Irda extends senior citizen health cover to 65 years

The insurance regulator Irda has said all health insurance products filed must allow entry at least till 65 years of age. In a notification on Monday, Irda has said any difference in product specification for different age groups or for different entry age must be spelled out upfront in the prospectus and policy documents. The Irda has further said that each instance of delay in issue of identity cards to policyholders beyond 30 days from issue of policy may entail a penalty being levied on the concerned insurer. All health insurance policies must enclose an annexure briefly describing in simple ...

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