irdai

April 16, 2025 3:01 PM

Over 1.3 crore individuals insured through GeM in FY 2024-25; platform facilitates hiring of 1 million manpower resources

The Government e-Marketplace (GeM) has successfully facilitated insurance coverage for over 1.3 crore individuals under Health, Life, and Personal Accident Insurance policies. In addition, the platform enabled the hiring of 1 million manpower resources across government departments and organizations. The Insurance Services category was introduced on GeM in January 2022 with the objective of streamlining the procurement of insurance products while ensuring transparency, cost-effectiveness, and r...

IRDAI removes age cap on health insurance purchase

The Insurance Regulatory and Development Authority of India (IRDAI) has lifted the age cap on purchasing health insurance policies, effective from April 1, 2024. Previously, individuals were restricted to buying new insurance policies only until the age of 65. However, with the recent changes that came into effect on April 1, 2024, anyone, regardless of age, is now eligible to purchase new health insurance. "Insurers must ensure they offer health insurance products catering to all age groups. ...