Older Than 65? You Can Still Purchase Health Insurance

New Delhi: In a move aimed at creating a healthcare system that accommodates everyone, regardless of age and shields against unexpected medical costs, the Insurance Regulatory and Development Authority (IRDAI) has scrapped the 65-year age limit for purchasing health insurance, making coverage more accessible.

Earlier, people could only get new insurance until 65. Now, there is no such age limit. Anyone can buy health insurance, effective April 1.

IRDAI stated that insurers must offer plans for all age groups and tailor products for specific demographics like seniors, students, and children.

Insurers must also cover pre-existing conditions, including severe illnesses like cancer and AIDS.

To ease the burden on policyholders, insurers can now offer premium instalment plans. Insurers have to offer flexible premium payment options and allow travel policies only through general and health insurers.

Additionally, there is no cap on covering AYUSH treatments, including Ayurveda and Yoga, while benefit-based policyholders can file multiple claims with different insurers.

The new regulation also establishes a specialised channel for handling complaints and claims from senior citizens, ensuring their needs are addressed promptly.