IRDAI vide Circular Ref.No.30/IRDAI/HLT/GEN/ministry/2022-2023 has issued Circular on ‘Insurance Cover for new-born/infants under health insurance policies’, dated October 12, 2022 (Circular)
Background
Clause 1(j) of Chapter – II of Section – 2 of ‘Master Circular on Standardization of Health Insurance Products’ dated July 22, 2020 (Master Circular) mandates that internal congenital diseases, genetic diseases or disorders are not allowed to be incorporated as exclusions in the terms and conditions of the policy contract. However, the Authority has observed that many health insurance products that are marketed by insurers are not providing cover to newborns/infants with internal congenital birth defects from day one (1). In view of the same, the Authority has issued following directions to the insurers to comply with standard provisions on exclusions not allowed in Health Insurance Policies as detailed under:
Directions issued by the Authority
- All insurance products that cover newborns/ unborns shall comply with the above referred provisions without any deviation and provide, coverage from day one(1) without imposing any waiting periods/sub-limits or any other restrictive conditions.
The instructions shall come in force with immediate effect
Source category: IRDAI
Attachments
- /2022/93_CIRCUL~11.PDF
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