The rules of health insurance policy have been changed. Senior citizens are going to benefit the most from this change. Especially those people whose age is above 65 years. This means that now you can utilize the health of your old parents in a better way by taking health insurance for them.
Health insurance for people above 65 years of age
Insurance regulator IRDAI has removed the age limit from health insurance. These new rules will be effective from April 1, 2024. According to the new rule, now senior citizens above 65 years of age will also be able to buy health insurance for themselves. Till now there was only 65 years of age limit for health insurance, which has now been removed.
The insurance regulator has directed all insurance companies to ensure that people of all ages can get insurance. After this initiative of the insurance regulator, people above 65 years of age can no longer be refused a health plan.
The insurance regulator has also directed to reduce the health insurance waiting period. IRDA has reduced it from 48 months to 36 months. That is, if someone is suffering from diabetes, he used to get coverage from 4 years after taking the health plan, but now it has been reduced to three years.
Giving more freedom to the insured, IRDA has taken a decision in their favor. At the same time, the arbitrariness of insurance companies has been curbed. Insurance companies have been allowed to bring health plans according to people of different ages. Now they will be able to launch different types of health insurance for senior citizens, women or students.