Waiting period for pre-existing diseases (PED) was cut down from 48 months to 36 months. After the expiry of this period, all diseases will be covered in the insurance net whether or not they were revealed at the time of buying the policy.
IRDAI tweaks grace period rules for health insurance. Check revised guidelines for policyholders businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Insurers worried over surrender value rule indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
In terms of cashless claims, the regulator wants insurers to decide on authorisation requests within one hour of receipt. It has directed insurance companies to put in place necessary systems and procedures to meet the new guidelines by July 31, 2024.
IRDAI revealed that a probe into stock option allotment to Saluja is on in response to a query raised by Rahul Kanoj under the Right to Information Act (RTI) to the insurance regulator. The regulator said in its response, "The information sought is not furnished as the same would impede the process of investigation or apprehension." ET has seen IRDAI s response to the RTI query.