted policies for senior citizens and
millennials indicate a nuanced approach towards acknowledging diverse needs as well as ensuring
inclusivity for all.

Related Articles

Leave a Comment