To widen the market and foster adequate protection from healthcare expenses, insurance regulator IRDAI has removed the age limit of 65 years for individuals buying health insurance policies.

This marks a significant departure from the conventional constraints that limited individuals in securing comprehensive coverage.

Under the earlier guidelines, individuals were allowed to purchase a new insurance policy only till the age of 65. However, with the recent amendment, which is from April 1, anyone, regardless of age, is eligible to buy a new health insurance policy.

In a recent gazette notification, IRDAI said, “Insurers shall ensure that they offer health insurance products to cater to all age groups. Insurers may design products specifically for senior citizens, students, children, maternity, and any other group as specified by the competent authority.”

Besides, insurers have been mandated to offer health policies to individuals with pre-existing medical conditions of any kind. Consequently, insurers cannot refuse to issue policies to individuals with severe medical conditions such as cancer, heart or renal failure, and AIDS.

Insurers are allowed to offer premium payment in instalments for the convenience of policyholders. Travel policies can only be offered by general and health insurers, it said.

There is no limit on AYUSH treatment coverage. Treatments Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homeopathy will receive coverage up to the sum insured without any cap, it said.

Policyholders with benefit-based policies can file multiple claims with various insurers.