Insurance regulator IRDAI has directed general and standalone health insurers to offer specific health cover for persons with disabilities (PWD) as well as those with HIV/AIDS and mental illness.
Advising them to have a board-approved underwriting policy towards ensuring that no proposal from such persons is denied on account of their disabilities or illness, IRDAI said the insurers ought to mandatorily launch and offer their product immediately. It cited provisions made in the Acts with the objective to “make available an appropriate product offering health insurance cover for certain vulnerable sections of society.”
The policy tenure will be for one year and renewable as per regulatory framework in place. The pricing of the product can be determined by the insurers as per norms laid down in IRDAI (Health Insurance) Regulations, 2016.
