IRDAI removes age cap on health insurance policies, allowing purchase for all ages from April 1, 2024.
IRDAI removes age cap on buying health insurance policies from April 1, 2024. Earlier, individuals were restricted to purchasing new insurance policies only until the age of 65. The move by the insurance regulatory body aims to create a more inclusive healthcare ecosystem in India and to encourage insurance provider companies to diversify their product offerings. The new rules mandate insurers to offer health insurance products for all age groups and design specialized policies for specific demographic groups, such as senior citizens, students, children, and maternity needs.
April 20, 2024
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