Regulation on Health Insurance Policies
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Regulation on Health Insurance Policies Insurance Development and Regulatory Authority (IRDA) has framed regulations named Insurance Regulatory and Development Authority (Health Insurance) Regulation 2013. These regulations have become effective since 16 th February 2013 . Salient points : a. Life Insurance Companies may offer long term health products but the premium for such products shall remain unchanged for at least a period of every block of three years, thereafter the premium may be reviewed and modified as necessary. b. Non-Life and Standalone Health insurance companies may offer individual health products with a minimum tenure of one year and a maximum tenure of three years, provided that the premium shall remain unchanged for the tenure. c. Group Health Insurance Policies may be offered by any insurance company, provided tha...