OneInsure Blog


IRDAI: All Mediclaim Policy Exclusions to Be Put Together Upfront

What’s the news?

Insurance regulatory development authority of India (IRDAI) has announced a new norm that compels them to club together all the exclusions of a mediclaim policy and put it upfront on the policy document.

What’s the objective?

Often when the policyholder is not well versed with the exclusions of the mediclaim policy, s/he at times ends up making claim for the excluded ailments. Consequently the policyholder gets agitated and disappointed. In an attempt to make the contract between the insurer and the policyholder more transparent, IRDAI has asked insurers to put together all the exclusions of the mediclaim policy upfront. The new norm will assure that the policyholders do not completely depend on insurance agents and their interest is protected. 

In addition, it will be obligatory for the insurers to update their websites as and when a product is modified or withdrawn. The new norms are intended to guard the policyholders from any sort of misleading information about the policy.

For further updates on insurance, keep following our news thread.

(Source and Credits: Live Mint)

  • By clicking on the "GET A CALL" button, I accept the terms and conditions & authorize OneInsure representatives to contact me (via Call/SMS/Email).