IRDAI vide Ref: No: IRDAI/HLT/CIR/MISC/046/03/2022 dated March 7, 2022 has issued a Circular on ‘Disclosure of underwriting philosophy of offering Health Insurance Coverage to Transgender persons’ (Circular).
Background :
The Circular draws reference of the following:
- Provisions of IRDAI (Health Insurance) Regulations, 2016 requiring insurers to evolve a health insurance underwriting policy covering approach and aspects relating to offering health insurance coverage not only to standard lives but also to substandard lives.
- The Transgender Persons (Protection of Rights) Act, 2019.
- Circular issued by the Authority dated June 2, 2020 on ‘Disclosure of underwriting philosophy of offering Insurance coverage to Persons with Disability (PWD) and people affected with HIV/AIDS and Mental Illness diseases’.
The major highlights of the Circular are as follows:
In line with the above referred prescriptions, the Circular requires insurers to publish on their websites the underwriting philosophy and approach with regard to offering insurance coverage to transgender persons so that the targeted population of every insurer shall have complete information on the philosophy that insurers adopt while complying with the above referred provisions.
All Insurers (Life, General and Health Insurers) are directed to comply with the aforesaid instruction immediately.
Source category: IRDAI
Attachments
- /2022/4_DISCLO~1.PDF
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