No Age Limit To Purchase Health Insurance From April 1, Here Are The New Rules From Irdai outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
While the waiting period for pre-existing disease (PED) coverage in health insurance policies has been reduced from four years to a compulsory three years, the moratorium period has been shortened from 96 to 60 months.
Financial Literacy News: Starting April 1, 2024, you must keep your insurance policies in electronic format, similar to the way investors store shares in a demat account. The Insurance Regulatory and Development Authority of India (IRDAI), in its "Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers Regulations, 2024," has mandated that every insurer must have a board-approved policy for issuing insurance policies in electronic form, as stated in its notification.
e-Insurance policies new rule: The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory to hold new insurance policies in electronic format from April 1, 2024. e-insurance refers to the process of acquiring and managing insurance policies electronically. Policyholders can purchase insurance and store digital policy documents in a dedicated e-Insurance Account (eIA). This eliminates the need for physical documents and simplifies managing various insurance policies, including life, health, and general insurance coverage. What policyholders must know about this new IRDAI rule
The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for insurers to issue fresh policies digitally. This would ensure easier access to policies and make keeping track of policies across companies and segments simpler.